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Company Registration No. 12108426 (England and Wales)
Property Buzz Ltd Unaudited accounts for the year ended 31 July 2023
Property Buzz Ltd Unaudited accounts Contents
Page
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Property Buzz Ltd Company Information for the year ended 31 July 2023
Directors
Robert Wood Joseph Wood
Company Number
12108426 (England and Wales)
Registered Office
20-22 WENLOCK ROAD LONDON West Sussex N1 7GU ENGLAND
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Property Buzz Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
365,122 
120,000 
Current assets
Cash at bank and in hand
5,783 
94,008 
Creditors: amounts falling due within one year
(55,314)
(113,180)
Net current liabilities
(49,531)
(19,172)
Total assets less current liabilities
315,591 
100,828 
Creditors: amounts falling due after more than one year
(312,327)
(98,392)
Net assets
3,264 
2,436 
Capital and reserves
Called up share capital
(1)
(1)
Profit and loss account
3,265 
2,437 
Shareholders' funds
3,264 
2,436 
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. 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 23 April 2024 and were signed on its behalf by
Robert Wood Director Company Registration No. 12108426
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Property Buzz Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Property Buzz Ltd is a private company, limited by shares, registered in England and Wales, registration number 12108426. The registered office is 20-22 WENLOCK ROAD, LONDON, West Sussex, N1 7GU, 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
4
Investment property
2023 
£ 
Fair value at 1 August 2022
120,000 
Additions
245,122 
At 31 July 2023
365,122 
The investment property was valued by the Directors on 31 July 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
40,000 
Loans from directors
55,314 
73,180 
55,314 
113,180 
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Property Buzz Ltd Notes to the Accounts for the year ended 31 July 2023
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
266,071 
92,136 
Trade creditors
40,000 
- 
Taxes and social security
6,256 
6,256 
312,327 
98,392 
Aggregate of amounts that fall due for payment after five years
312,327 
98,392 
The loan is secured on investment property
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Robert Wood
Start up investment loan
(73,180)
17,866 
- 
(55,314)
(73,180)
17,866 
- 
(55,314)
£94,000 was invested into the Company to allow the purchase of the investment property.
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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