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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 |
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PERDEN LANDS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 |
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FOR |
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PERDEN LANDS LIMITED |
PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2021 |
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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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PERDEN LANDS LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 October 2021 |
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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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Chartered Accountants |
54 Sun Street |
Waltham Abbey |
Essex |
EN9 1EJ |
PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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BALANCE SHEET |
31 October 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share investment revaluation |
reserve - non distributable | 10 |
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Investment property revaluation reserve -
non distributable |
10 |
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Retained earnings | 10 |
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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. |
PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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BALANCE SHEET - continued |
31 October 2021 |
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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 and authorised for issue on
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PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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Perden Lands Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in sterling (£) which is also the functional currency for the company and rounded to the nearest £. |
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Turnover |
Turnover represents rent receivable from property investment and the sale of development properties which are recognised when unconditional exchange of contracts is obtained. |
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Tangible fixed assets and depreciation |
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Computer equipment | - |
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Fixed asset investments |
The company measures at fair value of its listed investments at the end of each accounting period reflecting any adjustment for fair value through the profit and loss account for the year. |
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Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
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The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows: |
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The investment properties are revalued annually to fair value by company directors with periodic external open market valuations. |
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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. |
PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and any short term deposits. |
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Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 November 2020 |
and 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
and 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1 November 2020 |
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Additions |
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Revaluations |
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Dividends received | 38,989 |
At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2021 |
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5. | FIXED ASSET INVESTMENTS - continued |
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Cost or valuation at 31 October 2021 is represented by: |
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Other |
investments |
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Valuation in 2017 | 44,148 |
Valuation in 2018 | (47,549 | ) |
Valuation in 2019 | 54,323 |
Valuation in 2020 | (71,683 | ) |
Valuation in 2021 | 324,757 |
Cost | 1,891,579 |
2,195,575 |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2020 |
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Disposals | ( |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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Fair value at 31 October 2021 is represented by: |
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Valuation in 2010 | (374,096 | ) |
Valuation in 2011 | (555,000 | ) |
Valuation in 2012 | (228,680 | ) |
Valuation in 2018 | 253,680 |
Cost | 2,404,096 |
1,500,000 |
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If the investment properties had not been revalued they would have been included at the following historical cost: |
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2021 | 2020 |
£ | £ |
Cost | 1,903,179 | 2,929,096 |
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The investment properties were valued on an open market basis on 31 October 2021 by the directors . |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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PERDEN LANDS LIMITED (REGISTERED NUMBER: 01080177) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2021 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Taxation and social security |
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Other creditors |
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9. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 63,078 | 58,317 |
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Deferred |
tax |
£ |
Balance at 1 November 2020 |
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Provided during year |
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Balance at 31 October 2021 |
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10. | RESERVES |
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Investment
Property revaluation reserve |
Share
Investment revaluation reserve |
Retained earnings |
Total |
£ | £ | £ | £ |
At 1 November 2020 | 205,480 | - | 2,908,503 | 3,113,983 |
Revaluation of share investments | - | 324,757 | (324,757 | ) | - |
Sale of property investments | 196,320 | - | (196,320 | ) | - |
Deferred tax on revaluation | 48,200 | (63,078 | ) | 14,878 | - |
Net result for the year | - | - | 412,269 | 412,269 |
At 31 October 2021 | 450,000 | 261,679 | 2,814,573 | 3,526,252 |
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £13,854 were paid to the directors . |