P.R.N. Properties Limited - Accounts to registrar (filleted) - small 23.1.2
P.R.N. Properties Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| P.R.N. Properties Limited |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
| P.R.N. Properties Limited (Registered number: 04997883) |
| 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 |
| P.R.N. Properties Limited |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 9 Market Place |
| Hedon |
| East Yorkshire |
| HU12 8JA |
| P.R.N. Properties Limited (Registered number: 04997883) |
| BALANCE SHEET |
| 31 December 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| P.R.N. Properties Limited (Registered number: 04997883) |
| BALANCE SHEET - continued |
| 31 December 2022 |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| P.R.N. Properties Limited (Registered number: 04997883) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| P.R.N. Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Freehold property | - |
| Fixtures and fittings | - |
| 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 Profit and Loss Account, 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. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| P.R.N. Properties Limited (Registered number: 04997883) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2022 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 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 |
| Cost or valuation at 31 December 2022 is represented by: |
| Fixtures |
| and |
| fittings |
| £ |
| Cost | 1,175 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Additions |
| Revaluations | 68,243 |
| Reclassification/transfer | 596,233 |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| Fair value at 31 December 2022 is represented by: |
| £ |
| Valuation in 2015 | 9,267 |
| Valuation in 2016 | 14,835 |
| Valuation in 2017 | 15,000 |
| Valuation in 2022 | 68,243 |
| Cost | 671,355 |
| 778,700 |
| P.R.N. Properties Limited (Registered number: 04997883) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2022 |
| 5. | INVESTMENT PROPERTY - continued |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 671,355 | 244,898 |
| The investment properties were valued on an open market value basis on 31 December 2022 by the directors . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Tax |
| S A Pharmacy Limited loan |
| Directors' current accounts | 33,547 | 9,422 |
| Accruals |
| 8. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2022 | 74,983 |
| Profit for the year |
| Revaluation | - | 68,243 | 68,243 |
| Deferred tax | - | (6,692 | ) | (6,692 | ) |
| At 31 December 2022 | 142,564 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr P S Rowbotham. |