Podmore Property Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02105101 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

PODMORE PROPERTY LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTORS:

Mrs J A Fraser

Ms V A Podmore

REGISTERED OFFICE:

Suite 204

Ashton Old Baths

Stamford Street West

Ashton under Lyne

Lancashire

OL6 7FW

REGISTERED NUMBER:

02105101 (England and Wales)

ACCOUNTANTS:

Hanley & Co

Chartered Accountants

Suite 204 Ashton Old Baths

Stamford Street West

Ashton under Lyne

OL6 7FW

BANKERS:

Yorkshire Bank PLC

34 Princes Street

Stockport

Cheshire

SK1 1RE

FIXED ASSETS

Property, plant and equipment

4

284,800

284,800

CURRENT ASSETS

Debtors

40,000

25,000

Cash at bank

56,849

61,402

96,849

86,402

CREDITORS

Amounts falling due within one year

20,157

17,764

NET CURRENT ASSETS

76,692

68,638

TOTAL ASSETS LESS CURRENT LIABILITIES

361,492

353,438

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Revaluation reserve

5

183,605

183,605

Retained earnings

147,887

139,833

SHAREHOLDERS' FUNDS

361,492

353,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 August 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2023 and were signed on its behalf by:

Ms V A Podmore - Director

1.	STATUTORY INFORMATION

Podmore Property Ltd 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 represents net invoiced rent.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold buildings No depreciation

The directors have considered the current value of the building, it's ultimate residual value and it's expected useful life. They consider that any depreciation charge calculation on the buildings would be an insignificant amount and they therefore do not consider it necessary to provide for depreciation in the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - NIL ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST OR VALUATION

At 1 September 2021

and 31 August 2022

284,800

NET BOOK VALUE

At 31 August 2022

284,800

At 31 August 2021

284,800

Cost or valuation at 31 August 2022 is represented by:

Totals

£

Valuation in 2001

196,866

Valuation in 2005

116,740

Valuation in 2012

(65,000

)

Valuation in 2015

(65,000

)

Cost

101,194

284,800

If Freehold Land and Buildings had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

76,394

76,394

Freehold Land and Buildings were valued on an open market basis on 20 May 2005 by Impey & Co Chartered Valuation Surveyors .

This was revised by the Directors in 2015 bearing in mind current market condition.

5.

RESERVES

Revaluation

reserve

£

At 1 September 2021

and 31 August 2022

183,605

6.	RELATED PARTY DISCLOSURES

Creditors : amounts falling due within one year - includes interest free directors loans of £13,854 (£13,855 - 2021)

Other debtors includes interest free loans total £40,000 (2021 £25,000) to a limited company owned by one of the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Podmore Property Ltd for the year ended 31 August 2022 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Podmore Property Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Podmore Property Ltd and state those matters that we have agreed to state to the Board of Directors of Podmore Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Podmore Property Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Podmore Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Podmore Property Ltd. You consider that Podmore Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Podmore Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hanley & Co

Chartered Accountants

Suite 204 Ashton Old Baths

Stamford Street West

Ashton under Lyne

OL6 7FW

12 January 2023