Poldice Properties Limited - Accounts to registrar (filleted) - small 23.1.2
Poldice Properties Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| FOR |
| POLDICE PROPERTIES LIMITED |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| POLDICE PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Old Carriage Works |
| Moresk Road |
| TRURO |
| Cornwall |
| TR1 1DG |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| BALANCE SHEET |
| 31 DECEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 11 |
| Retained earnings |
| 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. |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2022 |
| 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 |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| Poldice Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Rental income is recognised on an accruals basis. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The freehold property is held at the valuation on transition to FRS102 as deemed cost. |
| The cost of tangible assets includes directly attributable incremental costs incurred in the acquisition and installation. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is carried at fair value, derived from current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account. No depreciation is provided on investment properties. |
| 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. |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2022 |
| and 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Office |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2022 |
| and 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| Included within the net book value of land and buildings above is £220,000 (2021: £220,000) in respect of freehold land and buildings. The freehold property is held at deemed cost, being the valuation on transition to FRS. The historical cost of this asset was £54,866. |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2022 |
| and 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| The company owns 100% of the Ordinary shares in Triplet Car Spares Limited, a dormant company. |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2022 |
| Additions |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| The directors consider this represents the year end value of the properties. This class of assets has a current value of £1,308,825 (2021: £1,305,375) and a carrying amount at historical cost of £270,076 (2021: £270,076). The depreciation on this historical cost is £nil (2021: £nil). |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans - 5 years + | 3,290 | 7,990 |
| POLDICE PROPERTIES LIMITED (REGISTERED NUMBER: 00863310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2022 |
| and 31 December 2022 |