Registered number
11218525
PEOPLE'S CHOICE PROPERTIES LTD
Filleted Accounts
28 February 2023
PEOPLE'S CHOICE PROPERTIES LTD
Registered number: 11218525
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 445,671 445,671
Current assets
Cash at bank and in hand 39,118 28,365
Creditors: amounts falling due within one year 4 (11,863) (3,396)
Net current assets 27,255 24,969
Total assets less current liabilities 472,926 470,640
Creditors: amounts falling due after more than one year 5 (434,707) (443,408)
Net assets 38,219 27,232
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,119 27,132
Shareholder's funds 38,219 27,232
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ali DEMIR
Director
Approved by the board on 20 October 2023
PEOPLE'S CHOICE PROPERTIES LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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 property management.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is not provided on land and buildings.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 445,671
At 28 February 2023 445,671
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 445,671
At 28 February 2022 445,671
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 6,389 -
Trade creditors 914 602
Taxation and social security costs 4,560 2,794
11,863 3,396
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 329,368 341,488
Other creditors 105,339 101,920
434,707 443,408
6 Other information
PEOPLE'S CHOICE PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
17 Lancing Gardens
London
N9 9ET
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