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REGISTERED NUMBER: 09515232 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PROPERTY SHOP (SOUTH) LTD

PROPERTY SHOP (SOUTH) LTD (REGISTERED NUMBER: 09515232)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance sheet 1

Notes to the financial statements 2


PROPERTY SHOP (SOUTH) LTD (REGISTERED NUMBER: 09515232)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,952 2,592

Current assets
Debtors 5 7,616 1,384
Cash at bank 9,046 16,938
16,662 18,322
Creditors
Amounts falling due within one year 6 19,901 14,318
Net current (liabilities)/assets (3,239 ) 4,004
Total assets less current liabilities 713 6,596

Provisions for liabilities 7 512 201
Net assets 201 6,395

Capital and reserves
Called up share capital 8 200 200
Retained earnings 1 6,195
Shareholders' funds 201 6,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2024 and were signed by:





Mr A C Fleming - Director


PROPERTY SHOP (SOUTH) LTD (REGISTERED NUMBER: 09515232)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Property Shop (South) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09515232. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 161 Alder Road, Parkstone, Poole, Dorset, BH12 4AA.

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.

Turnover
Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised as soon as the service has been provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

PROPERTY SHOP (SOUTH) LTD (REGISTERED NUMBER: 09515232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 April 2023 6,561 2,866 9,427
Additions - 3,144 3,144
Disposals - (2,866 ) (2,866 )
At 31 March 2024 6,561 3,144 9,705
Depreciation
At 1 April 2023 4,435 2,400 6,835
Charge for year 532 786 1,318
Eliminated on disposal - (2,400 ) (2,400 )
At 31 March 2024 4,967 786 5,753
Net book value
At 31 March 2024 1,594 2,358 3,952
At 31 March 2023 2,126 466 2,592

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors - 900
Directors' current accounts 7,488 -
Prepayments 128 484
7,616 1,384

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 3 -
Trade creditors 2,683 1,792
Tax 11,086 7,506
VAT 3,354 3,022
Directors' current accounts - 307
Accruals and deferred income 2,775 1,691
19,901 14,318

7. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 512 201

PROPERTY SHOP (SOUTH) LTD (REGISTERED NUMBER: 09515232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 April 2023 201
Charge to Income statement during year 311
Balance at 31 March 2024 512

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1.00 100 100
100 Ordinary B £1.00 100 100
200 200

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr A C Fleming
Balance outstanding at start of year - -
Amounts advanced 7,488 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,488 -

The director's loan account was repaid within 9 months of the year end.

10. Ultimate controlling party

The company is controlled by the director, Mr A Fleming, who owns 100% of the issued share capital with voting rights.