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REGISTERED NUMBER: 12302875 (England and Wales)















Property Solutions South West Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2023






Property Solutions South West Ltd (Registered number: 12302875)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Property Solutions South West Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: Mr N A Blakemore





REGISTERED OFFICE: Unit B2
Church View Business Park
Bickland Water Road
Falmouth
Cornwall
TR11 4FZ





REGISTERED NUMBER: 12302875 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR

Property Solutions South West Ltd (Registered number: 12302875)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 5,062 7,875

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 5 76,415 119,480
Cash at bank and in hand 820 1,169
78,435 121,849
CREDITORS
Amounts falling due within one year 6 38,653 42,461
NET CURRENT ASSETS 39,782 79,388
TOTAL ASSETS LESS CURRENT LIABILITIES 44,844 87,263

PROVISIONS FOR LIABILITIES 962 1,496
NET ASSETS 43,882 85,767

CAPITAL AND RESERVES
Called up share capital 180 180
Retained earnings 43,702 85,587
43,882 85,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Property Solutions South West Ltd (Registered number: 12302875)

Balance Sheet - continued
31 August 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





Mr N A Blakemore - Director


Property Solutions South West Ltd (Registered number: 12302875)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Property Solutions South West 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the risks and rewards have transferred to the buyer, which is when work has been carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
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 4 (2022 - 3 ) .

Property Solutions South West Ltd (Registered number: 12302875)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£
COST
At 1 September 2022 13,500
Disposals (1,500 )
At 31 August 2023 12,000
DEPRECIATION
At 1 September 2022 5,625
Charge for year 1,688
Eliminated on disposal (375 )
At 31 August 2023 6,938
NET BOOK VALUE
At 31 August 2023 5,062
At 31 August 2022 7,875

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 25,170 49,245
Other debtors 51,245 70,235
76,415 119,480

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 4,929 -
Trade creditors 12,493 16,752
Taxation and social security 17,531 23,774
Other creditors 3,700 1,935
38,653 42,461

Property Solutions South West Ltd (Registered number: 12302875)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£ £
Mr N A Blakemore
Balance outstanding at start of year 45,177 19,299
Amounts advanced 44,792 34,278
Amounts repaid (53,400 ) (8,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,569 45,177

The director's loan is repayable on demand. Interest has been charged at 2.25%.