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REGISTERED NUMBER: 02993840 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROPERTY MOVES LIMITED

PROPERTY MOVES LIMITED (REGISTERED NUMBER: 02993840)






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


PROPERTY MOVES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: W Knight
G Shipp





SECRETARY: Miss L Evans





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 02993840 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

PROPERTY MOVES LIMITED (REGISTERED NUMBER: 02993840)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 21,861 10,240
Investment property 4 800,000 499,307
821,861 509,547

CURRENT ASSETS
Stocks 5 - 1,600
Debtors 6 25,553 16,592
Cash at bank and in hand 1,346,826 1,369,032
1,372,379 1,387,224
CREDITORS
Amounts falling due within one year 7 1,386,358 1,374,491
NET CURRENT (LIABILITIES)/ASSETS (13,979 ) 12,733
TOTAL ASSETS LESS CURRENT
LIABILITIES

807,882

522,280

CREDITORS
Amounts falling due after more than one
year

8

(288,000

)

(288,000

)

PROVISIONS FOR LIABILITIES (40,135 ) (1,311 )
NET ASSETS 479,747 232,969

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 265,339 -
Retained earnings 214,308 232,869
SHAREHOLDERS' FUNDS 479,747 232,969

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.

PROPERTY MOVES LIMITED (REGISTERED NUMBER: 02993840)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





W Knight - Director


PROPERTY MOVES LIMITED (REGISTERED NUMBER: 02993840)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

PROPERTY MOVES LIMITED (REGISTERED NUMBER: 02993840)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 - 8,359 6,044 29,082 43,485
Additions 11,774 2,727 (1 ) 1,512 16,012
Disposals - (4,433 ) (1,546 ) (18,825 ) (24,804 )
At 31 December 2023 11,774 6,653 4,497 11,769 34,693
DEPRECIATION
At 1 January 2023 - 6,333 2,928 23,984 33,245
Charge for year 608 714 566 2,219 4,107
Eliminated on disposal - (4,433 ) (1,262 ) (18,825 ) (24,520 )
At 31 December 2023 608 2,614 2,232 7,378 12,832
NET BOOK VALUE
At 31 December 2023 11,166 4,039 2,265 4,391 21,861
At 31 December 2022 - 2,026 3,116 5,098 10,240

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 499,307
Revaluations 300,693
At 31 December 2023 800,000
NET BOOK VALUE
At 31 December 2023 800,000
At 31 December 2022 499,307

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 800,000

5. STOCKS
2023 2022
£    £   
Stocks - 1,600

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,075 3,113
Prepayments and accrued income 14,703 13,479
Accrued income 9,775 -
25,553 16,592

PROPERTY MOVES LIMITED (REGISTERED NUMBER: 02993840)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,181,604 1,211,289
Tax 151,092 115,968
Social security and other taxes 6,528 5,191
VAT 36,744 33,790
Other creditors 3,453 2,671
Accrued expenses 6,937 5,582
1,386,358 1,374,491

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Mortgage 288,000 288,000

Amounts falling due in more than five years:

Repayable by instalments
Mortgage 288,000 288,000

9. RESERVES
Revaluation
reserve
£   
Revaluation reserve 300,693
Deferred tax (35,354 )

At 31 December 2023 265,339

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W Knight.

This was by virtue of his 85% holding of issued share capital.