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REGISTERED NUMBER: 08055362 (England and Wales)

















Unaudited Financial Statements

for the Period 1 November 2022 to 31 December 2023

for

Purshouse Properties Limited

Purshouse Properties Limited (Registered number: 08055362)






Contents of the Financial Statements
for the Period 1 November 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Purshouse Properties Limited

Company Information
for the Period 1 November 2022 to 31 December 2023







DIRECTORS: Mr I G Purshouse
Mrs V A Purshouse
Mr C J Purshouse
Mr G D Purshouse





SECRETARY: Mr C J Purshouse





REGISTERED OFFICE: 24-26 Mansfield Road
Rotherham
South Yorkshire
S60 2DT





REGISTERED NUMBER: 08055362 (England and Wales)





ACCOUNTANTS: SMH Haywood & Co Limited
24-26 Mansfield Road
Rotherham
South Yorkshire
S60 2DT

Purshouse Properties Limited (Registered number: 08055362)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 2,880 3,624
Investment property 5 810,000 505,000
812,880 508,624

CURRENT ASSETS
Debtors 6 96,133 34,567
Cash at bank 62,078 97,894
158,211 132,461
CREDITORS
Amounts falling due within one year 7 (128,629 ) (83,493 )
NET CURRENT ASSETS 29,582 48,968
TOTAL ASSETS LESS CURRENT LIABILITIES 842,462 557,592

CREDITORS
Amounts falling due after more than one
year

8

(150,814

)

(153,065

)

PROVISIONS FOR LIABILITIES (48,500 ) (6,703 )
NET ASSETS 643,148 397,824

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Fair value reserve 11 144,444 26,791
Retained earnings 497,704 370,033
SHAREHOLDERS' FUNDS 643,148 397,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Purshouse Properties Limited (Registered number: 08055362)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:




Mr I G Purshouse - Director



Mr G D Purshouse - Director


Purshouse Properties Limited (Registered number: 08055362)

Notes to the Financial Statements
for the Period 1 November 2022 to 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents commission receivable on rental properties under the company's management, net of VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 4 ) .

Purshouse Properties Limited (Registered number: 08055362)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 December 2023 300,000
AMORTISATION
At 1 November 2022
and 31 December 2023 300,000
NET BOOK VALUE
At 31 December 2023 -
At 31 October 2022 -

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 11,129
Additions 699
Disposals (4,429 )
At 31 December 2023 7,399
DEPRECIATION
At 1 November 2022 7,505
Charge for period 1,128
Eliminated on disposal (4,114 )
At 31 December 2023 4,519
NET BOOK VALUE
At 31 December 2023 2,880
At 31 October 2022 3,624

Purshouse Properties Limited (Registered number: 08055362)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 505,000
Additions 145,580
Revaluations 159,420
At 31 December 2023 810,000
NET BOOK VALUE
At 31 December 2023 810,000
At 31 October 2022 505,000

The investment property is included at the directors estimate of fair value at the year end of £810,000 (2022 -£505,000).

The historical cost of the investment property is £617,735 (2022- £472,155).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,764 2,123
Other debtors 56,369 32,444
96,133 34,567

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 56,979 22,931
Taxation and social security 52,231 11,507
Other creditors 19,419 49,055
128,629 83,493

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 150,814 153,065

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 72,000 92,000

Purshouse Properties Limited (Registered number: 08055362)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 182,830 139,515

The loans are secured by a fixed charge on the investment properties to which the loan relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Fair
value
reserve
£   
At 1 November 2022 26,791
Other movements 117,653

At 31 December 2023 144,444

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.