REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
PROPER JOB PROPERTIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
PROPER JOB PROPERTIES LIMITED |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PROPER JOB PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Hillside |
Albion Street |
Chipping Norton |
Oxfordshire |
OX7 5BH |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Proper Job Properties limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents charged net of value added tax. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. |
The directors perform regular impairment reviews to ensure that the recoverable amount is not lower than the carrying value. |
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 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 |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Revaluations |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2024 | 142,835 | - | - | 142,835 |
Cost | 369,165 | 13,674 | 2,170 | 385,009 |
512,000 | 13,674 | 2,170 | 527,844 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 369,165 | 369,165 |
Freehold land and buildings were valued on an open market basis on 31 March 2024 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Prepayments |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Tax |
VAT | 2,424 | 2,521 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans (see note 8) |
Other loans (see note 8) |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Loan from Advanced Coffee |
Equipment & Supplies Limited | 139,500 | 164,000 |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The bank loan is secured by way of a fixed and floating charge over the assets of the company. There are two charges dated 22 September 2017 and 5 July 2018 both in favour of Barclays Bank plc. |
PROPER JOB PROPERTIES LIMITED (REGISTERED NUMBER: 10822858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | PROVISIONS FOR LIABILITIES |
31.3.24 | 31.3.23 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Other timing differences | 35,708 | - |
36,710 | 1,263 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year | ( |
) |
Deferred tax on property | 35,708 |
Balance at 31 March 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary A £1 | £1 | 100 | 100 |
Ordinary B £1 | £1 | 100 | 100 |
Ordinary C £1 | £1 | 100 | 100 |
300 | 300 |
12. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation of property | 107,127 |
At 31 March 2024 |
13. | RELATED PARTY DISCLOSURES |
During the year the company rented a commercial premises to two company's owned by the directors. The rent in the financial statements comprises the total sum charged to the two entities. The rent was charged at normal commercial rates. |