Company Registration No. 11645971 (England and Wales)
Property B Limited
Unaudited accounts
for the year ended 31 October 2023
Property B Limited
Unaudited accounts
Contents
Property B Limited
Company Information
for the year ended 31 October 2023
Directors
Mr Alexander Lower
Ms Lok Yiu Ngai
Company Number
11645971 (England and Wales)
Registered Office
27 OLD GLOUCESTER STREET
LONDON
WC1N 3AX
ENGLAND
Accountants
Accounting Wise Ltd
3 The Carriages
Station Road
Ware
Hertfordshire
SG129PL
Property B Limited
Statement of financial position
as at 31 October 2023
Tangible assets
2,495
5,629
Investment property
1,662,000
1,275,514
Cash at bank and in hand
9,469
90,063
Creditors: amounts falling due within one year
(591,375)
(664,558)
Net current liabilities
(579,332)
(570,671)
Total assets less current liabilities
1,085,163
710,472
Creditors: amounts falling due after more than one year
(955,763)
(643,361)
Provisions for liabilities
Deferred tax
(33,012)
(33,219)
Called up share capital
2
2
Fair value reserve
110,167
99,658
Profit and loss account
(13,781)
(65,768)
Shareholders' funds
96,388
33,892
For the year ending 31 October 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 24 July 2024 and were signed on its behalf by
Mr Alexander Lower
Director
Company Registration No. 11645971
Property B Limited
Notes to the Accounts
for the year ended 31 October 2023
Property B Limited is a private company, limited by shares, registered in England and Wales, registration number 11645971. The registered office is 27 OLD GLOUCESTER STREET, LONDON, WC1N 3AX, 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:
Land & buildings
No depreciation
Computer equipment
3 Years SLM
Property B Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Fair value at 1 November 2022
1,275,514
Net gain from fair value adjustments
10,301
At 31 October 2023
1,662,000
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
17,438
Trade creditors
2,203
2,203
Loans from directors
585,719
602,025
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
955,763
643,361
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).