Company Registration No. 10001752 (England and Wales)
PROSKILL PROPERTY LIMITED
Unaudited accounts
for the year ended 31 March 2024
PROSKILL PROPERTY LIMITED
Unaudited accounts
Contents
PROSKILL PROPERTY LIMITED
Company Information
for the year ended 31 March 2024
Directors
Julie Denise Walker
Stephen Walker
Company Number
10001752 (England and Wales)
Registered Office
International House
61 Mosley Street
Manchester
M2 3HZ
England
Accountants
TGKS Accountancy Limited
44 Potternewton Mount
Leeds
West Yorkshire
LS7 2DR
PROSKILL PROPERTY LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
3,251
5,911
Investment property
1,240,000
1,210,000
Cash at bank and in hand
7,027
8,579
Creditors: amounts falling due within one year
(289,838)
(263,246)
Net current liabilities
(279,311)
(251,167)
Total assets less current liabilities
963,940
964,744
Creditors: amounts falling due after more than one year
(674,213)
(674,213)
Provisions for liabilities
Deferred tax
(72,914)
(67,214)
Net assets
216,813
223,317
Called up share capital
2
2
Profit and loss account
216,811
223,315
Shareholders' funds
216,813
223,317
For the year ending 31 March 2024 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 29 July 2024 and were signed on its behalf by
Stephen Walker
Director
Company Registration No. 10001752
PROSKILL PROPERTY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
PROSKILL PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10001752. The registered office is International House, 61 Mosley Street, Manchester, M2 3HZ, 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:
Fixtures & fittings
15% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
PROSKILL PROPERTY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2023
1,210,000
Net gain from fair value adjustments
30,000
At 31 March 2024
1,240,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the year end.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
10,338
Amounts owed to group undertakings and other participating interests
206,621
183,665
Other creditors
3,499
3,499
Loans from directors
78,531
64,557
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
674,213
674,213
Aggregate of amounts that fall due for payment after five years
674,213
674,213
Bank loans are secured by way of a fixed first charge over the investment porperty portfolio
PROSKILL PROPERTY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
9
Transactions with related parties
At the balance sheet date there is an amount due to Proskill Consultancy Limited £206,620 (2023 £187,655) a company in which Mr S Walker and Mrs J Walker are directors and shareholders. No interest was charged on the loan during the year
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).