Pekalp Properties Limited 30/11/2022 iXBRL

Pekalp Properties Limited 30/11/2022 iXBRL

PEKALP PROPERTIES LIMITED - Company Information

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1 30/11/2022 2022-11-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-12-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03202883 2021-12-01 2022-11-30 03202883 2022-11-30 03202883 2020-12-01 2021-11-30 03202883 2021-11-30 03202883 2020-11-30 03202883 bus:RegisteredOffice 2021-12-01 2022-11-30 03202883 bus:LeadAgentIfApplicable 2021-12-01 2022-11-30 03202883 bus:Director1 2021-12-01 2022-11-30 03202883 core:RetainedEarningsAccumulatedLosses 2020-12-01 2021-11-30 03202883 core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 03202883 core:WithinOneYear 2022-11-30 03202883 core:WithinOneYear 2021-11-30 03202883 core:AfterOneYear 2022-11-30 03202883 core:AfterOneYear 2021-11-30 03202883 core:ShareCapital 2022-11-30 03202883 core:ShareCapital 2021-11-30 03202883 core:RevaluationReserve 2022-11-30 03202883 core:RevaluationReserve 2021-11-30 03202883 core:RetainedEarningsAccumulatedLosses 2022-11-30 03202883 core:RetainedEarningsAccumulatedLosses 2021-11-30 03202883 core:ShareCapital 2020-11-30 03202883 core:RevaluationReserve 2020-11-30 03202883 core:RetainedEarningsAccumulatedLosses 2020-11-30 03202883 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 03202883 core:Non-currentFinancialInstruments 2022-11-30 03202883 core:Non-currentFinancialInstruments 2021-11-30 03202883 bus:SmallEntities 2021-12-01 2022-11-30 03202883 bus:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 03202883 bus:AbridgedAccounts 2021-12-01 2022-11-30 03202883 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 03202883 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 03202883 core:OtherRelatedParties 2022-11-30 03202883 core:OtherRelatedParties 2021-11-30
Company registration number: 03202883
Pekalp Properties Limited
Unaudited filleted abridged financial statements
30 November 2022
Pekalp Properties Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Pekalp Properties Limited
Directors and other information
Directors T YUSUF
Company number 03202883
Registered office 187 HIGH ROAD LEYTON
LONDON
E15 2BY
Accountants BENCHMARK ACCOUNTING SERVICES LTD
187 HIGH ROAD LEYTON
LONDON
E15 2BY
Pekalp Properties Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Pekalp Properties Limited
Year ended 30 November 2022
As described on the Statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2022, as set out on pages 3 to 8.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BENCHMARK ACCOUNTING SERVICES LTD
187 HIGH ROAD LEYTON
LONDON
E15 2BY
29 August 2023
Pekalp Properties Limited
Abridged statement of financial position
30 November 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 5,478,625 5,478,625
Investments 6 1,035,016 1,035,016
_______ _______
6,513,641 6,513,641
Current assets
Debtors 150,825 218,672
_______ _______
150,825 218,672
Creditors: amounts falling due
within one year ( 1,499,641) ( 2,042,734)
_______ _______
Net current liabilities ( 1,348,816) ( 1,824,062)
_______ _______
Total assets less current liabilities 5,164,825 4,689,579
Creditors: amounts falling due
after more than one year ( 1,969,977) ( 2,134,340)
Provisions for liabilities ( 1,131,747) ( 1,131,747)
_______ _______
Net assets 2,063,101 1,423,492
_______ _______
Capital and reserves
Called up share capital 75,100 75,100
Revaluation reserve 6,499,065 6,499,065
Profit and loss account ( 4,511,064) ( 5,150,673)
_______ _______
Shareholders funds 2,063,101 1,423,492
_______ _______
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 29 August 2023 , and are signed on behalf of the board by:
T YUSUF
Director
Company registration number: 03202883
Pekalp Properties Limited
Statement of changes in equity
Year ended 30 November 2022
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 1 December 2020 75,100 6,499,065 ( 1,021,294) 5,552,871
Profit/(loss) for the year ( 464,379) ( 464,379)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 464,379) ( 464,379)
Dividends paid and payable ( 3,665,000) ( 3,665,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 3,665,000) ( 3,665,000)
_______ _______ _______ _______
At 30 November 2021 and 1 December 2021 75,100 6,499,065 ( 5,150,673) 1,423,492
Profit/(loss) for the year 639,609 639,609
_______ _______ _______ _______
Total comprehensive income for the year - - 639,609 639,609
_______ _______ _______ _______
At 30 November 2022 75,100 6,499,065 ( 4,511,064) 2,063,101
_______ _______ _______ _______
Pekalp Properties Limited
Notes to the financial statements
Year ended 30 November 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 187 HIGH ROAD LEYTON, LONDON, E15 2BY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration of rent received or receivable.
Revenue from rent is recognised when the significant risks and rewards of ownership have transferred to the tenant and the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
£
Cost
At 1 December 2021 and 30 November 2022 5,478,625
_______
Depreciation
At 1 December 2021 and 30 November 2022 -
_______
Carrying amount
At 30 November 2022 5,478,625
_______
At 30 November 2021 5,478,625
_______
6. Investments
£
Cost
At 1 December 2021 and 30 November 2022 1,035,016
_______
Impairment
At 1 December 2021 and 30 November 2022 -
_______
Carrying amount
At 30 November 2022 1,035,016
_______
At 30 November 2021 1,035,016
_______
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2022 2021 2022 2021
£ £ £ £
Other related parties ( 84,000) ( 84,000) ( 1,042,420) ( 1,616,027)
Other related parties - - 71,583 114,090
_______ _______ _______ _______