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REGISTERED NUMBER: 13279250 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

PROCTER PROPERTY PORTFOLIO SERVICES LTD

PROCTER PROPERTY PORTFOLIO SERVICES LTD (REGISTERED NUMBER: 13279

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROCTER PROPERTY PORTFOLIO SERVICES LTD

Company Information
for the Year Ended 31 March 2024







Directors: W A Procter
T J Procter
N J Procter
A J Procter
R G Procter





Registered office: 3rd Floor Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN





Registered number: 13279250 (England and Wales)





Accountants: Haines Watts Manchester Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

PROCTER PROPERTY PORTFOLIO SERVICES LTD (REGISTERED NUMBER: 13279

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 5 1,950,000 1,550,000

Current assets
Debtors 6 1,000 1,000
Cash at bank 17,676 5,659
18,676 6,659
Creditors
Amounts falling due within one year 7 1,867,434 1,422,246
Net current liabilities (1,848,758 ) (1,415,587 )
Total assets less current liabilities 101,242 134,413

Provisions for liabilities 25,245 36,294
Net assets 75,997 98,119

Capital and reserves
Called up share capital 8 100 100
Fair value reserve 9 75,737 108,882
Retained earnings 160 (10,863 )
Shareholders' funds 75,997 98,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





A J Procter - Director


PROCTER PROPERTY PORTFOLIO SERVICES LTD (REGISTERED NUMBER: 13279

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Procter Property Portfolio Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
As at 31 March 2024 the company had net current liabilities. The company is dependent on the continued support of the directors who have confirmed their commitment to continue to provide the necessary support as long as the company needs it.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the directors and associated companies were not to provide further support.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. Employees and directors

The average number of employees during the year was 5 (2023 - 4 ) .

PROCTER PROPERTY PORTFOLIO SERVICES LTD (REGISTERED NUMBER: 13279

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. Investment property
Total
£   
Fair value
At 1 April 2023 1,550,000
Additions 444,194
Revaluations (44,194 )
At 31 March 2024 1,950,000
Net book value
At 31 March 2024 1,950,000
At 31 March 2023 1,550,000

The investment properties are shown at fair value. The properties were valued at the balance sheet date by the director.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 1,000 1,000

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Taxation and social security 2,931 -
Other creditors 1,864,503 1,422,246
1,867,434 1,422,246

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 A Ordinary £1 70 70
10 B Ordinary £1 10 10
10 D Ordinary £1 10 10
70 Ordinary £1 10 10
100 100

9. Reserves
Fair
value
reserve
£   
At 1 April 2023 108,882
Movement in the year (33,145 )

At 31 March 2024 75,737