PIP Investments Limited - Accounts to registrar (filleted) - small 17.3
PIP Investments Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| PIP INVESTMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PIP INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 7 St John Street |
| Mansfield |
| Nottinghamshire |
| NG18 1QH |
| BANKERS: |
| Ariel House |
| 2138 Coventry Road |
| Sheldon |
| B26 3JW |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| 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. |
| 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 on by: |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| PIP Investments Limited is a |
| 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 |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about PIP Investments Limited as an individual company and do not |
| contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| The significant judgements and estimates are as follows: |
| The directors estimate of the residual value of the property and consider that if any depreciation was to be |
| charged, would be immaterial. |
| The other significant judgements and estimates are detailed in the accounting policy of the fixed assets |
| depreciation rates. The rates are annually reviewed in line to what the directors believe the assets are worth |
| taken into account the income streams generated by those assets. |
| Turnover |
| Turnover represents the value excluding Value Added Tax of property sales to customers during the year. In |
| respect of property sales, all income is taken to profit and loss at the same point as the right to receive |
| consideration has been acquired. |
| Rental income is accounted for on an accruals basis and income is taken to the profit and loss at the same point |
| as the right to receive consideration has been acquired. |
| Tangible fixed assets |
| Plant and machinery | - |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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. |
| Financial instruments |
| Financial instruments and equity instruments are classified according to the substance of the contractual |
| arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of |
| the entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt |
| instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as |
| such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the |
| profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the |
| outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability |
| then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited |
| direct to equity. |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| The directors have reviewed the value of the investment property at the balance sheet date, against the current |
| market value at that date, and they do not believe that the value of the investment property is materially different |
| to the value stated in the balance sheet. As such no revaluation has been made. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Amounts owed by group undertakings |
| Directors' current accounts | 20,778 | - |
| Called up share capital not paid |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Directors' current accounts | - | 280,925 |
| Accruals and deferred income |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans |
| Bank loans more 5 yr by instal |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 215,715 | - |
| Included in amounts due after more than one year are amounts due after more than 5 years by instalments as |
| follows: |
| 2017 | 2016 |
| £ | £ |
| Bank loans | 23,397 | 31,812 |
| 23,397 | 31,812 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The bank loan is secured on the investment property. |
| 11. | CAPITAL COMMITMENTS |
| The company had no capital commitments, or contingent liabilities at the balance sheet date. |
| PIP INVESTMENTS LIMITED (REGISTERED NUMBER: 07625045) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the outstanding balances with companies in which Mr A Soar and Mrs P Soar are |
| directors: |
| 2017 | 2016 |
| £ | £ |
| Goldman Hunter Homes Limited | 67,619 | 40,039 |
| PIP Property Management Limited | 7,688 | (308 | ) |
| PIP Construction (Midlands) Limited | - | - |
| Sanasoar Properties Limited | (37,793 | ) | (18,393 | ) |
| Debtors | 54,823 | 40,039 |
| Creditors | 39,393 | 18,701 |
| During the period the company paid dividends to its directors and shareholders as follows: |
| 2017 | 2016 |
| £ | £ |
| Mr A Soar | 5,000 | 7,995 |
| Mrs P Soar | 5,000 | 7,995 |
| 13. | ULTIMATE CONTROLLING PARTY |
| There is no controlling party as no shareholder owns more than 50% of the voting share capital of the company. |