Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30truefalse1true12022-05-01The princpal activity of Prop Partner Ltd is that of mangement of real estate on a fee or contract basis.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13311753 2022-05-01 2023-04-30 13311753 2021-04-03 2022-04-30 13311753 2023-04-30 13311753 2022-04-30 13311753 c:Director1 2022-05-01 2023-04-30 13311753 d:CurrentFinancialInstruments 2023-04-30 13311753 d:CurrentFinancialInstruments 2022-04-30 13311753 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13311753 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 13311753 d:ShareCapital 2023-04-30 13311753 d:ShareCapital 2022-04-30 13311753 d:RetainedEarningsAccumulatedLosses 2023-04-30 13311753 d:RetainedEarningsAccumulatedLosses 2022-04-30 13311753 c:OrdinaryShareClass1 2022-05-01 2023-04-30 13311753 c:OrdinaryShareClass1 2023-04-30 13311753 c:OrdinaryShareClass1 2022-04-30 13311753 c:FRS102 2022-05-01 2023-04-30 13311753 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 13311753 c:FullAccounts 2022-05-01 2023-04-30 13311753 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13311753









PROP PARTNER LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
PROP PARTNER LTD
REGISTERED NUMBER: 13311753

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
736
12,168

Cash at bank and in hand
  
7,818
872

  
8,554
13,040

Creditors: amounts falling due within one year
 5 
(7,805)
(5,153)

Net current assets
  
 
 
749
 
 
7,887

Total assets less current liabilities
  
749
7,887

  

Net assets
  
749
7,887


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
748
7,886

  
749
7,887


Page 1

 
PROP PARTNER LTD
REGISTERED NUMBER: 13311753
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 October 2023.




O B St John
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PROP PARTNER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

The principal activity of Prop Partner Ltd is that of management of real estate on a fee or contract basis.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of the approval of these financial statements, and will be able to meet its debts as they fall due.
The directors have reviewed forecasts and budgets and are confident of the Company's ability to continue trading as a going concern for the foreseeable future. The Company keeps it management accounts under constant review to ensure that no further action or changes are required to the business in order for it to continue as a going concern. Based on the results to date and future projections, the directors are confident that the Company will continue to meet its liabilities as they due. As a result, the directors have prepared the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PROP PARTNER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and loans to related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.



 
Page 4

 
PROP PARTNER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Trade debtors
-
12,168

Other debtors
736
-


Page 5

 
PROP PARTNER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
1,395

Other taxation and social security
-
1,686

Other creditors
7,305
1,572

Accruals and deferred income
500
500

7,805
5,153



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary Share Capital share of £1.00
1
1


 
Page 6