P B Investment Properties Limited - Accounts to registrar (filleted) - small 18.2

P B Investment Properties Limited - Accounts to registrar (filleted) - small 18.2

P B INVESTMENT PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 08279379 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

P B INVESTMENT PROPERTIES LIMITED

P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P B INVESTMENT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2021







DIRECTORS: P S Sidhu
B S Sidhu





REGISTERED OFFICE: Unit 80 - 82
Great Bridge industrial Estate
Tipton
West Midlands
DY4 0HR





REGISTERED NUMBER: 08279379 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Chartered Accountants
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG
Page 1
P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

BALANCE SHEET
30 APRIL 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,662 10,190
Investment property 5 4,830,000 4,830,000
4,838,662 4,840,190

CURRENT ASSETS
Debtors 6 19,810 7,635
Cash at bank 18,469 91,462
38,279 99,097
CREDITORS
Amounts falling due within one year 7 895,650 1,195,591
NET CURRENT LIABILITIES (857,371 ) (1,096,494 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,981,291
3,743,696

CREDITORS
Amounts falling due after more than
one year
8
(1,765,181
)
(1,884,606
)

PROVISIONS FOR LIABILITIES (82,606 ) (82,897 )
NET ASSETS 2,133,504 1,776,193

The notes form part of these financial statements

Page 2 continued...
P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

BALANCE SHEET - continued
30 APRIL 2021

2021 2020
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 598,306 598,306
Retained earnings 1,535,098 1,177,787
2,133,504 1,776,193

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 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 28 January 2022 and were signed on its behalf by:





B S Sidhu - Director


The notes form part of these financial statements

Page 3
P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021


1. STATUTORY INFORMATION

P B Investment 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.

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.

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

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.

Page 4 continued...
P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2021


2. ACCOUNTING POLICIES - continued

Going concern
The company has cash resources and has external funding secured over the assets of the company. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis appropriate in preparing the annual financial statements.

As a result of the spread of COVID-19 coronavirus, economic uncertainties have arisen which may negatively affect the financial position, results of operations, and cash flows of the Company. The duration of these uncertainties and the ultimate financial effects cannot be reasonably estimated at this time. The business has taken adequate provisions to control the impact the pandemic may have.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2020
and 30 April 2021 16,229
DEPRECIATION
At 1 May 2020 6,039
Charge for year 1,528
At 30 April 2021 7,567
NET BOOK VALUE
At 30 April 2021 8,662
At 30 April 2020 10,190

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2020
and 30 April 2021 4,830,000
NET BOOK VALUE
At 30 April 2021 4,830,000
At 30 April 2020 4,830,000

Page 5 continued...
P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2021


5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2021 is represented by:
£   
Valuation in 2020 615,357
Cost 4,214,643
4,830,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2021 2020
£    £   
Cost 4,214,643 4,214,643

The Investment properties were valued on an open market basis on 30 April 2020 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 7,473 215
Other debtors 12,337 7,420
19,810 7,635

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 119,784
Trade creditors 3,769 11,656
Amounts owed to participating interests 460,343 606,204
Taxation and social security 143,251 62,869
Other creditors 288,287 395,078
895,650 1,195,591

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2021 2020
£    £   
Bank loans 1,765,181 1,884,606

Page 6 continued...
P B INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 08279379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2021


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2021 2020
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,765,181 629,424

Page 7