Registered number
12488200
Propeti Ltd
Filleted Accounts
29 February 2024
Propeti Ltd
Registered number: 12488200
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 357,308 358,544
Current assets
Debtors 4 2 2
Cash at bank and in hand 647 37
649 39
Creditors: amounts falling due within one year 5 (98,499) (105,262)
Net current liabilities (97,850) (105,223)
Total assets less current liabilities 259,458 253,321
Creditors: amounts falling due after more than one year 6 (243,750) (243,750)
Net assets 15,708 9,571
Capital and reserves
Called up share capital 2 2
Profit and loss account 15,706 9,569
Shareholders' funds 15,708 9,571
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Pennington
Director
Approved by the board on 11 July 2024
Propeti Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
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
Turnover is measured at the fair value of the consideration received or receivable as rental income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Plant and machinery 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 357,308 3,709 361,017
At 29 February 2024 357,308 3,709 361,017
Depreciation
At 1 March 2023 - 2,473 2,473
Charge for the year 1,236 - 1,236
At 29 February 2024 1,236 2,473 3,709
Net book value
At 29 February 2024 356,072 1,236 357,308
At 28 February 2023 357,308 1,236 358,544
4 Debtors 2024 2023
£ £
Other debtors 2 2
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,730 1,477
Other creditors 96,769 103,785
98,499 105,262
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 243,750 243,750
7 Other information
Propeti Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
Propeti Ltd 12488200 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts April 2024 A Pennington No description of principal activity 12488200 2022-03-01 2023-02-28 12488200 core:WithinOneYear 2023-02-28 12488200 core:AfterOneYear 2023-02-28 12488200 core:ShareCapital 2023-02-28 12488200 core:RetainedEarningsAccumulatedLosses 2023-02-28 12488200 2023-03-01 2024-02-29 12488200 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12488200 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12488200 bus:Director40 2023-03-01 2024-02-29 12488200 core:LandBuildings 2023-03-01 2024-02-29 12488200 core:PlantMachinery 2023-03-01 2024-02-29 12488200 countries:England 2023-03-01 2024-02-29 12488200 bus:FRS102 2023-03-01 2024-02-29 12488200 bus:FilletedAccounts 2023-03-01 2024-02-29 12488200 2024-02-29 12488200 core:WithinOneYear 2024-02-29 12488200 core:AfterOneYear 2024-02-29 12488200 core:ShareCapital 2024-02-29 12488200 core:RetainedEarningsAccumulatedLosses 2024-02-29 12488200 core:LandBuildings 2024-02-29 12488200 core:PlantMachinery 2024-02-29 12488200 2023-02-28 12488200 core:LandBuildings 2023-02-28 12488200 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure