Penybont Real Estate Company Limited 31/03/2018 iXBRL

Penybont Real Estate Company Limited 31/03/2018 iXBRL

PENYBONT REAL ESTATE COMPANY LIMITED - Company Information

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Company registration number: 00777147
Penybont Real Estate Company Limited
Unaudited filleted financial statements
31 March 2018
Penybont Real Estate Company Limited
Contents
Balance sheet
Notes to the financial statements
Penybont Real Estate Company Limited
Balance sheet
31 March 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 6,174,767 5,940,767
Investments 6 548 548
_______ _______
6,175,315 5,941,315
Current assets
Stocks 2,262 2,262
Debtors 7 15,621 24,236
Cash at bank and in hand 106,644 90,630
_______ _______
124,527 117,128
Creditors: amounts falling due
within one year 8 ( 168,034) ( 266,748)
_______ _______
Net current liabilities ( 43,507) ( 149,620)
_______ _______
Total assets less current liabilities 6,131,808 5,791,695
Creditors: amounts falling due
after more than one year 9 ( 52,724) ( 61,459)
Provisions for liabilities ( 378,440) ( 339,108)
_______ _______
Net assets 5,700,644 5,391,128
_______ _______
Capital and reserves
Called up share capital 140 140
Revaluation reserve 2,890,459 2,719,291
Profit and loss account 2,810,045 2,671,697
_______ _______
Shareholders funds 5,700,644 5,391,128
_______ _______
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 December 2018 , and are signed on behalf of the board by:
D.D. Morgan
Director
Company registration number: 00777147
Penybont Real Estate Company Limited
Notes to the financial statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).
5. Tangible assets
Freehold property Short leasehold property Fixtures, fittings and equipment Total
£ £ £ £
Cost or valuation
At 1 April 2017 5,940,500 267 2,550 5,943,317
Additions 23,500 - - 23,500
Revaluation 210,500 - - 210,500
_______ _______ _______ _______
At 31 March 2018 6,174,500 267 2,550 6,177,317
_______ _______ _______ _______
Depreciation
At 1 April 2017 and 31 March 2018 - - 2,550 2,550
_______ _______ _______ _______
Carrying amount
At 31 March 2018 6,174,500 267 - 6,174,767
_______ _______ _______ _______
At 31 March 2017 5,940,500 267 - 5,940,767
_______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2017 and 31 March 2018 548 548
_______ _______
Impairment
At 1 April 2017 and 31 March 2018 - -
_______ _______
Carrying amount
At 31 March 2018 548 548
_______ _______
At 31 March 2017 548 548
_______ _______
7. Debtors
2018 2017
£ £
Trade debtors 2,607 8,713
Other debtors 13,014 15,523
_______ _______
15,621 24,236
_______ _______
8. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts 8,418 69,618
Amounts owed to group undertakings and undertakings in which the company has a participating interest 11,210 11,210
Corporation tax 32,471 43,608
Other creditors 115,935 142,312
_______ _______
168,034 266,748
_______ _______
The bank borrowings are secured on the assets of the company.
9. Creditors: amounts falling due after more than one year
2018 2017
£ £
Bank loans and overdrafts 52,724 61,459
_______ _______
The bank borrowings are secured on the assets of the company.