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REGISTERED NUMBER: 09152793 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

68 Property Management Limited

68 Property Management Limited (Registered number: 09152793)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


68 Property Management Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A E Frost
E J Frost





REGISTERED OFFICE: 33 Short Walk
Butley
Woodbridge
Suffolk
IP12 3NU





REGISTERED NUMBER: 09152793 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

68 Property Management Limited (Registered number: 09152793)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 180,181 180,181

CURRENT ASSETS
Debtors 1,143 3,846
Cash at bank 780 156
1,923 4,002
CREDITORS
Amounts falling due within one year 82,849 88,915
NET CURRENT LIABILITIES (80,926 ) (84,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,255

95,268

CREDITORS
Amounts falling due after more than one
year

5

(56,833

)

(57,446

)

PROVISIONS FOR LIABILITIES (2,850 ) (2,850 )
NET ASSETS 39,572 34,972

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 39,569 34,969
SHAREHOLDERS' FUNDS 39,572 34,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

68 Property Management Limited (Registered number: 09152793)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





E J Frost - Director


68 Property Management Limited (Registered number: 09152793)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

68 Property Management Limited 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 as modified by the revaluation of certain assets.

Turnover
The turnover represents net invoiced sales of services, excluding value added tax, arising from rental income.

Investment property
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.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 180,181
NET BOOK VALUE
At 31 December 2023 180,181
At 31 December 2022 180,181

68 Property Management Limited (Registered number: 09152793)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 15,000
Cost 165,181
180,181

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 165,181 165,181

Investment property was valued on an open market value basis on 31 December 2023 by the directors. .

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.12.23 31.12.22
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 55,996 55,996

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
E J Frost
Balance outstanding at start of year 45,947 92,574
Amounts advanced 20,254 26,767
Amounts repaid (35,562 ) (73,394 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,639 45,947

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed related parties £50,000 (2022: £40,000). The amounts are interest free and repayable on demand.

8. ULTIMATE CONTROLLING PARTY

The controlling party is E J Frost.