ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

PDIL HOLDINGS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01Real Estate22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11894244 2022-04-01 2023-03-31 11894244 2021-04-01 2022-03-31 11894244 2023-03-31 11894244 2022-03-31 11894244 c:Director2 2022-04-01 2023-03-31 11894244 d:CurrentFinancialInstruments 2023-03-31 11894244 d:CurrentFinancialInstruments 2022-03-31 11894244 d:Non-currentFinancialInstruments 2023-03-31 11894244 d:Non-currentFinancialInstruments 2022-03-31 11894244 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11894244 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11894244 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11894244 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11894244 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11894244 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 11894244 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11894244 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 11894244 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 11894244 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 11894244 d:ShareCapital 2023-03-31 11894244 d:ShareCapital 2022-03-31 11894244 d:RetainedEarningsAccumulatedLosses 2023-03-31 11894244 d:RetainedEarningsAccumulatedLosses 2022-03-31 11894244 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11894244 c:OrdinaryShareClass1 2023-03-31 11894244 c:OrdinaryShareClass1 2022-03-31 11894244 c:FRS102 2022-04-01 2023-03-31 11894244 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11894244 c:FullAccounts 2022-04-01 2023-03-31 11894244 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11894244 6 2022-04-01 2023-03-31 11894244 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11894244

PDIL HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

PDIL HOLDINGS LIMITED

REGISTERED NUMBER: 11894244

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Investments	4		2		2
			2		2
Current assets
Stocks	5	321,000		550,259
Debtors: amounts falling due within one year	6	186,638		138,345
Cash at bank and in hand	7	1,020		2,586
		508,658		691,190
Creditors: amounts falling due within one year	8	(287,551)		(286,071)
Net current assets			221,107		405,119
Total assets less current liabilities			221,109		405,121
Creditors: amounts falling due after more than one year	9		(284,060)		(434,667)

Net liabilities			(62,951)		(29,546)

Capital and reserves
Called up share capital	11	4	4
Profit and loss account		(62,955)	(29,550)
		(62,951)	(29,546)

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PDIL HOLDINGS LIMITED

REGISTERED NUMBER: 11894244

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 December 2023.

M H Potts

Director

The notes on pages 3 to 7 form part of these financial statements.

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PDIL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

PDIL Holdings Ltd is a private company limited by shares and registered in England and Wales. The registered office is Tancred, Sevenoaks Road, Pratts Bottom, Orpington, BR2 7SE. The principal activity of the company during the year has been that of property development.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency of the financial statements is the pound sterling (GBP).

The following principal accounting policies have been applied:

2.2

Going concern

The company is considered to be a going concern on the basis that the director is expected to continue to support the company, via directors loans, for the foreseeable future.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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PDIL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.8

Stocks and Work in progress

Stocks and work in progress, in relation to development properties, are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks and work in progress are assessed for impairment. If stock and work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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PDIL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.12

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loan to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2022	2
	At 31 March 2023	2

5.	Stocks
		2023	2022
		£	£

Work in progress - Development properties	321,000	550,259
	321,000	550,259

Debtors

					2023	2022
					£	£


Amounts owed by group undertakings	186,638	138,345
	186,638	138,345

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PDIL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

7.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	1,020	2,586
	1,020	2,586

8.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Bank loans	5,253	5,123
Other creditors	282,298	280,948
	287,551	286,071

9.	Creditors: Amounts falling due after more than one year
		2023	2022
		£	£

Bank loans	35,432	40,689
Other loans	248,628	393,978
	284,060	434,667

Secured loans
Other loans are secured by way of a fixed charge against development properties held in stock.

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PDIL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Amounts falling due within one year
Bank loans	5,253	5,123
Amounts falling due 1-2 years
Bank loans	5,385	5,252
Amounts falling due 2-5 years
Bank loans	16,987	16,568
Amounts falling due after more than 5 years
Bank loans	13,060	18,869
Other loans	248,628	393,978
	289,313	439,790

11.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

4 (2022 - 4) Ordinary shares of £1.00 each	4	4

12.	Related party transactions
	Included within other creditors due within one year is an amount of £282,298 (2022 - £280,948) due to the directors of the company.

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