Percy J Down Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00442457 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Percy J Down Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T S Down

M K Jenkins

J R Down

REGISTERED OFFICE:

C/O 5 Southernhay Avenue

Cliftonwood

Bristol

BS8 4TJ

REGISTERED NUMBER:

00442457 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

BANKERS:

National Westminster Bank Plc

PO Box 238

Corn Street

Bristol

BS99 7UG

CURRENT ASSETS

Debtors

4

50,000

50,000

Investments

5

22,925

22,925

Cash at bank

13,383

13,383

86,308

86,308

CREDITORS

Amounts falling due within one year

6

200,950

200,950

NET CURRENT LIABILITIES

(114,642

)

(114,642

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(114,642

)

(114,642

)

CAPITAL AND RESERVES

Called up share capital

9,000

9,000

Capital redemption reserve

1,000

1,000

Retained earnings

(124,642

)

(124,642

)

SHAREHOLDERS' FUNDS

(114,642

)

(114,642

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 September 2021 and were signed on its behalf by:

T S Down - Director

1.	STATUTORY INFORMATION

Percy J Down 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.

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.

The financial statements have been prepared on the going concern basis, which assumes the continued support of the company's directors' and other creditors.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like cash and bank balances, trade debtors and creditors, bank overdrafts, finance leases and hire purchase contracts and loans to or from related parties.

A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments.

Debt instruments are subsequently measured at amortised cost.

FInancial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss immediately.

Any reversals of impairment are recognised in the profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

50,000

50,000

5.	CURRENT ASSET INVESTMENTS

31.3.21

31.3.20

£

£

Unlisted investments

22,925

22,925

The market value of the investment with a cost of £22,925 is considered in excess of cost on the basis that Percy J Down Ltd has an entitlement to an uplift in the value of the industrial unit it disposed of during the year ended 31 March 2015 which represented 11% of the whole site. At present interest has been expressed in the whole industrial site known as Bristol Fruit Market.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

200,950

200,950

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company had the following transactions with the directors:

T S Down

2021

2020

At the year end the amount due to the director was £107,573 (2020 - £107,573)

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE CONTROLLING PARTY