Pavilion Investments Limited - Period Ending 2021-04-30
Pavilion Investments Limited - Period Ending 2021-04-30
Registration number:
Pavilion Investments Limited
for the Year Ended 30 April 2021
Pavilion Investments Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pavilion Investments Limited
(Registration number: 02933830)
Balance Sheet as at 30 April 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
400,100 |
400,100 |
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Revaluation reserve |
484,164 |
484,164 |
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Profit and loss account |
418,332 |
418,361 |
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Shareholders' funds |
1,302,596 |
1,302,625 |
For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Pavilion Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the letting of property. Turnover from the rendering of accommodation is recognised by reference to the stage of completion of the contract.
Government grants
Government grants of a revenue nature are recognised when there is a reasonable assurance that conditions attaching to them have been met and the grants will be received. The accruals model has been adopted for recognition.
Tax
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pavilion Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings, tools and equipment |
over 5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2020 |
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At 30 April 2021 |
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Depreciation |
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At 1 May 2020 |
- |
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At 30 April 2021 |
- |
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Carrying amount |
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At 30 April 2021 |
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At 30 April 2020 |
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Included within the net book value of land and buildings above is £ 89,000 (2020 - £89,000) in respect of long leasehold land and buildings.
Revaluation
Pavilion Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021
4 |
Tangible assets (continued) |
The fair value of the company's land and buildings was assessed at
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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- |
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