1 June 2022 false Taxfiler 2023.10 12661906business:PrivateLimitedCompanyLtd2022-06-012023-05-31 126619062022-05-31 126619062022-06-012023-05-31 12661906business:AuditExemptWithAccountantsReport2022-06-012023-05-31 12661906business:FilletedAccounts2022-06-012023-05-31 126619062023-05-31 12661906business:Director12022-06-012023-05-31 12661906business:Director22022-06-012023-05-31 12661906business:RegisteredOffice2022-06-012023-05-31 126619062022-05-31 12661906core:WithinOneYear2023-05-31 12661906core:WithinOneYear2022-05-31 12661906core:AfterOneYear2023-05-31 12661906core:AfterOneYear2022-05-31 12661906core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 12661906core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 12661906core:RevaluationReservecore:PreviouslyStatedAmount2023-05-31 12661906core:RevaluationReservecore:PreviouslyStatedAmount2022-05-31 12661906core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 12661906core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 12661906core:PreviouslyStatedAmount2023-05-31 12661906core:PreviouslyStatedAmount2022-05-31 12661906business:SmallEntities2022-06-012023-05-31 12661906countries:EnglandWales2022-06-012023-05-31 12661906core:MoreThanFiveYears2023-05-31 12661906core:MoreThanFiveYears2022-05-31 126619062021-06-012022-05-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
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
- 4 -
The Property Pair Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
1,155,564 
630,000 
Current assets
Debtors
4,710 
2,001 
Cash at bank and in hand
31,955 
94,480 
36,665 
96,481 
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 
Capital and reserves
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
- 5 -
The Property Pair Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
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.
Investment property
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.
4
Investment property
2023 
£ 
Fair value at 1 June 2022
630,000 
Additions
449,749 
Net gain from fair value adjustments
75,815 
At 31 May 2023
1,155,564 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
4,710 
2,001 
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 
Accruals
431 
561 
431,908 
303,298 
- 6 -
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).
- 7 -