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Company Registration No. 11656048 (England and Wales)
Property Sounds Important Limited Unaudited accounts for the year ended 31 March 2023
Property Sounds Important Limited Unaudited accounts Contents
Page
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Property Sounds Important Limited Company Information for the year ended 31 March 2023
Director
David Richard Bennett
Company Number
11656048 (England and Wales)
Registered Office
32 St John Avenue Warrington WA4 6DG England
Accountants
Carter Clear Accounting Ltd 4 Hampson Avenue Culcheth Warrington Cheshire WA3 5RY
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Property Sounds Important Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
406,306 
406,366 
Current assets
Debtors
3,263 
- 
Cash at bank and in hand
12,127 
7,176 
15,390 
7,176 
Creditors: amounts falling due within one year
(3,741)
(5,614)
Net current assets
11,649 
1,562 
Total assets less current liabilities
417,955 
407,928 
Creditors: amounts falling due after more than one year
(375,847)
(376,729)
Provisions for liabilities
Deferred tax
(8,550)
(8,550)
Net assets
33,558 
22,649 
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
45,000 
45,000 
Profit and loss account
(11,443)
(22,352)
Shareholders' funds
33,558 
22,649 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 November 2023 and were signed on its behalf by
David Richard Bennett Director Company Registration No. 11656048
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Property Sounds Important Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Property Sounds Important Limited is a private company, limited by shares, registered in England and Wales, registration number 11656048. The registered office is 32 St John Avenue, Warrington, WA4 6DG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0%
Plant & machinery
20% Reducing Balance Basis
Computer equipment
20% Reducing Balance Basis
Deferred taxation
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
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Property Sounds Important Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
406,187 
298 
406,485 
At 31 March 2023
406,187 
298 
406,485 
Depreciation
At 1 April 2022
- 
119 
119 
Charge for the year
- 
60 
60 
At 31 March 2023
- 
179 
179 
Net book value
At 31 March 2023
406,187 
119 
406,306 
At 31 March 2022
406,187 
179 
406,366 
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The methods and significant assumptions used to ascertain the fair value of £406,187 and fair value movement of £45,000 included in the profit / loss for the year / period are as follows: Revalution of Property by Gateway Surveyors FRICS on 04/10/2021 using the comparable method.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
3,263 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
13 
Taxes and social security
115 
- 
Other creditors
3,626 
- 
Accruals
- 
5,601 
3,741 
5,614 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
292,880 
292,880 
Loans from directors
82,967 
83,849 
375,847 
376,729 
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Property Sounds Important Limited Notes to the Accounts for the year ended 31 March 2023
9
Deferred taxation
2023 
2022 
£ 
£ 
Revaluation of land and buildings
8,550 
8,550 
2023 
2022 
£ 
£ 
Provision at start of year
8,550 
- 
Charged to the profit and loss account
- 
8,550 
Provision at end of year
8,550 
8,550 
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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