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Company Registration No. 06930625 (England and Wales)
Property Projections Limited Unaudited accounts for the year ended 31 March 2024
Property Projections Limited Unaudited accounts Contents
Page
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Property Projections Limited Company Information for the year ended 31 March 2024
Director
G H Drake
Company Number
06930625 (England and Wales)
Registered Office
6 Carr Hill Road Calverley Leeds West Yorkshire LS28 5PJ England
Accountants
True North Accountancy Ltd 19 Forest Crescent Illingworth Halifax West Yorkshire HX2 8DS
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Property Projections Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
48,399 
62,813 
Current assets
Inventories
38,000 
38,000 
Debtors
1,190 
17,170 
Cash at bank and in hand
(15,097)
6,180 
24,093 
61,350 
Creditors: amounts falling due within one year
(131,457)
(118,135)
Net current liabilities
(107,364)
(56,785)
Total assets less current liabilities
(58,965)
6,028 
Creditors: amounts falling due after more than one year
(29,801)
(40,928)
Net liabilities
(88,766)
(34,900)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(88,767)
(34,901)
Shareholders' funds
(88,766)
(34,900)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2024 and were signed on its behalf by
G H Drake Director Company Registration No. 06930625
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Property Projections Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Property Projections Limited is a private company, limited by shares, registered in England and Wales, registration number 06930625. The registered office is 6 Carr Hill Road, Calverley, Leeds, West Yorkshire, LS28 5PJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
33% Reducing Balance
Going concern
The accounts have being prepared on the going concern basis, on the understanding the Director will continue to financially support the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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Property Projections Limited Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
33,265 
82,223 
278 
115,766 
Additions
1,500 
- 
- 
1,500 
At 31 March 2024
34,765 
82,223 
278 
117,266 
Depreciation
At 1 April 2023
27,036 
25,639 
278 
52,953 
Charge for the year
1,767 
14,147 
- 
15,914 
At 31 March 2024
28,803 
39,786 
278 
68,867 
Net book value
At 31 March 2024
5,962 
42,437 
- 
48,399 
At 31 March 2023
6,229 
56,584 
- 
62,813 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
17,130 
Accrued income and prepayments
1,150 
- 
Other debtors
40 
40 
1,190 
17,170 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
8,855 
8,855 
VAT
45,863 
42,570 
Obligations under finance leases and hire purchase contracts
4,138 
31,115 
Trade creditors
38,625 
42,944 
Taxes and social security
29,632 
4,250 
Other creditors
1,770 
- 
Loans from directors
2,574 
(11,599)
131,457 
118,135 
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Property Projections Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,477 
15,811 
Obligations under finance leases and hire purchase contracts
21,324 
25,117 
29,801 
40,928 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's Loan
11,599 
842 
15,015 
(2,574)
11,599 
842 
15,015 
(2,574)
During the year, the company made interest free advances to a director amounting to £842.00 (2023 £11,599.00). These were repayable on demand. The company received repayments of £15,015.00.
10
Average number of employees
During the year the average number of employees was 4 (2023: 3).
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