Company registration number 12886081 (England and Wales)
PROPERTY NRG LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
PROPERTY NRG LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PROPERTY NRG LIMITED (REGISTERED NUMBER: 12886081)
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
330,000
300,000
Current assets
Debtors
4
45,001
6,075
Cash at bank and in hand
906
36,546
45,907
42,621
Creditors: amounts falling due within one year
5
(13,289)
(12,032)
Net current assets
32,618
30,589
Total assets less current liabilities
362,618
330,589
Creditors: amounts falling due after more than one year
6
(190,845)
(190,516)
Provisions for liabilities
(32,367)
(26,667)
Net assets
139,406
113,406
Capital and reserves
Called up share capital
7
1
1
Non-distributable profits reserve
8
137,984
113,684
Distributable profit and loss reserves
1,421
(279)
Total equity
139,406
113,406

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

PROPERTY NRG LIMITED (REGISTERED NUMBER: 12886081)
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 26 January 2024
Mr J Crichlow
Director
PROPERTY NRG LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

Property NRG Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.5
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
PROPERTY NRG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
3
Investment property
2023
£
Fair value
At 1 August 2022
300,000
Revaluations
30,000
At 31 July 2023
330,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
45,001
6,075
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
419
-
0
Taxation and social security
685
-
0
Other creditors
12,185
12,032
13,289
12,032
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
190,845
190,516
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
PROPERTY NRG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
8
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
113,684
-
Non distributable profits in the year
24,300
113,684
At the end of the year
137,984
113,684
9
Financial commitments, guarantees and contingent liabilities

The company gives the bank a fixed and floating charge over it's assets and undertaking owned now and in the future.

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