Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2022-07-072Property lettings0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14221382 2022-07-06 14221382 2022-07-07 2023-12-31 14221382 2021-07-07 2022-07-06 14221382 2023-12-31 14221382 c:Director2 2022-07-07 2023-12-31 14221382 d:Buildings 2022-07-07 2023-12-31 14221382 d:Buildings 2023-12-31 14221382 d:CurrentFinancialInstruments 2023-12-31 14221382 d:Non-currentFinancialInstruments 2023-12-31 14221382 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14221382 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 14221382 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 14221382 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 14221382 d:ShareCapital 2023-12-31 14221382 d:RetainedEarningsAccumulatedLosses 2023-12-31 14221382 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 14221382 c:OrdinaryShareClass1 2022-07-07 2023-12-31 14221382 c:OrdinaryShareClass1 2023-12-31 14221382 c:FRS102 2022-07-07 2023-12-31 14221382 c:AuditExempt-NoAccountantsReport 2022-07-07 2023-12-31 14221382 c:FullAccounts 2022-07-07 2023-12-31 14221382 c:PrivateLimitedCompanyLtd 2022-07-07 2023-12-31 14221382 e:PoundSterling 2022-07-07 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14221382









PRITCHETTS PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
PRITCHETTS PROPERTY LIMITED
REGISTERED NUMBER: 14221382

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
243,866

  
243,866

Current assets
  

Cash at bank and in hand
 5 
1,393

  
1,393

Creditors: amounts falling due within one year
 6 
(122,719)

Net current (liabilities)/assets
  
 
 
(121,326)

Total assets less current liabilities
  
122,540

Creditors: amounts falling due after more than one year
 7 
(119,834)

  

Net assets
  
2,706


Capital and reserves
  

Called up share capital 
 10 
100

Profit and loss account
  
2,606

  
2,706


Page 1

 
PRITCHETTS PROPERTY LIMITED
REGISTERED NUMBER: 14221382
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 April 2024.




................................................
Mark Aldridge
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PRITCHETTS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company throughout the period was that of property rentals. The Company was incorporated on 7th July 2022 and commenced trading on 21st October 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
PRITCHETTS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PRITCHETTS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
243,866



At 31 December 2023

243,866






Net book value



At 31 December 2023
243,866

Page 5

 
PRITCHETTS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
1,393

1,393



6.


Creditors: Amounts falling due within one year

2023
£

Bank loans
14,258

Amounts owed to related party
106,746

Corporation tax
635

Accruals and deferred income
1,080

122,719



7.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
119,834

119,834


Page 6

 
PRITCHETTS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Bank loans
14,258

Amounts falling due 1-2 years

Bank loans
14,257

Amounts falling due 2-5 years

Bank loans
105,577


134,092



9.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
1,393




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.

Page 7

 
PRITCHETTS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


Upon incorporation, 100 Ordinary £1 shares were issued at par.


11.


Related party transactions

Pritchetts Limited is a company in which the directors, Charles Aldridge and Mark Aldridge, are directors and shareholders. During the year transactions totalling £106,746 were made with this company. At the end of the year £106,746 was owed.


12.


Controlling party

There is no overall controlling party.

 
Page 8