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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
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
28,887 
34,982 
Current assets
Debtors
16,810 
11,515 
Cash at bank and in hand
192,860 
318,011 
209,670 
329,526 
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
Deferred tax
- 
(6,647)
Net assets
9,093 
8,048 
Capital and reserves
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
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The Property Chaps Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
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.
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.
Turnover
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
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 taxation
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.
Pension costs
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
- 3 -
The Property Chaps Limited Notes to the Accounts for the year ended 30 September 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2022
35,575 
Additions
1,154 
At 30 September 2023
36,729 
Depreciation
At 1 October 2022
593 
Charge for the year
7,249 
At 30 September 2023
7,842 
Net book value
At 30 September 2023
28,887 
At 30 September 2022
34,982 
The property revaluation was undertaken by the Directors.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
259 
5,987 
Trade debtors
4,560 
4,560 
Deferred tax asset
10,938 
Accrued income and prepayments
1,053 
968 
16,810 
11,515 
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 
Accruals
815 
700 
229,464 
349,813 
- 4 -
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)
- 
(10,938)
6,647 
2023 
2022 
£ 
£ 
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 
9
Share capital
2023 
2022 
£ 
£ 
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).
- 5 -