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Company registration number: 4646212
4 YOU PROPERTY PARTNERS LTD
Unaudited filleted financial statements
31 July 2023
4 YOU PROPERTY PARTNERS LTD
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
4 YOU PROPERTY PARTNERS LTD
Directors and other information
Director Mr C Howard
Secretary Southern Accounting Services Limited
Company number 4646212
Registered office Holly Cottage
Ockham Lane
Ockham
Surrey
GU23 6NP
Business address Holly Cottage
Ockham Lane
Ockham,
GU23 6NP
4 YOU PROPERTY PARTNERS LTD
Statement of financial position
31 July 2023
2023 2022
Note £ £ £ £
Current assets
Stocks 20,888 20,888
Debtors 5 - 1,021
Cash at bank and in hand 15,381 1,754
_________ _________
36,269 23,663
Creditors: amounts falling due
within one year 6 ( 986,260) ( 1,040,064)
_________ _________
Net current liabilities ( 949,991) ( 1,016,401)
_________ _________
Total assets less current liabilities ( 949,991) ( 1,016,401)
_________ _________
Net liabilities ( 949,991) ( 1,016,401)
_________ _________
Capital and reserves
Called up share capital 1,430,434 1,430,434
Share premium account 51,211 51,211
Revaluation reserve 2,000 2,000
Profit and loss account ( 2,433,636) ( 2,500,046)
_________ _________
Shareholders deficit ( 949,991) ( 1,016,401)
_________ _________
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 April 2024 , and are signed on behalf of the board by:
Mr C Howard
Director
Company registration number: 4646212
4 YOU PROPERTY PARTNERS LTD
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Holly Cottage, Ockham Lane, Ockham, Surrey, GU23 6NP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Despite the continued losses over the years the accounts have been prepared on a going concern basis. The director believes that there are unrealised profits in the assets that have been acquired by the group over the years and that these profits will be enhanced with receiving of planning consents on some sites or just the improvement of the world economies.The group has made continuing losses and relies upon existing and future investors to support the continuing projects of the group and to enable it meet its day to day working capital requirements. Whilst the finalisation of projects has been delayed as a result of the current economic climate, the director believes that the projects will be completed profitably in due course, at which point, and not before, the investors are able to seek repayment of their funds. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include the adjustments that would result if the group were unable to continue as a going concern.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Due to the difficulty in assessing their probability of realisation the tax asset has not been recognised in these accounts. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 1 ).
5. Debtors
2023 2022
£ £
Other debtors - 1,021
_________ _________
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 15,000 15,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 900,511 923,989
Other creditors 70,749 101,075
_________ _________
986,260 1,040,064
_________ _________
All creditors are repayable upon demand.
7. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr C Howard ( 34,525) - 29,078 ( 5,447)
_________ _________ _________ _________
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr C Howard ( 33,983) ( 542) - ( 34,525)
_________ _________ _________ _________
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2023 2022 2023 2022
£ £ £ £
Loan from 4 Cavtat LLP - - ( 756,364) ( 756,364)
Loan from 4 Romania Land LLP - - ( 144,146) ( 167,624)
Powerwiize UK Ltd - - ( 7,639) ( 6,207)
_________ _________ _________ _________
All the above loans are interest free, repayable on demand and in the normal course of business. 4: You Property Partners Ltd initiated the activities of the above Limited Liability Partnerships. Mr C Howard is a director of a company that is a member in those LLPs and consults with other members on strategic and management decisions. Mr C Howard is a director and shareholder in Powerwize UK Ltd and 4 Property Partners Ltd.All the above loans are repayable on demand.