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Registered Number: 09873891
England and Wales

 

 

 

PROPERTY BUSINESS DEVELOPMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 30 November 2021

End date: 30 November 2022
Director Caroline Jane Luker
Registered Number 09873891
Registered Office 4 RENNIE COURT
11 UPPER GROUND LONDON
SE1 9LP
Accountants Worth Knowing Accountants Ltd
S14, 22-25 Portman Close

London
W1H 6BS
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 November 2022
Principal activities
Principal activity of the company during the financial year was of buying and selling of own real estate.
Director
The director who served the company throughout the year was as follows:
Caroline Jane Luker
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Caroline Jane Luker
Director

Date approved: 28 November 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
30 November 2022



....................................................
Worth Knowing Accountants Ltd
S14, 22-25 Portman Close

London
W1H 6BS
28 November 2023
3
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 2,061,519    2,057,624 
2,061,519    2,057,624 
Current assets      
Debtors 4 6,533    4,048 
Cash at bank and in hand 84,448    140,672 
90,981    144,720 
Creditors: amount falling due within one year 5 (19,853)   (29,324)
Net current assets 71,128    115,396 
 
Total assets less current liabilities 2,132,647    2,173,020 
Creditors: amount falling due after more than one year 6 (2,233,101)   (2,250,476)
Net liabilities (100,454)   (77,456)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (100,455)   (77,457)
Shareholder's funds (100,454)   (77,456)
 


For the year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 November 2023 and were signed by:


-------------------------------
Caroline Jane Luker
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2020 1  (82,132) (82,131)
Profit for the year 4,675  4,675 
Total comprehensive income for the year 4,675  4,675 
Total investments by and distributions to owners
At 29 November 2021 1  (77,457) (77,456)
At 30 November 2021 1  (77,457) (77,456)
Profit for the year (22,998) (22,998)
Total comprehensive income for the year (22,998) (22,998)
Total investments by and distributions to owners
At 30 November 2022 1  (100,455) (100,454)
5
General Information
PROPERTY BUSINESS DEVELOPMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 09873891, registration address 4 RENNIE COURT, 11 UPPER GROUND LONDON, SE1 9LP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2021 : 1).
3.

Tangible fixed assets

Cost or valuation Freehold Property   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 30 November 2021 2,057,624        2,057,624 
Additions   466    4,727    5,193 
Disposals      
At 30 November 2022 2,057,624    466    4,727    2,062,817 
Depreciation
At 30 November 2021      
Charge for year   116    1,182    1,298 
On disposals      
At 30 November 2022   116    1,182    1,298 
Net book values
Closing balance as at 30 November 2022 2,057,624    350    3,545    2,061,519 
Opening balance as at 30 November 2021 2,057,624        2,057,624 


4.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 500    500 
Amount Owed by Participating Interests 2,200    2,200 
Prepayments & Accrued Income 3,833    738 
VAT   610 
6,533    4,048 

5.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 7,897    200 
Accrued Expenses 750    1,500 
Other Creditors - Passive Homes 9,820    27,624 
VAT 1,386   
19,853    29,324 

6.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Loan - Topaz Finance (Zephy) 677,382    677,381 
Loan - Vida Homeloans 608,810    608,810 
Other Creditors - Donal O'Dwyer 745,042    779,042 
Directors' Loan Accounts 201,867    185,243 
2,233,101    2,250,476 

6