REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
PROPERTY SCENE LTD |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
PROPERTY SCENE LTD |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Contents of the Financial Statements |
for the year ended 31 October 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
PROPERTY SCENE LTD |
Company Information |
for the year ended 31 October 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Report of the Directors |
for the year ended 31 October 2023 |
The directors present their report with the financial statements of the company for the year ended 31 October 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Property Scene Ltd |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Property Scene Ltd for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Property Scene Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Property Scene Ltd and state those matters that we have agreed to state to the Board of Directors of Property Scene Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property Scene Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Property Scene Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Property Scene Ltd. You consider that Property Scene Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Property Scene Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Income Statement |
for the year ended 31 October 2023 |
Period |
14.9.21 |
Year Ended | to |
31.10.23 | 31.10.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
49,168 | (3,228 | ) |
Other operating income |
OPERATING PROFIT/(LOSS) and |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) | 4 |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Balance Sheet |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Statement of Changes in Equity |
for the year ended 31 October 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Changes in equity |
Issue of share capital | - |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 October 2022 | ( |
) | ( |
) |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 October 2023 |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Notes to the Financial Statements |
for the year ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Property Scene Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. 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. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Critical accounting estimates and uncertainties |
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements. |
Hire purchase and leasing agreements |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PROPERTY SCENE LTD (REGISTERED NUMBER: 13621128) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
4. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
Period |
14.9.21 |
Year Ended | to |
31.10.23 | 31.10.22 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit/(loss) |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 150 | 150 |