Company Registration No. 12661906 (England and Wales)
The Property Pair Ltd
Unaudited accounts
for the year ended 31 May 2023
The Property Pair Ltd
Unaudited accounts
Contents
The Property Pair Ltd
Company Information
for the year ended 31 May 2023
Directors
Eamonn Richardson
Kegan Richardson
Company Number
12661906 (England and Wales)
Registered Office
The Farmhouse Royd Moor Lane
Badsworth
Pontefract
West Yorkshire
WF9 1AZ
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
The Property Pair Ltd
Accountants' report
Accountants' report to the board of directors of The Property Pair Ltd on the preparation of the unaudited statutory accounts for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
The Property Pair Ltd for the year ended
31 May 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Property Pair Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of The Property Pair Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Property Pair Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Property Pair Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Property Pair Ltd. You consider that The Property Pair 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 accounts of The Property Pair 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 accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
10 November 2023
The Property Pair Ltd
Statement of financial position
as at 31 May 2023
Investment property
1,155,564
630,000
Cash at bank and in hand
31,955
94,480
Creditors: amounts falling due within one year
(431,908)
(303,298)
Net current liabilities
(395,243)
(206,817)
Total assets less current liabilities
760,321
423,183
Creditors: amounts falling due after more than one year
(615,763)
(295,850)
Net assets
144,558
127,333
Called up share capital
10
10
Revaluation reserve
235,708
159,893
Profit and loss account
(91,160)
(32,570)
Shareholders' funds
144,558
127,333
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
Kegan Richardson
Director
Company Registration No. 12661906
The Property Pair Ltd
Notes to the Accounts
for the year ended 31 May 2023
The Property Pair Ltd is a private company, limited by shares, registered in England and Wales, registration number 12661906. The registered office is The Farmhouse Royd Moor Lane, Badsworth, Pontefract, West Yorkshire, WF9 1AZ, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 June 2022
630,000
Net gain from fair value adjustments
75,815
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
70,500
-
Other creditors
245,239
177,656
Loans from directors
115,738
125,081
The Property Pair Ltd
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
615,763
295,850
Aggregate of amounts that fall due for payment after five years
615,763
295,850
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).