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Unaudited Financial Statements |
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For The Year Ended 30th September 2017 |
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P.E. 3 Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 30th September 2017 |
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for |
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P.E. 3 Limited |
P.E. 3 Limited (Registered number: 04070474) |
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Contents of the Financial Statements |
For The Year Ended 30th September 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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P.E. 3 Limited |
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Company Information |
For The Year Ended 30th September 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Ground Floor |
31 Kentish Town Road |
London |
NW1 8NL |
P.E. 3 Limited (Registered number: 04070474) |
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Balance Sheet |
30th September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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P.E. 3 Limited (Registered number: 04070474) |
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Balance Sheet - continued |
30th September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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P.E. 3 Limited (Registered number: 04070474) |
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Notes to the Financial Statements |
For The Year Ended 30th September 2017 |
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1. | STATUTORY INFORMATION |
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P.E. 3 Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents gross rents receivable from the company's freehold investment properties |
for the year. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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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. |
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Financial instruments |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised |
cost using the effective interest method, less impairment losses for bad and doubtful debts |
except where the effect of discounting would be immaterial. In such cases, the receivables are |
stated at cost less impairment losses for bad and doubtful debts. |
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Trade debtors are assessed for impairment at the end of each reporting period and amounts |
impaired are deducted and charged to the Profit and Loss Account. |
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Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at |
amortised costs using the effective interest method unless the effect of discounting would be |
immaterial in which case they are stated at cost. |
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P.E. 3 Limited (Registered number: 04070474) |
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Notes to the Financial Statements - continued |
For The Year Ended 30th September 2017 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st October 2016 |
and 30th September 2017 |
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DEPRECIATION |
At 1st October 2016 |
and 30th September 2017 |
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NET BOOK VALUE |
At 30th September 2017 |
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P.E. 3 Limited (Registered number: 04070474) |
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Notes to the Financial Statements - continued |
For The Year Ended 30th September 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st October 2016 |
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Disposals | ( |
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At 30th September 2017 |
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NET BOOK VALUE |
At 30th September 2017 |
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At 30th September 2016 |
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Fair value at 30th September 2017 is represented by: |
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£ |
Valuation in 2013 | 740,000 |
Valuation in 2014 | 55,000 |
Valuation in 2016 | (90,000 | ) |
Valuation in 2016 | 25,000 |
Valuation in 2017 | (120,000 | ) |
610,000 |
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If investment properties had not been revalued they would have been included at the |
following historical cost: |
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30.9.17 | 30.9.16 |
£ | £ |
Cost | 423,740 | 423,740 |
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Investment properties were valued on an open market basis on 30th September 2017 by the directors of the company |
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The investment properties are subject to a legal charge registered with Companies House. |
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6. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Other debtors |
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P.E. 3 Limited (Registered number: 04070474) |
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Notes to the Financial Statements - continued |
For The Year Ended 30th September 2017 |
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7. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Trade creditors |
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Other creditors |
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8. | RELATED PARTY DISCLOSURES |
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At 30th September 2017 the amount owed to the director Mrs L J Shaw by the company was |
£123,238 (2016: £173,238).This loan is repayable on demand. |
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At 30th September 2017 the amount owed to the shareholder Mr S Adams by the company |
was £128,441 (2016: £178,411).This loan is repayable on demand. |
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Both loans are reflected in Other creditors. |
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9. | ULTIMATE CONTROLLING PARTY |
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During the current and previous periods, the company was controlled by the directors, who |
between them owned 50% of the shares and by Mr S Adams, who owned the other 50% of the |
shares. |