Registered number
07501495
Property Eye Building Services Limited
Filleted Accounts
31 January 2024
Property Eye Building Services Limited
Registered number: 07501495
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36,515 26,675
Current assets
Debtors 4 379,228 372,484
Cash at bank 353,909 343,260
733,137 715,744
Creditors: amounts falling due within one year 5 (377,608) (373,347)
Net current assets 355,529 342,397
Total assets less current liabilities 392,044 369,072
Creditors: amounts falling due after more than one year 6 (26,667) (46,667)
Provisions for liabilities (9,129) (6,669)
Net assets 356,248 315,736
Capital and reserves
Called up share capital 100 100
Profit and loss account 356,148 315,636
Shareholders' funds 356,248 315,736
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
NC Edwards
Director
Approved by the board on 30 October 2024
Property Eye Building Services Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost of each asset over its expected useful life, as follows:
Equipment 25% on reducing balance
Motor vehicles 20% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2023 9,984 35,038 45,022
Additions 314 16,950 17,264
At 31 January 2024 10,298 51,988 62,286
Depreciation
At 1 February 2023 4,934 13,413 18,347
Charge for the year 1,324 6,100 7,424
At 31 January 2024 6,258 19,513 25,771
Net book value
At 31 January 2024 4,040 32,475 36,515
At 31 January 2023 5,050 21,625 26,675
4 Debtors 2024 2023
£ £
Trade debtors 359,978 347,118
Other debtors and prepayments 19,250 25,366
379,228 372,484
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan 20,000 20,000
Trade creditors 106,323 141,201
Taxation and national insurance costs 187,082 152,319
Other creditors and accruals 64,203 59,827
377,608 373,347
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 26,667 46,667
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loan 46,667 66,667
The bank loan is secured with a fixed and floating charge over all assets.
8 Other information
Property Eye Building Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Shoveller Drive
Apley
Telford
Shropshire
TF1 6GQ
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