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REGISTERED NUMBER: 12428456 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2023

for

Propertybid Ltd

Propertybid Ltd (Registered number: 12428456)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Propertybid Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: J Cole





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 12428456 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Propertybid Ltd (Registered number: 12428456)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,825 3,206
Tangible assets 5 1,274 133
4,099 3,339

CURRENT ASSETS
Debtors 6 9,458 28,500
Cash at bank 1,826 25,652
11,284 54,152
CREDITORS
Amounts falling due within one year 7 363,150 261,395
NET CURRENT LIABILITIES (351,866 ) (207,243 )
TOTAL ASSETS LESS CURRENT LIABILITIES (347,767 ) (203,904 )

PROVISIONS FOR LIABILITIES 779 634
NET LIABILITIES (348,546 ) (204,538 )

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 (349,546 ) (205,538 )
SHAREHOLDERS' FUNDS (348,546 ) (204,538 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:




J Cole - Director


Propertybid Ltd (Registered number: 12428456)

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

1. STATUTORY INFORMATION

Propertybid Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Propertybid Ltd (Registered number: 12428456)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2022
and 31 January 2023 3,805
AMORTISATION
At 1 February 2022 599
Amortisation for year 381
At 31 January 2023 980
NET BOOK VALUE
At 31 January 2023 2,825
At 31 January 2022 3,206

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2022 200
Additions 1,297
At 31 January 2023 1,497
DEPRECIATION
At 1 February 2022 67
Charge for year 156
At 31 January 2023 223
NET BOOK VALUE
At 31 January 2023 1,274
At 31 January 2022 133

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 9,458 28,168
Amounts owed by group undertakings - 132
Other debtors - 200
9,458 28,500

Propertybid Ltd (Registered number: 12428456)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Social security and other taxes 67,224 43,027
VAT 4,999 1,336
Other creditors 1,058 1,276
Directors' current accounts 288,879 214,856
Accruals and deferred income 990 900
363,150 261,395

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
1,000,000 Ordinary A 0.01p 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 February 2022 (205,538 )
Deficit for the year (144,008 )
At 31 January 2023 (349,546 )

10. GOING CONCERN

The company has a deficit on the balance sheet. The directors have indicated their support and are confident that the company will trade out of its current difficulties. Therefore, the financial statements have been prepared on a going concern basis.