1st Call Property Ltd 13957166 false 2022-03-05 2023-03-31 2023-03-31 The principal activity of the company is that of residents property management. Digita Accounts Production Advanced 6.30.9574.0 true 13957166 2022-03-05 2023-03-31 13957166 2023-03-31 13957166 bus:Director1 1 2023-03-31 13957166 bus:OrdinaryShareClass1 2023-03-31 13957166 core:CurrentFinancialInstruments 2023-03-31 13957166 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13957166 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13957166 bus:SmallEntities 2022-03-05 2023-03-31 13957166 bus:AuditExemptWithAccountantsReport 2022-03-05 2023-03-31 13957166 bus:AbridgedAccounts 2022-03-05 2023-03-31 13957166 bus:SmallCompaniesRegimeForAccounts 2022-03-05 2023-03-31 13957166 bus:RegisteredOffice 2022-03-05 2023-03-31 13957166 bus:Director1 2022-03-05 2023-03-31 13957166 bus:Director1 1 2022-03-05 2023-03-31 13957166 bus:OrdinaryShareClass1 2022-03-05 2023-03-31 13957166 bus:PrivateLimitedCompanyLtd 2022-03-05 2023-03-31 13957166 core:MotorVehicles 2022-03-05 2023-03-31 13957166 countries:AllCountries 2022-03-05 2023-03-31 13957166 bus:Director1 1 2022-03-04 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13957166

1st Call Property Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 5 March 2022 to 31 March 2023

 

1st Call Property Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

1st Call Property Ltd

(Registration number: 13957166)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

11,500

Current assets

 

Debtors

5,769

Cash at bank and in hand

 

1,934

 

7,703

Creditors: Amounts falling due within one year

(7,812)

Net current liabilities

 

(109)

Total assets less current liabilities

 

11,391

Creditors: Amounts falling due after more than one year

(8,599)

Provisions for liabilities

(2,185)

Accruals and deferred income

 

(600)

Net assets

 

7

Capital and reserves

 

Called up share capital

5

1

Retained earnings

6

Shareholders' funds

 

7

 

1st Call Property Ltd

(Registration number: 13957166)
Abridged Balance Sheet as at 31 March 2023

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 17 August 2023
 

.........................................
Mr G D Shanks
Director

 

1st Call Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 5 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
75 The Spinney
Burnley
Lancashire
BB12 0PB

These financial statements were authorised for issue by the director on 17 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

1st Call Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 5 March 2022 to 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

1st Call Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 5 March 2022 to 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

1st Call Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 5 March 2022 to 31 March 2023

4

Tangible assets

Total
£

Cost

Additions

15,333

At 31 March 2023

15,333

Depreciation

Charge for the period

3,833

At 31 March 2023

3,833

Net book value

At 31 March 2023

11,500

5

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

1

1

     

6

Related party transactions

Transactions with the director

2023

At 5 March 2022
£

Advances to director
£

At 31 March 2023
£

Mr G D Shanks

-

4,115

4,115