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Registered number: 13196697
Presto Property Buyers Ltd
Unaudited Financial Statements
For the Period 1 April 2023 to 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13196697
31 October 2023 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,580,000 1,223,583
1,580,000 1,223,583
CURRENT ASSETS
Debtors 5 238,900 260,500
Cash at bank and in hand 34,174 24,526
273,074 285,026
Creditors: Amounts Falling Due Within One Year 6 (85,012 ) (84,113 )
NET CURRENT ASSETS (LIABILITIES) 188,062 200,913
TOTAL ASSETS LESS CURRENT LIABILITIES 1,768,062 1,424,496
Creditors: Amounts Falling Due After More Than One Year 7 (1,817,626 ) (1,780,525 )
NET LIABILITIES (49,564 ) (356,029 )
CAPITAL AND RESERVES
Called up share capital 8 300 300
Fair Value Reserve 9 356,417 -
Profit and Loss Account (406,281 ) (356,329 )
SHAREHOLDERS' FUNDS (49,564) (356,029)
Page 1
Page 2
For the period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sreelal Harilal
Director
Dr Fahd Khan
Director
08/11/2023
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Presto Property Buyers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13196697 . The registered office is 78 Normandy Way, Bletchley, Milton Keynes, MK3 7UW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2023: 3)
3 3
4. Investment Property
31 October 2023
£
Fair Value
As at 1 April 2023 1,223,583
Revaluations 356,417
As at 31 October 2023 1,580,000
5. Debtors
31 October 2023 31 March 2023
£ £
Due within one year
Prepayments and accrued income - 33,000
- 33,000
Due after more than one year
Intercompany debtors 238,900 227,500
238,900 227,500
238,900 260,500
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 March 2023
£ £
Trade creditors (1 ) -
Accruals and deferred income 4,500 3,000
Directors' loan accounts 80,513 81,113
85,012 84,113
7. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 March 2023
£ £
Bank loans 1,005,151 1,000,000
Investor loans > 1 year 447,155 425,355
Intercompany creditors 365,320 355,170
1,817,626 1,780,525
8. Share Capital
31 October 2023 31 March 2023
£ £
Allotted, Called up and fully paid 300 300
9. Reserves
Fair Value Reserve
£
Transfer to profit and loss 356,417
As at 31 October 2023 356,417
10. Related Party Transactions
Included in debtors are amounts owed to a connected party - Wolverton Mill Ltd.   This loan is part free of interest and part charged at a commercial rate.
Included in other creditors are amounts owed to connected parties as follows.
Provident Homes - not subject to interest.
Swiftnet Solutions Ltd - subject to interest at a commercial rate. 
Rasvit - not subject to interest.
Page 4