PM PROPERTIES SOUTHERN LIMITED - Accounts

PM PROPERTIES SOUTHERN LIMITED - Company Information

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Registered Number: 10524574

England and Wales

PM PROPERTIES SOUTHERN LIMITED

Unaudited Financial Statements

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

PM PROPERTIES SOUTHERN LIMITED
Contents Page
For the year ended 31 May 2023

Company information	1
Director's report	2
Statement of financial position	3

PM PROPERTIES SOUTHERN LIMITED
Company Information
For the year ended 31 May 2023

Director	Panayiotis Maraziotis
Registered Number	10524574
Registered Office	6 Lime Gardens West End Southampton Hampshire SO30 3RG
Accountants	JSR Management & HR Consultancy Services Ltd 1 The Bridgeway Portsmouth Road, Woolston Southampton SO19 7PE

PM PROPERTIES SOUTHERN LIMITED
Director's Report
For the year ended 31 May 2023

Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 May 2023.

Principal activities

Principal activity of the company during the financial year was of Building Refurbishment, Consultancy and Project Management, plus Property Rental

Director
The director who served the company throughout the year was as follows:

Panayiotis Maraziotis

Statement of director's responsibilities

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 105). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :

select suitable accounting policies and then apply them consistently
make judgements and accounting estimates that are reasonable and prudent
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

Employment of disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the respective aptitudes and abilities of the applicant concerned. In the event of employees becoming disabled every effort is made to ensure that their employment with the company continues and the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of a disabled person should, as far as possible, be identical to that of an employee who does not suffer from a disability.

On behalf of the board.

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Panayiotis Maraziotis
Director

Date approved: 20 May 2024

Registered Number: 10524574 PM PROPERTIES SOUTHERN LIMITED
Statement of Financial Position
As at 31 May 2023

	2023		2022
	£	£	£	£
Called up share capital not paid		100		100
Fixed assets		1,045,132		358,437
Current assets	11,909		3,698
Creditors: amount falling due within one year	(8,341)		(201,073)
Net current assets		3,568		(197,375)
Total assets less current liabilities		1,048,800		161,162
Creditors: amount falling due after more than one year		(878,661)		(144,618)
Net assets		170,139		16,544


Capital and reserves		170,139		16,544

NOTES TO THE ACCOUNTS

General Information

PM PROPERTIES SOUTHERN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10524574, registration address 6 Lime Gardens, West End, Southampton, Hampshire, SO30 3RG.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

25% Straight Line

Investment properties

Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Tangible fixed assets

Cost or valuation	Land and Buildings	Computer Equipment	Investment properties	Total
	£	£	£	£
At 01 June 2022	156,548	399	174,129	331,076
Additions	-	-	505,135	505,135
Disposals	-	-	-	-
Revaluations	27,437	-	181,751	209,188
At 31 May 2023	183,985	399	861,015	1,045,399
Depreciation
At 01 June 2022	-	76	-	76
Charge for year	-	191	-	191
On disposals	-	-	-	-
At 31 May 2023	-	267	-	267
Net book values
Closing balance as at 31 May 2023	183,985	132	861,015	1,045,132
Opening balance as at 01 June 2022	183,985	323	174,129	358,437

3.	Average number of employees including Directors Average number of employees during the year was 1 (2022 : 2).

For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 20 May 2024 and were signed by:

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Panayiotis Maraziotis
Director