COMPANY REGISTRATION NUMBER:
02722267
PRIVATESTART PROPERTY MANAGEMENT LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
PRIVATESTART PROPERTY MANAGEMENT LIMITED |
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STATEMENT OF FINANCIAL POSITION |
|
30 June 2024
Fixed assets
Current assets
Cash at bank and in hand |
3,201 |
|
987 |
|
------- |
|
---- |
Net current assets |
|
3,201 |
987 |
|
|
------- |
---- |
Total assets less current liabilities |
|
3,202 |
988 |
|
|
------- |
---- |
|
|
|
|
Capital and reserves
Called up share capital |
|
4 |
4 |
Profit and loss account |
|
3,198 |
984 |
|
|
------- |
---- |
Shareholders funds |
|
3,202 |
988 |
|
|
------- |
---- |
|
|
|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
2 December 2024
, and are signed on behalf of the board by:
Company registration number:
02722267
PRIVATESTART PROPERTY MANAGEMENT LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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YEAR ENDED 30 JUNE 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Half Moon Lane, Herne Hill, London, SE24 9JU.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Service charge
The management and service charge are recovered from the 4 lessess by way of a service charge levy. The service charge expenditure for the year ended 30 June 2017 has been based on infomration and explanations supplied by the managing agents. The balance on the service charge account has been shown on the balance sheet as a reserver held for lessees.
Tangible assets
The Freehold interest on the property at 348 Brownhill Road, Catford, SE6 1AY is shown at a nominal valuation of £1. There are 4 flats with leases of 999 years from 22 May 1976.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.