Privatetrans Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02306123 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PRIVATETRANS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

D Kennedy

SECRETARY:

F Butterfield

REGISTERED OFFICE:

29 Welbeck Street

London

W1G 8DA

REGISTERED NUMBER:

02306123 (England and Wales)

FIXED ASSETS

Tangible assets

4

2

1,745

Investment property

5

3,527,255

3,400,152

3,527,257

3,401,897

CURRENT ASSETS

Debtors

6

754,432

793,792

Cash at bank and in hand

8,558

17,743

762,990

811,535

CREDITORS

Amounts falling due within one year

7

1,358,758

1,348,759

NET CURRENT LIABILITIES

(595,768

)

(537,224

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,931,489

2,864,673

CREDITORS

Amounts falling due after more than one year

8

(31,344

)

(39,258

)

PROVISIONS FOR LIABILITIES

(412,699

)

(412,699

)

NET ASSETS

2,487,446

2,412,716

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

9

1,935,390

1,935,390

Retained earnings

552,054

477,324

SHAREHOLDERS' FUNDS

2,487,446

2,412,716

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 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.

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 director and authorised for issue on 15 February 2024 and were signed by:

D Kennedy - Director

1.	STATUTORY INFORMATION

Privatetrans 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 rentals received or receivable.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land (under investment properties), at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Leasehold land and buildings

over the lease term

Plant and machinery

15% Reducing balance method

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 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 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

87,667

DEPRECIATION

At 1 April 2022

85,922

Charge for year

1,743

At 31 March 2023

87,665

NET BOOK VALUE

At 31 March 2023

2

At 31 March 2022

1,745

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

3,471,889

Additions

127,103

At 31 March 2023

3,598,992

DEPRECIATION

At 1 April 2022

and 31 March 2023

71,737

NET BOOK VALUE

At 31 March 2023

3,527,255

At 31 March 2022

3,400,152

Fair value at 31 March 2023 is represented by:

£

Valuation in 2017

1,841,052

Valuation in 2022

578,774

Cost

1,179,166

3,598,992

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed by associates

582,765

622,124

Other debtors

171,667

171,668

754,432

793,792

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

1,263,710

1,263,598

Trade creditors

(1

)

11,879

Taxation and social security

55,731

34,209

Other creditors

39,318

39,073

1,358,758

1,348,759

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

31,344

39,258

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

31,344

39,258

9.

RESERVES

Fair

value

reserve

£

At 1 April 2022

and 31 March 2023

1,935,390

10.	RELATED PARTY DISCLOSURES

A loan has been advanced to SCI Vence 1 (registered in france) registered office 9 Rue De Scribe, 75009 Paris, France for £532,000. Mr David Kennedy and Mrs Fiona Kennedy are also the director and shareholder of the SCI Vence 1.

The loan is to be treated as open ended until the last payment has been made. Interest is charged 2.5%. Interest is paid in arrears yearly over the period of loan. There are no early surrender penalties.

As at 31st March 2023, the director, Mr David Kennedy had loan outstanding of £171,667 (2022 : 171,667).

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Privatetrans Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Privatetrans Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Privatetrans Limited and state those matters that we have agreed to state to the director of Privatetrans Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Privatetrans Limited and its director for our work or for this report.

It is your duty to ensure that Privatetrans Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Privatetrans Limited. You consider that Privatetrans Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Privatetrans Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Date: .............................................