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Registration number: 11077587

Propertuity Investments Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 February 2023 to 30 April 2024

 

Propertuity Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Propertuity Investments Ltd

Company Information

Director

Ms Andrea Juliet Spragg

Registered office

1 Church Lane
Berkeley
Gloucestershire
GL13 9BN

Accountants

Property Tax Advice Ltd
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Propertuity Investments Ltd

(Registration number: 11077587)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

684

Investment property

6

-

282,000

 

-

282,684

Current assets

 

Debtors

7

32,673

558

Cash at bank and in hand

 

-

12,053

 

32,673

12,611

Creditors: Amounts falling due within one year

8

(7,754)

(16)

Net current assets

 

24,919

12,595

Total assets less current liabilities

 

24,919

295,279

Creditors: Amounts falling due after more than one year

8

-

(239,874)

Provisions for liabilities

-

(14,999)

Net assets

 

24,919

40,406

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

-

63,945

Retained earnings

24,918

(23,540)

Shareholders' funds

 

24,919

40,406

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 October 2024
 

 

Propertuity Investments Ltd

(Registration number: 11077587)
Balance Sheet as at 30 April 2024 (continued)

.........................................
Ms Andrea Juliet Spragg
Director

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Church Lane
Berkeley
Gloucestershire
GL13 9BN
United Kingdom

These financial statements were authorised for issue by the director on 7 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Plant & Machinery

25% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2023 - 0).

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024 (continued)

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

-

366

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,465

1,465

Disposals

(1,465)

(1,465)

At 30 April 2024

-

-

Depreciation

At 1 February 2023

781

781

Eliminated on disposal

(781)

(781)

At 30 April 2024

-

-

Carrying amount

At 30 April 2024

-

-

At 31 January 2023

684

684

6

Investment properties

2024
£

At 1 February

282,000

Disposals

(203,055)

Fair value adjustments

(78,945)

At 30 April

-

There has been no valuation of investment property by an independent valuer.

7

Debtors

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024 (continued)

7

Debtors (continued)

Current

2024
£

2023
£

Prepayments

-

557

Other debtors

32,673

1

 

32,673

558

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

7,754

-

Other creditors

-

16

7,754

16

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

-

239,874

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(63,945)

(63,945)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

17,820

17,820

 

Propertuity Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 April 2024 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

142,347

Other borrowings

-

97,527

-

239,874