Providence Property Group Ltd 13888510 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is buying, selling and leasing of property. Digita Accounts Production Advanced 6.30.9574.0 true true 13888510 2023-03-01 2024-02-29 13888510 2024-02-29 13888510 core:RetainedEarningsAccumulatedLosses 2024-02-29 13888510 core:RevaluationReserve 2024-02-29 13888510 core:ShareCapital 2024-02-29 13888510 core:CurrentFinancialInstruments 2024-02-29 13888510 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13888510 bus:SmallEntities 2023-03-01 2024-02-29 13888510 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13888510 bus:FilletedAccounts 2023-03-01 2024-02-29 13888510 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13888510 bus:RegisteredOffice 2023-03-01 2024-02-29 13888510 bus:Director1 2023-03-01 2024-02-29 13888510 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13888510 countries:EnglandWales 2023-03-01 2024-02-29 13888510 2023-02-28 13888510 2022-02-02 2023-02-28 13888510 2023-02-28 13888510 core:RetainedEarningsAccumulatedLosses 2023-02-28 13888510 core:RevaluationReserve 2023-02-28 13888510 core:ShareCapital 2023-02-28 13888510 core:CurrentFinancialInstruments 2023-02-28 13888510 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 13888510

Providence Property Group Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Providence Property Group Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Providence Property Group Ltd

Company Information

Director

Mr M Berry

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Providence Property Group Ltd

(Registration number: 13888510)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

75,000

75,000

Current assets

 

Debtors

5

100

100

Cash at bank and in hand

 

19

1,017

 

119

1,117

Creditors: Amounts falling due within one year

6

(66,042)

(72,674)

Net current liabilities

 

(65,923)

(71,557)

Total assets less current liabilities

 

9,077

3,443

Provisions for liabilities

(3,181)

(3,312)

Net assets

 

5,896

131

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

14,250

14,119

Retained earnings

(8,454)

(14,088)

Shareholders' funds

 

5,896

131

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr M Berry
Director

 

Providence Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Providence Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 March

75,000

At 29 February

75,000

 

Providence Property Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Other debtors

100

100

100

100

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

960

973

Other creditors

746

-

Director loan account

64,336

71,701

66,042

72,674