REGISTERED NUMBER: |
Propertyline Lettings Ltd |
Unaudited Financial Statements |
for the Year Ended 31 December 2022 |
REGISTERED NUMBER: |
Propertyline Lettings Ltd |
Unaudited Financial Statements |
for the Year Ended 31 December 2022 |
Propertyline Lettings Ltd (Registered number: 06057189) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 8 |
Propertyline Lettings Ltd |
Company Information |
for the Year Ended 31 December 2022 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Propertyline Lettings Ltd |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Propertyline Lettings Ltd for the year ended 31 December 2022 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Propertyline Lettings Ltd in accordance with the terms of our engagement letter dated 23 December 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Propertyline Lettings Ltd and state those matters that we have agreed to state to the director of Propertyline Lettings Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Propertyline Lettings Ltd and its director for our work or for this report. |
It is your duty to ensure that Propertyline Lettings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Propertyline Lettings Ltd. You consider that Propertyline Lettings Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Propertyline Lettings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Propertyline Lettings Ltd (Registered number: 06057189) |
Statement of Financial Position |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
Tangible assets | 6 |
Current assets |
Debtors | 7 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Capital redemption reserve |
Retained earnings |
Shareholders' funds |
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. |
Propertyline Lettings Ltd (Registered number: 06057189) |
Statement of Financial Position - continued |
31 December 2022 |
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 |
Propertyline Lettings Ltd (Registered number: 06057189) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | Statutory information |
Propertyline Lettings Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Government grants |
Government grants are recognised using the accrual model. |
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Propertyline Lettings Ltd (Registered number: 06057189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
3. | Accounting policies - continued |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
4. | Employees and directors |
The average number of employees during the year was |
Propertyline Lettings Ltd (Registered number: 06057189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 January 2022 |
and 31 December 2022 |
Amortisation |
At 1 January 2022 |
and 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
6. | Tangible fixed assets |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 January 2022 |
Additions |
At 31 December 2022 |
Depreciation |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
7. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Other debtors |
Directors' loan accounts | - | 36,868 |
Deferred tax asset |
Propertyline Lettings Ltd (Registered number: 06057189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
8. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Pension creditor |
VAT |
Other creditors |
Net wages |
Directors' loan accounts |
Accrued expenses |
Other creditors includes deposit payable upon request amounting to £78,552 (2021 - £74,238) which are held in a deposit protection scheme. |
9. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Hire purchase contracts |
10. | Secured debts |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Hire purchase contracts | 55,767 | 68,281 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary Shares A | £1 | 100 | 100 |
12. | Director's advances, credits and guarantees |
Included in other creditors at 31st December 2022 is an amount of £2,493 (2021- £36,868 included in other debtors) owed to the directors to the company in respect of their current account. |
Interest was charged on any overdrawn loan balances at a rate of 2.00%. |