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REGISTERED NUMBER: 11165519 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Prop Pal Limited

Prop Pal Limited (Registered number: 11165519)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Prop Pal Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr S W Cheshire
Mr D S Cheshire
Mr J Ashworth-Jones





REGISTERED OFFICE: Hillgate Place
77 Middle Hillgate
Stockport
Cheshire
SK1 3EH





REGISTERED NUMBER: 11165519 (England and Wales)





ACCOUNTANTS: HLP Ltd
Accounting and Tax Solutions
Hillgate Place
77 Middle Hillgate
Stockport
Cheshire
SK1 3EH

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Prop Pal Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Prop Pal Limited for the period ended 31 December 2023 which comprises the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Prop Pal Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Prop Pal Limited and state those matters that we have agreed to state to the Board of Directors of Prop Pal Limited, as a body, and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Prop Pal Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position of profit or loss of Prop Pal Limited. You consider that Prop Pal Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Prop Pal Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given us and we do not, therefore, express any opinion on the statutory financial statements.






HLP Ltd
Accounting and Tax Solutions
Hillgate Place
77 Middle Hillgate
Stockport
Cheshire
SK1 3EH


20 September 2024

Prop Pal Limited (Registered number: 11165519)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,200
Tangible assets 5 31,303 16,242
31,303 18,442

CURRENT ASSETS
Stocks 5,402 4,507
Debtors 6 28,057 12,118
Cash at bank and in hand 145,793 123,312
179,252 139,937
CREDITORS
Amounts falling due within one year 7 45,059 42,351
NET CURRENT ASSETS 134,193 97,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,496

116,028

CREDITORS
Amounts falling due after more than one
year

8

19,829

5,167
NET ASSETS 145,667 110,861

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 145,467 110,661
SHAREHOLDERS' FUNDS 145,667 110,861

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.

Prop Pal Limited (Registered number: 11165519)

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 Profit and Loss Account 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 S W Cheshire - Director


Prop Pal Limited (Registered number: 11165519)

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

1. STATUTORY INFORMATION

Prop Pal 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Financial instruments
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Prop Pal Limited (Registered number: 11165519)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account 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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Going concern
The financial statements have been prepared on a going concern basis. This may not be appropriate because the company's liabilities exceed its assets.

The company meets its day-to-day working capital requirements from cash at bank. The level of cash held by the company is sufficient to fund expected requirements based on forecast and projections taking account of reasonable possible changes in trading performance.

After making enquiries, the directors have reasonable expectation that the company has adequate resources, together with support from its major creditors, to continue in operational existence for a period of at least twelve months and for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 11,000
AMORTISATION
At 1 January 2023 8,800
Amortisation for year 2,200
At 31 December 2023 11,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 2,200

Prop Pal Limited (Registered number: 11165519)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 2,567 12,500 4,085 19,152
Additions - 27,850 1,798 29,648
Disposals - (12,500 ) - (12,500 )
At 31 December 2023 2,567 27,850 5,883 36,300
DEPRECIATION
At 1 January 2023 321 1,563 1,026 2,910
Charge for year 561 4,804 1,019 6,384
Eliminated on disposal - (4,297 ) - (4,297 )
At 31 December 2023 882 2,070 2,045 4,997
NET BOOK VALUE
At 31 December 2023 1,685 25,780 3,838 31,303
At 31 December 2022 2,246 10,937 3,059 16,242

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,256 6,625
Other debtors 801 5,493
28,057 12,118

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,054 1,951
Trade creditors 11,629 10,795
Taxation and social security 11,544 9,495
Other creditors 15,832 20,110
45,059 42,351

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,829 5,167

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S W Cheshire.