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REGISTERED NUMBER: 10795227 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

PROPERTY STILES LTD

PROPERTY STILES LTD (REGISTERED NUMBER: 10795227)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

PROPERTY STILES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr J Stiles





REGISTERED OFFICE: West Coach House
Hatchetts Drive
Woolmer Hill
Haslemere
Surrey
GU27 1LX





REGISTERED NUMBER: 10795227 (England and Wales)





ACCOUNTANTS: LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG

PROPERTY STILES LTD (REGISTERED NUMBER: 10795227)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 295,811 297,909

CURRENT ASSETS
Debtors 5 29,590 29,590
Cash at bank 24,278 24,062
53,868 53,652
CREDITORS
Amounts falling due within one year 6 5,552 3,035
NET CURRENT ASSETS 48,316 50,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,127

348,526

CREDITORS
Amounts falling due after more than one
year

7

350,758

359,158
NET LIABILITIES (6,631 ) (10,632 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (6,731 ) (10,732 )
SHAREHOLDERS' FUNDS (6,631 ) (10,632 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 STILES LTD (REGISTERED NUMBER: 10795227)

BALANCE SHEET - continued
31 MAY 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 29 August 2024 and were signed by:





Mr J Stiles - Director


PROPERTY STILES LTD (REGISTERED NUMBER: 10795227)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Property Stiles 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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 2% straight line

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 STILES LTD (REGISTERED NUMBER: 10795227)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 205,584 104,915 310,499
DEPRECIATION
At 1 June 2023 - 12,590 12,590
Charge for year - 2,098 2,098
At 31 May 2024 - 14,688 14,688
NET BOOK VALUE
At 31 May 2024 205,584 90,227 295,811
At 31 May 2023 205,584 92,325 297,909

The properties were valued on an open market basis on 31 May 2024 by the company director.

The valuation of the properties at the year end is based on recent sales data for similar properties in the residential area and is not carried out by an independent professionally qualified valuer.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 29,590 29,590

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 757 -
Other creditors 4,795 3,035
5,552 3,035

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 159,490 159,490
Other creditors 191,268 199,668
350,758 359,158

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 159,490 159,490

PROPERTY STILES LTD (REGISTERED NUMBER: 10795227)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Stiles.

9. GOING CONCERN

The accounts have been prepared on a going concern basis as in the opinion of the director the company will become profitable in future years. The director intends to support the company for the foreseeable future.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROPERTY STILES LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Property Stiles Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Property Stiles Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Property Stiles Ltd and state those matters that we have agreed to state to the director of Property Stiles Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Property Stiles Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Property Stiles Ltd. You consider that Property Stiles Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Property Stiles Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG


29 August 2024