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REGISTERED NUMBER: 11742636 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SEVENTY FOUR PROPCO LIMITED

SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEVENTY FOUR PROPCO LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr P R M Williams
Mrs L J Williams





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 11742636 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 788 1,050
Tangible assets 5 860 1,737
Investments 6 580 380
2,228 3,167

CURRENT ASSETS
Debtors 7 4,571,641 7,358,800
Cash at bank and in hand 8,336 33,824
4,579,977 7,392,624
CREDITORS
Amounts falling due within one year 8 4,121,048 6,715,726
NET CURRENT ASSETS 458,929 676,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

461,157

680,065

PROVISIONS FOR LIABILITIES 163 330
NET ASSETS 460,994 679,735

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 460,894 679,635
SHAREHOLDERS' FUNDS 460,994 679,735

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.

SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





Mr P R M Williams - Director


SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Seventy Four Propco 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.

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

Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023
and 31 December 2023 1,313
AMORTISATION
At 1 January 2023 263
Amortisation for year 262
At 31 December 2023 525
NET BOOK VALUE
At 31 December 2023 788
At 31 December 2022 1,050

5. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2023 1 156 6,574 6,731
Additions - 189 - 189
At 31 December 2023 1 345 6,574 6,920
DEPRECIATION
At 1 January 2023 - 91 4,903 4,994
Charge for year - 115 951 1,066
At 31 December 2023 - 206 5,854 6,060
NET BOOK VALUE
At 31 December 2023 1 139 720 860
At 31 December 2022 1 65 1,671 1,737

SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 380
Additions 200
At 31 December 2023 580
NET BOOK VALUE
At 31 December 2023 580
At 31 December 2022 380

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 4,416,531 7,286,696
Other debtors 155,110 72,104
4,571,641 7,358,800

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,200 3,312
Amounts owed to group undertakings 811,571 -
Taxation and social security - 7,516
Other creditors 3,308,277 6,704,898
4,121,048 6,715,726

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st December 2023 there was an outstanding loan owing from the Directors to the company of £61,307.