3 LITTLE PIGS PROPERTY LTD

3 LITTLE PIGS PROPERTY LTD - Company Information

2021-12-012022-11-302022-11-30false116872073 LITTLE PIGS PROPERTY 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Registered Number
11687207
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2022

3 LITTLE PIGS PROPERTY LTD

Company Information
for the year from 1 December 2021 to 30 November 2022


Director	David Jason Riley


Registered Address	5 West Towers Mews
	Marple
	Stockport
	SK6 7GR


Registered Number	11687207 (England and Wales)

3 LITTLE PIGS PROPERTY LTD

Balance Sheet as at
30 November 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	8		187		328
Investment property	9		100,000		85,000
			100,187		85,328
Current assets
Debtors	10	-		1,583
Cash at bank and on hand		4,336		3,241
		4,336		4,824
Creditors amounts falling due within one year	11	(33,686)		(35,422)
Net current assets (liabilities)			(29,350)		(30,598)
Total assets less current liabilities			70,837		54,730
Creditors amounts falling due after one year	12		(50,295)		(50,288)
Provisions for liabilities	13		(3,466)		(616)
Net assets			17,076		3,826
Capital and reserves
Called up share capital			100		100
Profit and loss account			16,976		3,726
Shareholders' funds			17,076		3,826

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 8 August 2023, and are signed on its behalf by:

David Jason Riley
Director
Registered Company No. 11687207

3 LITTLE PIGS PROPERTY LTD

Notes to the Financial Statements
for the year ended 30 November 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	5.33

	Investment property policy
	Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in the fair value are recognised in profit or loss.

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Taxation policy
	Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Taxation policy

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

5.	Critical estimates and judgements
	In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Critical estimates and judgements

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

6.	Sources of estimation uncertainty
	The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

7.	Employee information


		2022		2021
	Average number of employees during the year	1		1

8.	Property, plant and equipment

	Office Equipment	Total
	£	£
Cost or valuation
At 01 December 21	749	749
At 30 November 22	749	749
Depreciation and impairment
At 01 December 21	421	421
Charge for year	141	141
At 30 November 22	562	562
Net book value
At 30 November 22	187	187
At 30 November 21	328	328

9.	Investment property


		£
	Fair value at 01 December 21	85,000
	Fair value adjustments	15,000
	At 30 November 22	100,000

10.	Debtors

	2022	2021
	£	£
Other debtors	-	1,583
Total	-	1,583


	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.

11.	Creditors within one year

	2022	2021
	£	£
Taxation and social security	116	208
Other creditors	33,570	35,214
Total	33,686	35,422


	Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

12.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	50,295	50,288
Total	50,295	50,288

13.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	3,466	616
Total	3,466	616