ACCOUNTS - Final Accounts

PROPERTY EQUITY INVESTMENTS LIMITED - Company Information

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Registered number: 03338458

PROPERTY EQUITY INVESTMENTS LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020

PROPERTY EQUITY INVESTMENTS LIMITED

REGISTERED NUMBER: 03338458

BALANCE SHEET

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Investments	4		2,310,000		2,310,000
			2,310,000		2,310,000

Creditors: amounts falling due within one year	5	(1,658,576)		(1,687,507)
Net current liabilities			(1,658,576)		(1,687,507)

Net assets			651,424		622,493

Capital and reserves
Called up share capital	400,000	400,000
Profit and loss account	251,424	222,493
	651,424	622,493

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2021.

David Gradel

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

PROPERTY EQUITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

Property Equity Investments Limited is a private company limited by shares, incorporated in England and Wales, registration number 03338458. The address of the registered office is 5 Dancastle Court, Arcadia Avenue, London, England, N3 2JU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue represents dividends received.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.5

Creditors

Short term creditors are measured at the transaction price.

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PROPERTY EQUITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.6

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, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).

4.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 January 2020	2,310,000
	At 31 December 2020	2,310,000

5.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Amounts owed to group undertakings	1,657,576	1,686,507
Accruals and deferred income	1,000	1,000
	1,658,576	1,687,507

Page 3

PROPERTY EQUITY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

6.	Related party transactions
	At the year end the company owed £1,657,576 (2019: £1,686,507) to Property Equity Investments (Holdings) Limited, its ultimate parent company. During the year, interest of £57,569 (2019: £58,523) was charged on the loan. During the year, dividends of £87,500 (2019: £87,500) were received from UK Estates Limited, a group company.

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