Pykle Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04562776 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

Pykle Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S M Forsyth

SECRETARY:

R B Tattersall

REGISTERED OFFICE:

Cammas Cottage

Needham Green

Hatfield Boad Oak

Bishops Stortford

Essex

CM22 7JT

REGISTERED NUMBER:

04562776 (England and Wales)

ACCOUNTANTS:

Fisher Michael Chartered Accountants

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

FIXED ASSETS

Investment property

4

300,000

300,000

CURRENT ASSETS

Debtors

5

191,011

190,992

Cash at bank

27,263

22,328

218,274

213,320

CREDITORS

Amounts falling due within one year

6

10,562

8,759

NET CURRENT ASSETS

207,712

204,561

TOTAL ASSETS LESS CURRENT LIABILITIES

507,712

504,561

CREDITORS

Amounts falling due after more than one year

7

(82,925

)

(101,925

)

PROVISIONS FOR LIABILITIES

(11,978

)

(11,978

)

NET ASSETS

412,809

390,658

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

124,264

136,242

Retained earnings

288,544

254,415

SHAREHOLDERS' FUNDS

412,809

390,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 September 2021 and were signed by:

Mrs S M Forsyth - Director

1.	STATUTORY INFORMATION

Pykle Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The company is not part of a group.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

No significant judgements or estimations have been applied in the preparation of the financial statements.

Investment property

The investment property is included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Rents received

Rent is recognised to the extent that it is probable that the economic benefits will flow to the Company and the rent can be reliably measured. Rent is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2020

and 30 April 2021

300,000

NET BOOK VALUE

At 30 April 2021

300,000

At 30 April 2020

300,000

Fair value at 30 April 2021 is represented by:

£

Valuation in 2020

136,242

Cost

163,758

300,000

5.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Other debtors

1,011

992

Amounts falling due after more than one year:

Other debtors

190,000

190,000

Aggregate amounts

191,011

190,992

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

6,295

4,517

Other creditors

4,267

4,242

10,562

8,759

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

82,925

101,925