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COMPANY REGISTRATION NUMBER: 12395392
PROPERTY CONCIERGE GROUP LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2024
PROPERTY CONCIERGE GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
20,246
20,878
Current assets
Debtors
6
8,666
11,018
Cash at bank and in hand
3,069
1,046
--------
--------
11,735
12,064
Creditors: amounts falling due within one year
7
342,947
249,928
---------
---------
Net current liabilities
331,212
237,864
---------
---------
Total assets less current liabilities
( 310,966)
( 216,986)
Creditors: amounts falling due after more than one year
8
16,745
21,276
---------
---------
Net liabilities
( 327,711)
( 238,262)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 327,713)
( 238,264)
---------
---------
Shareholders deficit
( 327,711)
( 238,262)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PROPERTY CONCIERGE GROUP LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 23 October 2024 , and are signed on behalf of the board by:
Miss M G Valentine
Director
Company registration number: 12395392
PROPERTY CONCIERGE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Gromlech Business PArc, Y Ffor, Pwllheli, LL53 6US, Gwynedd.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have reviewed a period of 12 months from the date of approval of these financial statements and have confirmed their willingness to retain their loan in the company to enable it to meet all its liabilities as they fall due. As a result it is appropriate to prepare these accounts on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2023: 20 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 February 2023
11,928
24,675
36,603
Additions
1,262
7,999
9,261
Disposals
( 10,400)
( 10,400)
--------
--------
--------
At 31 January 2024
13,190
22,274
35,464
--------
--------
--------
Depreciation
At 1 February 2023
3,848
11,877
15,725
Charge for the year
1,404
4,102
5,506
Disposals
( 6,013)
( 6,013)
--------
--------
--------
At 31 January 2024
5,252
9,966
15,218
--------
--------
--------
Carrying amount
At 31 January 2024
7,938
12,308
20,246
--------
--------
--------
At 31 January 2023
8,080
12,798
20,878
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
8,455
10,807
Other debtors
211
211
-------
--------
8,666
11,018
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
33,304
14,949
Social security and other taxes
56,497
31,859
Other creditors
253,146
203,120
---------
---------
342,947
249,928
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,745
21,276
--------
--------
9. Directors' advances, credits and guarantees
There are no Directors Advances credits or guarantees to be disclosed in the accounts.