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Registration number: 13949205

Probate Property Purchasers Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Probate Property Purchasers Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

Probate Property Purchasers Limited

Company Information

Director

B Kfir

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Bankers

Barclays Bank

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Probate Property Purchasers Limited

(Registration number: 13949205)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

1,305,075

732,504

Current assets

 

Debtors

1,446

622

Cash at bank and in hand

 

57

7,035

 

1,503

7,657

Creditors: Amounts falling due within one year

(1,091,750)

(470,900)

Net current liabilities

 

(1,090,247)

(463,243)

Total assets less current liabilities

 

214,828

269,261

Creditors: Amounts falling due after more than one year

(281,250)

(281,250)

Net liabilities

 

(66,422)

(11,989)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(66,423)

(11,990)

Shareholders' deficit

 

(66,422)

(11,989)

For the financial year ending 30 April 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 10 October 2024
 

 

Probate Property Purchasers Limited

(Registration number: 13949205)
Abridged Balance Sheet as at 30 April 2024

.........................................
B Kfir
Director

   
     
 

Probate Property Purchasers Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

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 abridged 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 abridged 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.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Probate Property Purchasers Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

3

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 30 April 2024

Investment properties

2024
£

At 1 May

732,504

Additions

595,075

Fair value adjustments

(22,504)

At 30 April

1,305,075

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at the balance sheet date by the director of the company. The valuation was made on an open market value basis by refernce to market evidence of transaction prices for similar properties.

If investment properties were stated on an histroical cost basis rather than a fair value basis, the amounts would have been as follows: £1,327,579 (2023 - £732,504). .

4

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1