Pedro's Properties Limited - Limited company accounts 20.1

REGISTERED NUMBER: 08055140 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 August 2022

for

Pedro's Properties Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P Fernback

A S Patterson

REGISTERED OFFICE:

Enterprise House

27 Hastings Road

Bromley

Kent

BR2 8NA

REGISTERED NUMBER:

08055140 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 August 2022.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of buying and renting of own property.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2021 to the date of this report.

P Fernback

A S Patterson

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

ON BEHALF OF THE BOARD:

P Fernback - Director

26 May 2023

TURNOVER

43,194

29,834

Cost of sales

(30,115

)

27,558

GROSS PROFIT

73,309

2,276

Administrative expenses

194

188

OPERATING PROFIT and

PROFIT BEFORE TAXATION

73,115

2,088

Tax on profit

2,724

2,700

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

70,391

(612

)

FIXED ASSETS

Tangible assets

4

409,141

349,822

CURRENT ASSETS

Debtors

5

8,328

5,245

Cash at bank

15,284

863

23,612

6,108

CREDITORS

Amounts falling due within one year

6

136,802

130,371

NET CURRENT LIABILITIES

(113,190

)

(124,263

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

295,951

225,559

CAPITAL AND RESERVES

Called up share capital

2

Revaluation reserve

7

61,000

Retained earnings

234,949

164,557

SHAREHOLDERS' FUNDS

295,951

225,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2023 and were signed on its behalf by:

P Fernback - Director

1.	STATUTORY INFORMATION

Pedro's Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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 NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 September 2021

and 31 August 2022

409,141

NET BOOK VALUE

At 31 August 2022

409,141

At 31 August 2021

409,141

Cost or valuation at 31 August 2022 is represented by:

Land and

buildings

£

Valuation in 2017

217,500

Valuation in 2018

61,000

Cost

130,641

409,141

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

Trade debtors

1,679

366

Other debtors

6,649

4,879

8,328

5,245

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

Trade creditors

4,960

2,586

Taxation and social security

2,724

-

Other creditors

129,118

127,785

136,802

130,371

7.

RESERVES

Revaluation

reserve

£

At 1 September 2021

and 31 August 2022

61,000

8.	RELATED PARTY DISCLOSURES

At the year end Pedro's Properties Ltd was owed the following amounts from related parties;

Company

2022

2021

Blue Marlin Ltd

2,676

2,008

At the year end Pedro's Properties Ltd owed the following amounts from related parties;

Company

2022

2021

Brighton & Hove Pub Co Ltd

108,000