Property Funding 2 Limited 13084484 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Property investment Digita Accounts Production Advanced 6.30.9574.0 true true 13084484 2023-01-01 2023-12-31 13084484 2023-12-31 13084484 bus:OrdinaryShareClass1 2023-12-31 13084484 bus:OrdinaryShareClass2 2023-12-31 13084484 bus:OrdinaryShareClass3 2023-12-31 13084484 bus:OrdinaryShareClass4 2023-12-31 13084484 bus:OrdinaryShareClass5 2023-12-31 13084484 core:RetainedEarningsAccumulatedLosses 2023-12-31 13084484 core:ShareCapital 2023-12-31 13084484 core:CurrentFinancialInstruments 2023-12-31 13084484 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13084484 bus:SmallEntities 2023-01-01 2023-12-31 13084484 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13084484 bus:FilletedAccounts 2023-01-01 2023-12-31 13084484 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13084484 bus:RegisteredOffice 2023-01-01 2023-12-31 13084484 bus:Director1 2023-01-01 2023-12-31 13084484 bus:Director2 2023-01-01 2023-12-31 13084484 bus:Director3 2023-01-01 2023-12-31 13084484 bus:Director4 2023-01-01 2023-12-31 13084484 bus:Director5 2023-01-01 2023-12-31 13084484 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13084484 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 13084484 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 13084484 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 13084484 bus:OrdinaryShareClass5 2023-01-01 2023-12-31 13084484 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13084484 countries:AllCountries 2023-01-01 2023-12-31 13084484 2022-01-01 2022-12-31 13084484 2022-12-31 13084484 bus:OrdinaryShareClass1 2022-12-31 13084484 bus:OrdinaryShareClass2 2022-12-31 13084484 bus:OrdinaryShareClass3 2022-12-31 13084484 bus:OrdinaryShareClass4 2022-12-31 13084484 bus:OrdinaryShareClass5 2022-12-31 13084484 core:RetainedEarningsAccumulatedLosses 2022-12-31 13084484 core:ShareCapital 2022-12-31 13084484 core:CurrentFinancialInstruments 2022-12-31 13084484 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13084484

Property Funding 2 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Property Funding 2 Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Property Funding 2 Limited

Company Information

Directors

Mr Michael Senior

Mr Steven Richard Charnock

Mr Nigel Carl Birkett

Mr Craig Mellor

Mr Michael Gillibrand

Registered office

C/o Bright Partnership
26 Edward Court
Altrincham
WA14 5GL

Accountants

Bright Partnership Limited
1 Park Street
Macclesfield
Cheshire
SK11 6SR

 

Property Funding 2 Limited

(Registration number: 13084484)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

3,444,332

2,310,005

Cash at bank and in hand

 

27,414

51,247

 

3,471,746

2,361,252

Creditors: Amounts falling due within one year

5

(3,472,182)

(2,361,247)

Net (liabilities)/assets

 

(436)

5

Capital and reserves

 

Called up share capital

6

5

5

Retained earnings

(441)

-

Shareholders' (deficit)/funds

 

(436)

5

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

.........................................
Mr Craig Mellor
Director

 

Property Funding 2 Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
C/o Bright Partnership
26 Edward Court
Altrincham
WA14 5GL

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Property Funding 2 Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Debtors

Current

2023
£

2022
£

Other debtors

3,444,332

2,310,005

 

3,444,332

2,310,005

 

Property Funding 2 Limited

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

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

29,595

930

Other creditors

3,442,587

2,360,317

3,472,182

2,361,247

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

Ordinary E of £1 each

1

1

1

1

Ordinary shares of £1 (2022 - £0) each

990

990

-

-

995

995

5

5