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REGISTERED NUMBER: 09565836 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE PROPERTY GROUP LIMITED

THE PROPERTY GROUP LIMITED (REGISTERED NUMBER: 09565836)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE PROPERTY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr J Chimonas
Mr C A K Chimonas





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 09565836 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

THE PROPERTY GROUP LIMITED (REGISTERED NUMBER: 09565836)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 891,161 866,670

CURRENT ASSETS
Debtors 5 409,950 406,248
Cash at bank 17,254 9,328
427,204 415,576
CREDITORS
Amounts falling due within one year 6 804,553 800,136
NET CURRENT LIABILITIES (377,349 ) (384,560 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

513,812

482,110

CREDITORS
Amounts falling due after more than one
year

7

(112,238

)

(117,317

)

PROVISIONS FOR LIABILITIES 8 (6,359 ) (4,926 )
NET ASSETS 395,215 359,867

CAPITAL AND RESERVES
Called up share capital 9 90 90
Fair value reserve 75,839 77,272
Retained earnings 319,286 282,505
SHAREHOLDERS' FUNDS 395,215 359,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

THE PROPERTY GROUP LIMITED (REGISTERED NUMBER: 09565836)

BALANCE SHEET - continued
30 APRIL 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 23 August 2024 and were signed on its behalf by:





Mr J Chimonas - Director


THE PROPERTY GROUP LIMITED (REGISTERED NUMBER: 09565836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

The Property Group 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
Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts and other sales taxes.

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 1 (2023 - 1 ) .

THE PROPERTY GROUP LIMITED (REGISTERED NUMBER: 09565836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 866,670
Additions 24,491
At 30 April 2024 891,161
NET BOOK VALUE
At 30 April 2024 891,161
At 30 April 2023 866,670

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2018 82,198
Cost 808,963
891,161

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 3,573 -
Other debtors 400,000 400,000
Prepayments & accrued income 6,377 6,248
409,950 406,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 14,993 13,830
Trade creditors 31,133 16,419
Tax 8,581 12,864
Deposits held 3,500 3,500
Shareholders loan 734,172 749,172
Deferred interest 2,667 2,667
Accrued expenses 9,507 1,684
804,553 800,136

THE PROPERTY GROUP LIMITED (REGISTERED NUMBER: 09565836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 2-5 years 44,979 41,490
Bank loans more 5 yr by instal 67,259 75,827
112,238 117,317

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 67,259 75,827

8. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 6,359 4,926

Deferred
tax
£   
Balance at 1 May 2023 4,926
Provided during year 1,433
Balance at 30 April 2024 6,359

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
90 Ordinary Share Capital 1 90 90