Puccini Properties of Warwick Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04430548 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

FOR

PUCCINI PROPERTIES OF WARWICK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Firmstone

Mrs H M Vaughan

M W Firmstone

R J Vaughan

REGISTERED OFFICE:

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

REGISTERED NUMBER:

04430548 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Investment property

4

639,000

270,320

CURRENT ASSETS

Debtors

5

1,730

27,277

Cash at bank

31,253

26,730

32,983

54,007

CREDITORS

Amounts falling due within one year

6

5,321

7,312

NET CURRENT ASSETS

27,662

46,695

TOTAL ASSETS LESS CURRENT LIABILITIES

666,662

317,015

CREDITORS

Amounts falling due after more than one year

7

-

(31,524

)

PROVISIONS FOR LIABILITIES

(70,000

)

-

NET ASSETS

596,662

285,491

CAPITAL AND RESERVES

Called up share capital

6

6

Revaluation reserve

9

298,680

-

Retained earnings

297,976

285,485

SHAREHOLDERS' FUNDS

596,662

285,491

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 16 August 2021 and were signed on its behalf by:

D Firmstone - Director

1.	STATUTORY INFORMATION

Puccini Properties of Warwick 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2020

270,320

Revaluations

368,680

At 31 May 2021

639,000

NET BOOK VALUE

At 31 May 2021

639,000

At 31 May 2020

270,320

Fair value at 31 May 2021 is represented by:

£

Valuation in 2021

368,680

Cost

270,320

639,000

The investment properties are included at market as determined by the directors at the year end.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,000

1,000

Other debtors

730

26,277

1,730

27,277

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

2,750

Taxation and social security

3,868

3,108

Other creditors

1,453

1,454

5,321

7,312

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

-

31,524

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

20,524

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

-

34,274

9.

RESERVES

Revaluation

reserve

£

Revaluation reserve

298,680

At 31 May 2021

298,680

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Firmstone.