Company Registration No. 10842904 (England and Wales)
Property Target Ltd
Unaudited accounts
for the year ended 30 June 2023
Property Target Ltd
Unaudited accounts
Contents
Property Target Ltd
Company Information
for the year ended 30 June 2023
Directors
A Travis
I Travis
Company Number
10842904 (England and Wales)
Registered Office
8 Holborn Close
St. Albans
Hertfordshire
AL4 9YG
England
Accountants
O'Meara Fitzmaurice & Co
Brimstage Hall
Brimstage Road
Wirral
CH63 6JA
Property Target Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
1,974,954
1,924,954
Cash at bank and in hand
83,305
7,593
Creditors: amounts falling due within one year
(642,271)
(592,137)
Net current liabilities
(558,966)
(584,544)
Total assets less current liabilities
1,416,381
1,340,410
Creditors: amounts falling due after more than one year
(1,452,551)
(1,424,307)
Net liabilities
(36,170)
(83,897)
Called up share capital
2
2
Revaluation reserve
278,590
228,590
Profit and loss account
(314,762)
(312,489)
Shareholders' funds
(36,170)
(83,897)
For the year ending 30 June 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 12 October 2023 and were signed on its behalf by
A Travis
Director
Company Registration No. 10842904
Property Target Ltd
Notes to the Accounts
for the year ended 30 June 2023
Property Target Ltd is a private company, limited by shares, registered in England and Wales, registration number 10842904. The registered office is 8 Holborn Close, St. Albans, Hertfordshire, AL4 9YG, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% on reducing balance
Computer equipment
15% on reducing balance
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At 1 July 2022
1,923,755
1,200
1,500
1,926,455
Revaluations
50,000
-
-
50,000
At 30 June 2023
1,973,755
1,200
1,500
1,976,455
At 1 July 2022
-
667
834
1,501
At 30 June 2023
-
667
834
1,501
At 30 June 2023
1,973,755
533
666
1,974,954
At 30 June 2022
1,923,755
533
666
1,924,954
5
Investments
Other investments
Valuation at 1 July 2022
-
Valuation at 30 June 2023
393
Property Target Ltd
Notes to the Accounts
for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
642,271
592,137
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,452,551
1,424,307
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).