PNK Properties Limited - Period Ending 2022-06-30

PNK Properties Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Balance Sheet	4
Notes to the Unaudited Financial Statements	5 to 7

PNK Properties Limited

Company Information

Director

Mrs Sapna Panchal

Registered office

Second Floor 150 Fleet Street London EC4A 2DQ

Registered Number

11422932

Accountants

Gower Accountancy Limited Chartered Certified Accountants Second Floor 150-151 Fleet Street London EC4A 2DQ

PNK Properties Limited

Director's Report for the Year Ended 30 June 2022

The director presents her report and the financial statements for the year ended 30 June 2022.

Director of the company

The director who held office during the year was as follows:

Mrs Sapna Panchal

Principal activity

The principal activity of the company is Other letting and operating of own or leased real estate

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 March 2023
 

......................................... Mrs Sapna Panchal Director

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
PNK Properties Limited
for the Year Ended 30 June 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PNK Properties Limited for the year ended 30 June 2022 as set out on pages 4 to 7 from the company's accounting records and from information and explanations given to us.

It is your duty to ensure that PNK Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities and financial position of the company. You consider that PNK Properties Limited is exempt from the statutory audit requirement for the year to 30 June 2022.

We have not been instructed to carry out an audit or a review of the accounts of PNK Properties Limited and 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 accounts.

......................................

Gower Accountancy Limited
Chartered Certified Accountants
Second Floor
150-151 Fleet Street
London
EC4A 2DQ

10 March 2023

PNK Properties Limited

(Registration number: 11422932)
Balance Sheet as at 30 June 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	1,071,818	1,071,818
Current assets
Debtors	5	96,920	45,000
Cash at bank and in hand		9,643	48,722
		106,563	93,722
Creditors: Amounts falling due within one year	6	(7,652)	(9,667)
Net current assets		98,911	84,055
Total assets less current liabilities		1,170,729	1,155,873
Creditors: Amounts falling due after more than one year	6	(1,082,577)	(1,100,340)
Net assets		88,152	55,533
Capital and reserves
Called up share capital	7	150	150
Retained earnings		88,002	55,383
Shareholders' funds		88,152	55,533

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 March 2023
 

.........................................

Mrs Sapna Panchal
Director

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the financial year ending 30 June 2022.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with section 476 of the Companies Act 2006; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

PNK Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Second Floor
150 Fleet Street
London
EC4A 2DQ
United Kingdom

These financial statements were approved by the director on 10 March 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

PNK Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 July 2021	1,071,818	1,071,818
At 30 June 2022	1,071,818	1,071,818
Depreciation
Carrying amount
At 30 June 2022	1,071,818	1,071,818
At 30 June 2021	1,071,818	1,071,818

Included within the net book value of land and buildings above is £1,071,818 (2021 - £1,071,818) in respect of freehold land and buildings.
 

5

Debtors

Current	2022 £	2021 £
Other debtors	96,920	45,000

PNK Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Taxation and social security	7,651	9,667
Other creditors	1	-
	7,652	9,667

Creditors: amounts falling due after more than one year

	2022 £	2021 £
Due after one year
Other non-current financial liabilities	1,082,577	1,100,340

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	150	150	150	150