| Phil McDiarmid Property Management Limited |
| Registered number: |
05259837 |
| Balance Sheet |
| as at 30 April 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
3,007,264 |
|
|
3,865,852 |
|
| Current assets |
| Debtors |
4 |
|
238,036 |
|
|
162,904 |
| Cash at bank and in hand |
|
|
16,501 |
|
|
18,223 |
|
|
|
254,537 |
|
|
181,127 |
|
| Creditors: amounts falling due within one year |
5 |
|
(662,725) |
|
|
(723,810) |
|
| Net current liabilities |
|
|
|
(408,188) |
|
|
(542,683) |
|
| Total assets less current liabilities |
|
|
|
2,599,076 |
|
|
3,323,169 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(2,020,216) |
|
|
(2,284,691) |
|
| Provisions for liabilities |
|
|
|
(67,214) |
|
|
(182,187) |
|
|
| Net assets |
|
|
|
511,646 |
|
|
856,291 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Fair value reserve |
7 |
|
|
282,464 |
|
|
776,004 |
| Profit and loss account |
|
|
|
229,180 |
|
|
80,285 |
|
| Shareholders' funds |
|
|
|
511,646 |
|
|
856,291 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Philip McDiarmid |
| Director |
| Approved by the board on 25 January 2023 |
|
| Phil McDiarmid Property Management Limited |
| Notes to the Accounts |
| for the year ended 30 April 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Investment Property |
|
Investments property is carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Statement. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 May 2021 |
3,865,000 |
|
26,063 |
|
3,891,063 |
|
Additions |
- |
|
2,031 |
|
2,031 |
|
Surplus on revaluation |
(364,730) |
|
- |
|
(364,730) |
|
Disposals |
(495,000) |
|
(568) |
|
(495,568) |
|
At 30 April 2022 |
3,005,270 |
|
27,526 |
|
3,032,796 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2021 |
- |
|
25,211 |
|
25,211 |
|
Charge for the year |
- |
|
828 |
|
828 |
|
On disposals |
- |
|
(507) |
|
(507) |
|
At 30 April 2022 |
- |
|
25,532 |
|
25,532 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2022 |
3,005,270 |
|
1,994 |
|
3,007,264 |
|
At 30 April 2021 |
3,865,000 |
|
852 |
|
3,865,852 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2022 |
|
2021 |
| £ |
£ |
|
Historical cost |
2,653,505 |
|
2,906,970 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
2,653,505 |
|
2,906,970 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Other debtors |
238,036 |
|
162,904 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
3,723 |
|
- |
|
Trade creditors |
28,971 |
|
7,462 |
|
Corporation tax |
34,657 |
|
2,840 |
|
Other creditors |
595,374 |
|
713,508 |
|
|
|
|
|
|
662,725 |
|
723,810 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
26,370 |
|
31,250 |
|
Other creditors |
1,993,846 |
|
2,253,441 |
|
|
|
|
|
|
2,020,216 |
|
2,284,691 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Fair value reserve |
2022 |
|
2021 |
| £ |
£ |
|
|
At 1 May 2021 |
776,004 |
|
746,034 |
|
(Loss)/gain on revaluation of land and buildings |
(608,730) |
|
37,000 |
|
Deferred taxation arising on the revaluation of land and buildings |
115,190 |
|
(7,030) |
|
|
At 30 April 2022 |
282,464 |
|
776,004 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Phil McDiarmid Property Management Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
73 High Street |
|
Sutton |
|
Ely |
|
Cambs |
|
CB6 2NL |
