Pendragon Residential Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07790104 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

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

C J Tough

K J Tough

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

Investments

5

100

100

Investment property

6

1,188,500

1,126,000

1,188,600

1,126,100

CURRENT ASSETS

Debtors

7

-

121

Cash at bank

2,508

3,413

2,508

3,534

CREDITORS

Amounts falling due within one year

8

(5,032

)

(4,869

)

NET CURRENT LIABILITIES

(2,524

)

(1,335

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,186,076

1,124,765

CREDITORS

Amounts falling due after more than one year

9

(1,064,336

)

(1,064,345

)

PROVISIONS FOR LIABILITIES

(23,275

)

(12,000

)

NET ASSETS

98,465

48,420

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

11

99,225

48,000

Retained earnings

11

(860

)

320

SHAREHOLDERS' FUNDS

98,465

48,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 11 May 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis, despite the net current liability position of £2,524

(2017:£1,335) as the company's directors have confirmed that they will continue to provide financial support to

the company to enable it to meet its liabilities as they fall due for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents rents receivable by the company.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are initially measured at cost and subsequently measured at fair value whilst a reliable

measure of fair value is available without undue cost or effort. Changes in fair value are 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 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 3 (2017 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 April 2017

and 31 March 2018

100

Net book value

At 31 March 2018

100

At 31 March 2017

100

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2017

1,126,000

Revaluations

62,500

At 31 March 2018

1,188,500

Net book value

At 31 March 2018

1,188,500

At 31 March 2017

1,126,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Other debtors

-

121

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Taxation and social security

6

-

Other creditors

5,026

4,869

5,032

4,869

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/18

31/3/17

£

£

Bank loans

495,711

495,713

Other creditors

568,625

568,632

1,064,336

1,064,345

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/18

31/3/17

£

£

Bank loans

495,711

495,713

The bank loans are secured by a charge over the investment properties of the company

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2017

320

48,000

48,320

Profit for the year

50,045

50,045

Transfer of fair value

(51,225

)

51,225

-

At 31 March 2018

(860

)

99,225

98,365

Reserves of the company represent the following:

Retained earnings:

Cumulative profit and loss net of distributions to owners.

Fair value reserve:

Cumulative revaluation gains on the company's investment properties.