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REGISTERED NUMBER: 03611608 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Property Tectonics Limited

Property Tectonics Limited (Registered number: 03611608)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Property Tectonics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms E M Brady
Mrs S A Crisp
Mr I K Haywood
Mr D J Mctear
Miss K J Young





SECRETARY: Miss K J Young





REGISTERED OFFICE: Suite 16, Lowry Mill
Lees Street
Swinton
Manchester
M27 6DB





REGISTERED NUMBER: 03611608 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Property Tectonics Limited (Registered number: 03611608)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
CURRENT ASSETS
Stocks - 145,717
Debtors 4 - 605,990
Cash at bank and in hand - 1,335,512
- 2,087,219
CREDITORS
Amounts falling due within one year 5 - (413,383 )
NET CURRENT ASSETS - 1,673,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

1,673,836

CREDITORS
Amounts falling due after more than one
year

6

-

(22,034

)

PROVISIONS FOR LIABILITIES 8 - (10,005 )
NET ASSETS - 1,641,797

CAPITAL AND RESERVES
Called up share capital 9 - 66,444
Retained earnings - 1,774,224
SHAREHOLDERS' FUNDS - 1,840,668

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Property Tectonics Limited (Registered number: 03611608)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





Ms E M Brady - Director

** STATEMENT OF FINANCIAL POSITION - LAST YEAR - DOES NOT BALANCE - PLEASE CHECK THAT ALL POSTINGS HAVE BEEN MADE TO ACCOUNTS USED ON LIMITED COMPANY REPORTS

Property Tectonics Limited (Registered number: 03611608)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Property Tectonics 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.

Preparation of consolidated financial statements
The financial statements contain information about Property Tectonics Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Work in progress
Work in progress is based on the amount of work completed but not invoiced at the year end. Valuation is based on full sales value.

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.


Property Tectonics Limited (Registered number: 03611608)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on product development has been capitalised in accordance with FRS 102.

The expenditure relates to the development and substantial improvement of software packages.

The development costs are amortised at an annual rate of 20% in order to write off this asset over its estimated useful life.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 23 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 462,889
Other debtors - 35,104
Prepayments - 107,997
- 605,990

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,170
Trade creditors - 83,420
Tax - 99,751
Social security and other taxes - 36,365
Pension liability - 3,446
VAT - 144,939
Accruals and deferred income - 35,292
- 413,383

Property Tectonics Limited (Registered number: 03611608)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 10,170
Bank loans - 2-5 years - 11,864
- 22,034

7. SECURED DEBTS

National Westminster Bank Plc, hold a mortgage debenture with the amount secured in relation to all liabilities of the Company present and future actual and/or contingent to National Westminster Bank Plc.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 10,005

Deferred
tax
£   
Balance at 1 April 2023 10,005
Accelerated capital allowances
Balance at 31 March 2024 10,005

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares 1 - 100
65,000 Preference shares 1 - 65,000
2,026 C shares 1 - 1,344
- 66,444

10. OTHER FINANCIAL COMMITMENTS

As at 31st March 2023, the company had financial commitments totalling £226,212 (2021: £221,436) in respect of operating leases.

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the Directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Property Tectonics Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Tectonics Limited for the year ended 31 March 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Property Tectonics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Property Tectonics Limited and state those matters that we have agreed to state to the Board of Directors of Property Tectonics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property Tectonics Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Property Tectonics Limited 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 Tectonics Limited. You consider that Property Tectonics Limited 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 Tectonics Limited. 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.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................