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Company registration number: 05023837
Property Force (UK) Limited
Unaudited filleted financial statements
31 January 2023
Property Force (UK) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Property Force (UK) Limited
Directors and other information
Directors Mrs Rani Mehan
Company number 05023837
Registered office 151 London Road
Boston
Lincolnshire
PE21 7HG
Accountants Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
Property Force (UK) Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Property Force (UK) Limited
Year ended 31 January 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 January 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
22 September 2023
Property Force (UK) Limited
Statement of financial position
31 January 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 522 129,806
_______ _______
522 129,806
Current assets
Debtors 5 55,468 45,302
Cash at bank and in hand 944 386
_______ _______
56,412 45,688
Creditors: amounts falling due
within one year 6 ( 11,467) ( 3,890)
_______ _______
Net current assets 44,945 41,798
_______ _______
Total assets less current liabilities 45,467 171,604
_______ _______
Net assets 45,467 171,604
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 45,367 171,504
_______ _______
Shareholders funds 45,467 171,604
_______ _______
For the year ending 31 January 2023 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 Section 1A of 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 September 2023 , and are signed on behalf of the board by:
Mrs Rani Mehan
Director
Company registration number: 05023837
Property Force (UK) Limited
Statement of changes in equity
Year ended 31 January 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2021 100 529,962 530,062
Profit for the year 7,542 7,542
_______ _______ _______
Total comprehensive income for the year - 7,542 7,542
Dividends paid and payable ( 366,000) ( 366,000)
_______ _______ _______
Total investments by and distributions to owners - ( 366,000) ( 366,000)
_______ _______ _______
At 31 January 2022 and 1 February 2022 100 171,504 171,604
Profit for the year 12,863 12,863
_______ _______ _______
Total comprehensive income for the year - 12,863 12,863
Dividends paid and payable ( 139,000) ( 139,000)
_______ _______ _______
Total investments by and distributions to owners - ( 139,000) ( 139,000)
_______ _______ _______
At 31 January 2023 100 45,367 45,467
_______ _______ _______
Property Force (UK) Limited
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 151 London Road, Boston, Lincolnshire, PE21 7HG.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings - 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. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 February 2022 129,226 3,536 132,762
Disposals ( 129,226) - ( 129,226)
_______ _______ _______
At 31 January 2023 - 3,536 3,536
_______ _______ _______
Depreciation
At 1 February 2022 - 2,956 2,956
Charge for the year - 58 58
_______ _______ _______
At 31 January 2023 - 3,014 3,014
_______ _______ _______
Carrying amount
At 31 January 2023 - 522 522
_______ _______ _______
At 31 January 2022 129,226 580 129,806
_______ _______ _______
5. Debtors
2023 2022
£ £
Trade debtors 10,000 -
Other debtors 45,468 45,302
_______ _______
55,468 45,302
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,856 -
Corporation tax 389 1,785
Social security and other taxes - 94
Other creditors 9,222 2,011
_______ _______
11,467 3,890
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mrs Rani Mehan - ( 8,262) ( 8,262)
_______ _______ _______
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mrs Rani Mehan - - -
_______ _______ _______