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Registration number: 11077587

Propertuity Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Propertuity Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Propertuity Investments Ltd

Company Information

Director

Ms Andrea Juliet Spragg

Registered office

2621 Davenport House
261 Bolton Road
Bury
Greater Manchester
BL8 2NZ

Accountants

Property Tax Advice Ltd
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Propertuity Investments Ltd

(Registration number: 11077587)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

684

1,051

Investment property

6

282,000

260,000

 

282,684

261,051

Current assets

 

Debtors

7

557

772

Cash at bank and in hand

 

12,053

31,118

 

12,610

31,890

Creditors: Amounts falling due within one year

8

(15)

(8,252)

Net current assets

 

12,595

23,638

Total assets less current liabilities

 

295,279

284,689

Creditors: Amounts falling due after more than one year

8

(239,874)

(249,655)

Provisions for liabilities

(14,999)

(10,819)

Net assets

 

40,406

24,215

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

63,945

46,125

Retained earnings

(23,540)

(21,911)

Shareholders' funds

 

40,406

24,215

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 September 2023
 

 

Propertuity Investments Ltd

(Registration number: 11077587)
Balance Sheet as at 31 January 2023 (continued)

.........................................
Ms Andrea Juliet Spragg
Director

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2621 Davenport House
261 Bolton Road
Bury
Greater Manchester
BL8 2NZ

These financial statements were authorised for issue by the director on 29 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Plant & Machinery

25% Straight Line

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

366

366

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

1,465

1,465

At 31 January 2023

1,465

1,465

Depreciation

At 1 February 2022

414

414

Charge for the year

367

367

At 31 January 2023

781

781

Carrying amount

At 31 January 2023

684

684

At 31 January 2022

1,051

1,051

6

Investment properties

2023
£

At 1 February

260,000

Fair value adjustments

22,000

At 31 January

282,000

Fair value based on a valuation by an independent valuer.

7

Debtors

Current

2023
£

2022
£

Prepayments

556

771

Other debtors

1

1

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

-

8,000

Other creditors

15

252

15

8,252

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

239,874

249,655

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

17,820

17,820

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

53,180

53,180

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

142,347

162,800

Other borrowings

97,527

86,855

239,874

249,655

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

10

Loans and borrowings (continued)