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Registered Number: 10499167
England and Wales

 

 

 

PROPERTY SALES AND FUNDING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Thieme and Company
30 November 2023


Thieme and Company
18 Thorne Road
Doncaster
DN1 2HS
01 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,785    899 
3,785    899 
Current assets      
Debtors 120    120 
Cash at bank and in hand 212,597    141,167 
212,717    141,287 
Creditors: amount falling due within one year (41,396)   (23,391)
Net current assets 171,321    117,896 
 
Total assets less current liabilities 175,106    118,795 
Creditors: amount falling due after more than one year (89,655)   (107,532)
Net assets 85,451    11,263 
 

Capital and reserves
     
Called up share capital 4 120    120 
Profit and loss account 85,331    11,143 
Shareholders' funds 85,451    11,263 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 01 February 2024 and were signed by:


-------------------------------
Gail Arabskyj
Director
2
General Information
Property Sales and Funding Ltd is a private company, limited by shares, registered in England and Wales, registration number 10499167, registration address 18 Thorne Road, Doncaster, South Yorkshire, DN1 2HS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Fixtures and Fittings 25% Straight Line
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 December 2022 500    4,711    5,211 
Additions 3,448    819    4,267 
Disposals    
At 30 November 2023 3,948    5,530    9,478 
Depreciation
At 01 December 2022 500    3,812    4,312 
Charge for year 877    504    1,381 
On disposals    
At 30 November 2023 1,377    4,316    5,693 
Net book values
Closing balance as at 30 November 2023 2,571    1,214    3,785 
Opening balance as at 01 December 2022   899    899 


4.

Share Capital

Authorised
120 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
120 Class A shares of £1.00 each 120    120 
120    120 

3