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REGISTERED NUMBER: 13928678 (England and Wales)










Unaudited Financial Statements for the Year Ended 29 February 2024

for

Property No.22 Limited

Property No.22 Limited (Registered number: 13928678)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Property No.22 Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mrs C Mapp-Pope





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 13928678 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Property No.22 Limited (Registered number: 13928678)

Balance Sheet
29 February 2024

28.2.23 29.2.24
£    £    Notes £    £   
FIXED ASSETS
230,000 Investment property 4 230,000

CURRENT ASSETS
106 Debtors 5 204
1,486 Cash at bank 232
1,592 436
CREDITORS
65,792 Amounts falling due within one year 6 63,502
(64,200 ) NET CURRENT LIABILITIES (63,066 )
165,800 TOTAL ASSETS LESS CURRENT
LIABILITIES

166,934

CREDITORS
(151,606 ) Amounts falling due after more than one
year

7

(151,606

)

(2,871 ) PROVISIONS FOR LIABILITIES (2,871 )
11,323 NET ASSETS 12,457

CAPITAL AND RESERVES
100 Called up share capital 9 100
12,239 Fair value reserve 10 12,239
(1,016 ) Retained earnings 118
11,323 SHAREHOLDERS' FUNDS 12,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 No.22 Limited (Registered number: 13928678)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2024 and were signed by:





Mrs C Mapp-Pope - Director


Property No.22 Limited (Registered number: 13928678)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Property No.22 Limited 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. 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 as modified by the revaluation of certain assets.

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

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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Property No.22 Limited (Registered number: 13928678)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 230,000
NET BOOK VALUE
At 29 February 2024 230,000
At 28 February 2023 230,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2023 15,110
Cost 214,890
230,000

The director considers the investment property to be valued at its fair value at the balance sheet date, based on their local knowledge of property values.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 204 106

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 249 -
Other creditors 63,253 65,792
63,502 65,792

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 151,606 151,606

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 151,606 151,606

Property No.22 Limited (Registered number: 13928678)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 151,606 151,606

The debt is secured on the investment property.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 12,239