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REGISTERED NUMBER: 12015401 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Powell Property Partnership Limited

Powell Property Partnership Limited (Registered number: 12015401)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Powell Property Partnership Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: E Z J Powell
Mrs E M Powell





REGISTERED OFFICE: Charter House, Wyvern Court,
Stanier Way
Wyvern Business Park
Derby
Derbyshire
DE21 6BF





REGISTERED NUMBER: 12015401 (England and Wales)





ACCOUNTANTS: M. J. Shapcott & Co. Limited
Chartered Accountants
Charter House, Wyvern Court
Stanier Way
Derby
DE21 6BF

Powell Property Partnership Limited (Registered number: 12015401)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113 141
Investment property 5 271,855 185,000
271,968 185,141

CURRENT ASSETS
Debtors 6 815 1,865
Cash at bank 1,685 16,840
2,500 18,705
CREDITORS
Amounts falling due within one year 7 73,964 54,789
NET CURRENT LIABILITIES (71,464 ) (36,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES 200,504 149,057

CREDITORS
Amounts falling due after more than one year 8 (178,138 ) (129,413 )

PROVISIONS FOR LIABILITIES (3,992 ) (3,439 )

ACCRUALS AND DEFERRED INCOME (1,399 ) (1,303 )
NET ASSETS 16,975 14,902

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 57,209 57,761
Retained earnings (40,334 ) (42,959 )
16,975 14,902

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

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

The directors acknowledge their 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.

Powell Property Partnership Limited (Registered number: 12015401)

Statement of Financial Position - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




Mrs E M Powell - Director



E Z J Powell - Director


Powell Property Partnership Limited (Registered number: 12015401)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Powell Property Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Powell Property Partnership Limited (Registered number: 12015401)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023
and 31 May 2024 300
DEPRECIATION
At 1 June 2023 159
Charge for year 28
At 31 May 2024 187
NET BOOK VALUE
At 31 May 2024 113
At 31 May 2023 141

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 185,000
Additions 86,855
At 31 May 2024 271,855
NET BOOK VALUE
At 31 May 2024 271,855
At 31 May 2023 185,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2021 46,201
Valuation in 2023 15,000
Cost 210,654
271,855

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 210,654 123,799
Aggregate depreciation (14,850 ) (7,425 )

Investment property was valued on an open market basis on 31 May 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 815 1,865

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 73,964 54,789

Powell Property Partnership Limited (Registered number: 12015401)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 178,138 129,413

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 178,138 129,413

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 178,138 129,413

The directors have provided a personal guarantee over the bank loan held by the company.

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023 57,761
Transfers (552 )

At 31 May 2024 57,209