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Company Registration No. 11209163 (England and Wales)
Property Group SW Limited Unaudited accounts for the year ended 28 February 2023
Property Group SW Limited Unaudited accounts Contents
Page
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Property Group SW Limited Company Information for the year ended 28 February 2023
Directors
Mr P J Mackie Mr C Preston
Company Number
11209163 (England and Wales)
Registered Office
Brunel Court 122 Fore St Saltash Cornwall PL12 6JW England
Accountants
Blackwell Bate Ltd Brunel Court 122 Fore Street Saltash Cornwall PL12 6JW
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Property Group SW Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,225,707 
1,115,444 
Current assets
Debtors
15,668 
6,382 
Cash at bank and in hand
2,285 
222,360 
17,953 
228,742 
Creditors: amounts falling due within one year
(334,513)
(346,614)
Net current liabilities
(316,560)
(117,872)
Total assets less current liabilities
909,147 
997,572 
Creditors: amounts falling due after more than one year
(791,085)
(790,962)
Net assets
118,062 
206,610 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
322,410 
322,410 
Profit and loss account
(204,448)
(115,900)
Shareholders' funds
118,062 
206,610 
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2023 and were signed on its behalf by
Mr C Preston Director Company Registration No. 11209163
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Property Group SW Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Property Group SW Limited is a private company, limited by shares, registered in England and Wales, registration number 11209163. The registered office is Brunel Court, 122 Fore St, Saltash, Cornwall, PL12 6JW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land & buildings
Not depreciated
Fixtures & fittings
25% reducing balance
Computer equipment
33.33% straight line
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Property Group SW Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
1,095,690 
37,352 
350 
1,133,392 
Additions
114,762 
513 
- 
115,275 
At 28 February 2023
1,210,452 
37,865 
350 
1,248,667 
Depreciation
At 1 March 2022
- 
17,598 
350 
17,948 
Charge for the year
- 
5,012 
- 
5,012 
At 28 February 2023
- 
22,610 
350 
22,960 
Net book value
At 28 February 2023
1,210,452 
15,255 
- 
1,225,707 
At 28 February 2022
1,095,690 
19,754 
- 
1,115,444 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
3,348 
Other debtors
15,668 
3,034 
15,668 
6,382 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
4,184 
174 
Other creditors
330,329 
346,440 
334,513 
346,614 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
791,085 
790,962 
8
Transactions with related parties
At the year ended 28 February 2023, the company owed Mr C Preston, a director of the company £104,495. (2022: £103,194) At the year ended 28 February 2023 the company owed Mr P Mackie, a director of the company £220,281. (2022: the company owed £212,269)
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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