Company Registration No. 12110914 (England and Wales)
P&D Property (Oldham) No.2 Ltd
Unaudited accounts
for the year ended 31 July 2022
P&D Property (Oldham) No.2 Ltd
Unaudited accounts
Contents
P&D Property (Oldham) No.2 Ltd
Company Information
for the year ended 31 July 2022
Directors
Peter Charnley
Dale Wild
Company Number
12110914 (England and Wales)
Registered Office
Hare House
732 Whittingham Lane
Preston
PR3 2JJ
Accountants
The Tax Farm
Hare House
732 Whittingham Lane
Preston
PR3 2JJ
P&D Property (Oldham) No.2 Ltd
Statement of financial position
as at 31 July 2022
Investment property
700,000
700,000
Cash at bank and in hand
147,187
69,571
Creditors: amounts falling due within one year
(10,247)
(11,325)
Net current assets
137,234
93,550
Total assets less current liabilities
837,234
793,550
Creditors: amounts falling due after more than one year
(617,548)
(617,548)
Provisions for liabilities
Deferred tax
(17,100)
(17,100)
Net assets
202,586
158,902
Called up share capital
10
10
Profit and loss account
202,576
158,892
Shareholders' funds
202,586
158,902
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2023 and were signed on its behalf by
Peter Charnley
Director
Company Registration No. 12110914
P&D Property (Oldham) No.2 Ltd
Notes to the Accounts
for the year ended 31 July 2022
P&D Property (Oldham) No.2 Ltd is a private company, limited by shares, registered in England and Wales, registration number 12110914. The registered office is Hare House, 732 Whittingham Lane, Preston, PR3 2JJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fair value at 1 August 2021
700,000
The fair values of the investment properties have been arrived at on the basis of a valuation carried out by the directors at the year end.
P&D Property (Oldham) No.2 Ltd
Notes to the Accounts
for the year ended 31 July 2022
Amounts falling due within one year
Accrued income and prepayments
284
7,326
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
10,247
11,325
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
436,691
436,691
Amounts owed to group undertakings and other participating interests
180,857
180,857
8
Deferred taxation
2022
2021
Revaluation of investment property
17,100
17,100
Provision at start of year
17,100
17,100
Provision at end of year
17,100
17,100
P&D Property (Oldham) No.2 Ltd is a wholly own subsidiary of P&D Property (Oldham) Ltd.
10
Average number of employees
During the year the average number of employees was 0 (2021: 0).
