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Logo On Report
Registered Number: 11300828
England & Northern Ireland

 

 

 

PURPOSE PROPERTY (HAMPSHIRE) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 31 October 2023
Director Peter Mill
Registered Number 11300828
Registered Office 37A Victoria Road
Southampton
Hampshire
SO19 9DY
Accountants JSR Management & HR Consultancy Services Ltd
37A Victoria Road
Southampton
SO19 9DY
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 October 2023.
Principal activities
Principal activity of the company during the financial period was of buying and selling of own real estate and other letting and operating of own or leased real estate.
Director
The director who served the company throughout the period was as follows:
Peter Mill
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Peter Mill
Director

Date approved: 31 October 2024
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................
Mrs Susan Robertson FMAAT ACIPP
JSR Management & HR Consultancy Services Ltd

37A Victoria Road
Southampton
SO19 9DY
31 October 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 270,800    270,800 
270,800    270,800 
Current assets      
Debtors 5 100    100 
Cash at bank and in hand (1)  
99    100 
Creditors: amount falling due within one year 6   (700)
Net current assets 99    (600)
 
Total assets less current liabilities 270,899    270,200 
Creditors: amount falling due after more than one year 7 (322,427)   (304,885)
Net assets (51,528)   (34,685)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (51,628)   (34,785)
Shareholders' funds (51,528)   (34,685)
 


For the period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


-------------------------------
Peter Mill
Director
4
General Information
Purpose Property (Hampshire) Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 11300828, registration address 37A Victoria Road, Southampton, Hampshire, SO19 9DY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Average number of employees

Average number of employees during the period was 1 (2022 : 0).
3.

Financial Commitments, Guarantees and Contingencies

Long Term Mortgage secured over the sole asset of the company (Fixed Charge)

Directors have personally guaranteed this mortgage.

4.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 May 2022 270,800    270,800 
Additions  
Disposals  
At 31 October 2023 270,800    270,800 
Depreciation
At 01 May 2022  
Charge for period  
On disposals  
At 31 October 2023  
Net book values
Closing balance as at 31 October 2023 270,800    270,800 
Opening balance as at 01 May 2022 270,800    270,800 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 100    100 
100    100 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Directors' Current Accounts   700 
  700 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 196,995    196,995 
Amounts Owed to Group Undertakings 125,432    98,253 
Other Creditors   9,637 
322,427    304,885 

5