2022-12-01 2023-11-30 false No description of principal activity Capium Accounts Production 1.1 09874028 bus:AbridgedAccounts 2022-12-01 2023-11-30 09874028 bus:FRS102 2022-12-01 2023-11-30 09874028 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 09874028 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 09874028 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09874028 2022-12-01 2023-11-30 09874028 2023-11-30 09874028 bus:RegisteredOffice 2022-12-01 2023-11-30 09874028 core:WithinOneYear 2023-11-30 09874028 core:AfterOneYear 2023-11-30 09874028 bus:Director1 2022-12-01 2023-11-30 09874028 bus:Director1 2023-11-30 09874028 bus:Director1 2021-12-01 2022-11-30 09874028 2021-12-01 09874028 bus:LeadAgentIfApplicable 2022-12-01 2023-11-30 09874028 2021-12-01 2022-11-30 09874028 2022-11-30 09874028 core:WithinOneYear 2022-11-30 09874028 core:AfterOneYear 2022-11-30 09874028 bus:EntityAccountantsOrAuditors 2021-12-01 2022-11-30 09874028 core:FurnitureFittings 2022-12-01 2023-11-30 09874028 core:FurnitureFittings 2023-11-30 09874028 core:FurnitureFittings 2022-11-30 09874028 core:InvestmentProperties 2022-12-01 2023-11-30 09874028 core:InvestmentProperties 2023-11-30 09874028 core:InvestmentProperties 2022-11-30 09874028 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-11-30 09874028 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-11-30 09874028 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 09874028 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 09874028 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-11-30 09874028 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-11-30 09874028 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-11-30 09874028 core:Non-currentFinancialInstruments 2023-11-30 09874028 core:Non-currentFinancialInstruments 2022-11-30 09874028 core:ShareCapital 2023-11-30 09874028 core:ShareCapital 2022-11-30 09874028 core:RetainedEarningsAccumulatedLosses 2023-11-30 09874028 core:RetainedEarningsAccumulatedLosses 2022-11-30 09874028 dpl:Item1 2022-12-01 09874028 dpl:Item1 2023-11-30 09874028 dpl:Item1 2021-12-01 09874028 dpl:Item1 2022-11-30 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 09874028
England and Wales

 

 

 

PRAE PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,525,503    3,526,221 
3,525,503    3,526,221 
Current assets      
Debtors 395,812    381,812 
Cash at bank and in hand 70,904    525,103 
466,716    906,915 
Creditors: amount falling due within one year (775,047)   (998,422)
Net current assets (308,331)   (91,507)
 
Total assets less current liabilities 3,217,172    3,434,714 
Creditors: amount falling due after more than one year (2,457,357)   (2,717,755)
Provisions for liabilities (141,828)   (141,828)
Net assets 617,987    575,131 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 617,887    575,031 
Shareholders' funds 617,987    575,131 
 


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 profit and loss account 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 31 August 2024 and were signed by:


-------------------------------
TOMORI Christiana
Director
1
General Information
PRAE PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09874028, registration address 27 OLD GLOUCESTER STREET, LONDON UNITED KINGDOM, WC1N 3AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Rental Income is recognised on an accrual basis. Rents receivable from tenants represents rents and service charges receivable in the period.
Where a rent-free period is included in a lease, the rental income foregone is allocated evenly over the period of lease commencement to the earliest termination date.

Rental income from fixed and minimum guaranteed rent reviews is recognised on a straight-line basis over the shorter of the entire lease term or the period to the first break option. Where such rental income is recognised ahead of the related cash flows, an adjustment is made to ensure the carrying value of the related property
including the accrued rent does not exceed the external valuation. Initial direct costs incurred in negotiating and arranging a new lease are amortised on a straight-line basis over the period from the date of lease commencement to the earliest termination date.


Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation
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.






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:
Plant & Machinery 25% and 15% SLM
Investment properties
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.


Investment properties are properties held to earn rental and /or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Plant and machinery etc   Total
  £   £   £
At 01 December 2022 3,524,065    2,876    3,526,941 
Additions    
Disposals    
At 30 November 2023 3,524,065    2,876    3,526,941 
Depreciation
At 01 December 2022   719    719 
Charge for year   719    719 
On disposals    
At 30 November 2023   1,438    1,438 
Net book values
Closing balance as at 30 November 2023 3,524,065    1,438    3,525,503 
Opening balance as at 01 December 2022 3,524,065    2,156    3,526,221 


2