Pendragon Residential Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07790104 (England and Wales)

Financial Statements

for the Year Ended 31 March 2023

for

Pendragon Residential Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S E Thomas

D W Burditt

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

07790104 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

53,922

35,200

Investment property

6

1,471,500

1,561,500

1,525,422

1,596,700

CURRENT ASSETS

Debtors

7

634

351

Cash at bank

1,411

3,213

2,045

3,564

CREDITORS

Amounts falling due within one year

8

(126,250

)

(30,435

)

NET CURRENT LIABILITIES

(124,205

)

(26,871

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,401,217

1,569,829

CREDITORS

Amounts falling due after more than one year

9

(1,276,162

)

(1,438,909

)

PROVISIONS FOR LIABILITIES

(4,913

)

(8,280

)

NET ASSETS

120,142

122,640

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

108,356

117,702

Retained earnings

11,686

4,838

SHAREHOLDERS' FUNDS

120,142

122,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 August 2023 and were signed on its behalf by:

S E Thomas - Director

1.	STATUTORY INFORMATION

Pendragon Residential 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and on a going concern basis, which the Directors consider to be appropriate as they have agreed not to withdraw their loan accounts and to provide the necessary finance to enable the company to meet its liabilities as they fall due.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue represents rents receivable by the company and consultancy services..

Tangible fixed assets

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

Motor vehicles

-

20% on reducing balance

Office equipment

-

Straight line over 5 years

Investment property

Investment properties are valued at fair value at each reporting date, with gains or losses recognised in the profit and loss account. Properties are revalued annually using an open market valuation basis. Material deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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 statement of financial position date.

For investment properties measured at fair value deferred tax is measured using the tax rates and allowances that will apply on the eventual sale of the property.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Motor

Office

vehicles

equipment

Totals

£

£

£

Cost

At 1 April 2022

55,790

1,505

57,295

Additions

32,294

-

32,294

At 31 March 2023

88,084

1,505

89,589

Depreciation

At 1 April 2022

21,728

367

22,095

Charge for year

13,271

301

13,572

At 31 March 2023

34,999

668

35,667

Net book value

At 31 March 2023

53,085

837

53,922

At 31 March 2022

34,062

1,138

35,200

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2022

1,561,500

Disposals

(90,000

)

At 31 March 2023

1,471,500

Net book value

At 31 March 2023

1,471,500

At 31 March 2022

1,561,500

Fair value at 31 March 2023 is represented by:

£

Valuation in 2013

55,000

Valuation in 2018

57,500

Cost

1,359,000

1,471,500

If the investment properties had not been revalued they would have been included at the following historical cost:

31/3/23

31/3/22

£

£

Cost

1,359,000

1,439,000

The investment properties were valued on an open market basis on 31 March 2023 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/23

31/3/22

£

£

Other debtors

634

351

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/23

31/3/22

£

£

Bank loans and overdrafts

5,000

5,000

Hire purchase contracts

30,712

7,639

Taxation and social security

(98

)

616

Other creditors

90,636

17,180

126,250

30,435

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/23

31/3/22

£

£

Bank loans

10,833

15,833

Hire purchase contracts

14,375

24,962

Other creditors

1,250,954

1,398,114

1,276,162

1,438,909

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

356,300

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/23

31/3/22

£

£

Other loans

356,300

-

The other creditors are secured by a fixed charge over one of the properties within fixed asset investments.