Registered number
10376005
PROPVEST 1 LTD
Filleted Accounts
30 September 2023
PROPVEST 1 LTD
Registered number: 10376005
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 730,502 730,502
Current assets
Debtors 4 1,360 1,360
Cash at bank and in hand - -
1,360 1,360
Creditors: amounts falling due within one year 5 (298,708) (297,267)
Net current liabilities (297,348) (295,907)
Total assets less current liabilities 433,154 434,595
Creditors: amounts falling due after more than one year 6 (50,094) (48,873)
Net assets 383,060 385,722
Capital and reserves
Share premium 400,000 400,000
Profit and loss account (16,940) (14,278)
Shareholders' funds 383,060 385,722
The director is 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 director acknowledges his 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.
R. DIXIT
Director
Approved by the board on 17 September 2024
PROPVEST 1 LTD
Notes to the Accounts
for the year ended 30 September 2023
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, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 October 2022 730,502
At 30 September 2023 730,502
4 Debtors 2023 2022
£ £
Other debtors 1,360 1,360
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 954 954
Other creditors 297,754 296,313
298,708 297,267
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 50,094 48,873
The Bank Loan is Bounce Back Loan repayable over six years,with 2.5% interest rate.
7 Other information
PROPVEST 1 LTD is a private company limited by shares and incorporated in England. Its registered office is:
First Floor The Urban Building, Albert Street
Slough
England
SL1 2BE
PROPVEST 1 LTD 10376005 false 2022-10-01 2023-09-30 2023-09-30 VT Final Accounts April 2024 R. DIXIT No description of principal activity 10376005 2021-10-01 2022-09-30 10376005 core:WithinOneYear 2022-09-30 10376005 core:AfterOneYear 2022-09-30 10376005 core:SharePremium 2022-09-30 10376005 core:RetainedEarningsAccumulatedLosses 2022-09-30 10376005 2022-10-01 2023-09-30 10376005 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 10376005 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 10376005 bus:Director40 2022-10-01 2023-09-30 10376005 1 2022-10-01 2023-09-30 10376005 2 2022-10-01 2023-09-30 10376005 countries:England 2022-10-01 2023-09-30 10376005 bus:FRS102 2022-10-01 2023-09-30 10376005 bus:FilletedAccounts 2022-10-01 2023-09-30 10376005 2023-09-30 10376005 core:WithinOneYear 2023-09-30 10376005 core:AfterOneYear 2023-09-30 10376005 core:SharePremium 2023-09-30 10376005 core:RetainedEarningsAccumulatedLosses 2023-09-30 10376005 2022-09-30 iso4217:GBP xbrli:pure