PROPERTY INFINITI LIMITED

Company Registration Number:
13867267 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 24 January 2022

End date: 31 March 2023

PROPERTY INFINITI LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

PROPERTY INFINITI LIMITED

Balance sheet

As at 31 March 2023


Notes

14 months to 31 March 2023


£
Fixed assets
Investments: 3 735,000
Total fixed assets: 735,000
Current assets
Debtors: 4 1,760
Cash at bank and in hand: 6,008
Total current assets: 7,768
Creditors: amounts falling due within one year: 5 (222,777)
Net current assets (liabilities): (215,009)
Total assets less current liabilities: 519,991
Creditors: amounts falling due after more than one year: 6 (530,245)
Total net assets (liabilities): (10,254)
Capital and reserves
Called up share capital: 1,000
Profit and loss account: (11,254)
Shareholders funds: (10,254)

The notes form part of these financial statements

PROPERTY INFINITI LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 October 2023
and signed on behalf of the board by:

Name: Mrs D Chitnis
Status: Director

The notes form part of these financial statements

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the fair value of rents received and receivable from the letting of property.

Valuation and information policy

Investment properties are included on the balance sheet at their fair value, and the aggregate surplus net of any deficits arising from the revaluation is recognised through the income statement as part of the profit or loss for the period.No depreciation is provided in respect of these properties. This accounting policy is not in accordance with the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The directors have departed from the strict requirements of the Act in order for the accounts to give a true and fair view.It is not possible to quantify the amount of depreciation which might otherwise have been provided.

Other accounting policies

Deferred tax is recognised on all timing differences that have originated but not reversed at the balance sheet date. Unrelieved losses and deficits arising on a revaluation are recognised as a deferred tax asset are recognised only to the extent that they will be recovered in the foreseeable future against other deferred tax liabilities.

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

14 months to 31 March 2023
Average number of employees during the period 0

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Fixed investments

Cost of additions to investment properties £746,678.Deficit arising on revaluation £11,678Balance at 31 March 2023 £735,000.

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

Other debtors £1,760.

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

Creditors within one year comprise Taxation £298 and other creditors £222,479.

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due after more than one year note

Bank loans - due otherwise by instalments after more than five years £530,245.The bank loans are for a term of 22 years on an interest-only basis and are secured by the investment properties shown in the balance sheet.

PROPERTY INFINITI LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Related party transactions

Name of the related party: The directors and majority shareholders
Relationship:
Directors and shareholders
Description of the Transaction: Loan to the company which is unsecured, interest free and repayable upon demand.
£
Balance at 31 March 2023 220,404