Company Registration No. 9258204 (England and Wales)
The Property Chaps Limited
Unaudited accounts
for the year ended 30 September 2023
The Property Chaps Limited
Statement of financial position
as at 30 September 2023
Tangible assets
28,887
34,982
Cash at bank and in hand
192,860
318,011
Creditors: amounts falling due within one year
(229,464)
(349,813)
Net current liabilities
(19,794)
(20,287)
Total assets less current liabilities
9,093
14,695
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
8,993
7,948
Shareholders' funds
9,093
8,048
For the year ending 30 September 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 1 March 2024 and were signed on its behalf by
Mr C Hale
Director
Company Registration No. 9258204
The Property Chaps Limited
Notes to the Accounts
for the year ended 30 September 2023
The Property Chaps Limited is a private company, limited by shares, registered in England and Wales, registration number 9258204. The registered office is C/O National Business Register Group Ltd, 3 Sovereign Court, Graham Street, Birmingham, B1 3JR, 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.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years straight line
The Property Chaps Limited
Notes to the Accounts
for the year ended 30 September 2023
4
Tangible fixed assets
Plant & machinery
At 30 September 2023
36,729
At 30 September 2023
7,842
At 30 September 2023
28,887
At 30 September 2022
34,982
The property revaluation was undertaken by the Directors.
Amounts falling due within one year
Deferred tax asset
10,938
-
Accrued income and prepayments
1,053
968
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
108
-
Other creditors
54,418
53,421
Loans from directors
174,123
295,692
The Property Chaps Limited
Notes to the Accounts
for the year ended 30 September 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
5,506
6,647
Tax losses carried forward
(16,444)
-
Provision at start of year
6,647
31,140
Credited to the profit and loss account
(17,585)
(24,493)
Provision at end of year
(10,938)
6,647
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).