IRIS Accounts Production v24.3.2.46 06618912 director 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066189122023-06-30066189122024-06-30066189122023-07-012024-06-30066189122022-06-30066189122022-07-012023-06-30066189122023-06-3006618912ns15:EnglandWales2023-07-012024-06-3006618912ns14:PoundSterling2023-07-012024-06-3006618912ns10:Director12023-07-012024-06-3006618912ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3006618912ns10:SmallEntities2023-07-012024-06-3006618912ns10:AuditExemptWithAccountantsReport2023-07-012024-06-3006618912ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3006618912ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3006618912ns10:FullAccounts2023-07-012024-06-3006618912ns10:RegisteredOffice2023-07-012024-06-3006618912ns5:CurrentFinancialInstruments2024-06-3006618912ns5:CurrentFinancialInstruments2023-06-3006618912ns5:ShareCapital2024-06-3006618912ns5:ShareCapital2023-06-3006618912ns5:RevaluationReserve2024-06-3006618912ns5:RevaluationReserve2023-06-3006618912ns5:RetainedEarningsAccumulatedLosses2024-06-3006618912ns5:RetainedEarningsAccumulatedLosses2023-06-3006618912ns5:FurnitureFittings2023-07-012024-06-3006618912ns5:FurnitureFittings2023-06-3006618912ns5:ComputerEquipment2023-06-3006618912ns5:ComputerEquipment2023-07-012024-06-3006618912ns5:FurnitureFittings2024-06-3006618912ns5:ComputerEquipment2024-06-3006618912ns5:FurnitureFittings2023-06-3006618912ns5:ComputerEquipment2023-06-3006618912ns5:RevaluationReserve2023-06-30
REGISTERED NUMBER: 06618912 (England and Wales)















Powell Properties Ltd

Unaudited Financial Statements for the Year Ended 30 June 2024






Powell Properties Ltd (Registered number: 06618912)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


Powell Properties Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: K R Powell-McNulty





REGISTERED OFFICE: Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD





REGISTERED NUMBER: 06618912 (England and Wales)





ACCOUNTANTS: Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Powell Properties Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Powell Properties Ltd for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Powell Properties Ltd in accordance with the terms of our engagement letter dated 30 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Powell Properties Ltd and state those matters that we have agreed to state to the director of Powell Properties Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Powell Properties Ltd and its director for our work or for this report.

It is your duty to ensure that Powell Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Powell Properties Ltd. You consider that Powell Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Powell Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD


Date: .............................................

Powell Properties Ltd (Registered number: 06618912)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 494 582
Investment property 5 346,000 350,800
346,494 351,382

CURRENT ASSETS
Debtors 6 772 -
Cash at bank 3,937 3,460
4,709 3,460
CREDITORS
Amounts falling due within one year 7 186,565 183,637
NET CURRENT LIABILITIES (181,856 ) (180,177 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,638

171,205

PROVISIONS FOR LIABILITIES 32,389 33,301
NET ASSETS 132,249 137,904

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 8 170,467 175,267
Retained earnings (38,228 ) (37,373 )
SHAREHOLDERS' FUNDS 132,249 137,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Properties Ltd (Registered number: 06618912)

Balance Sheet - continued
30 June 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 director and authorised for issue on 9 January 2025 and were signed by:





K R Powell-McNulty - Director


Powell Properties Ltd (Registered number: 06618912)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Powell Properties Ltd 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.

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.
Fixtures and fittings - 15% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 3,788 1,237 5,025
DEPRECIATION
At 1 July 2023 3,206 1,237 4,443
Charge for year 88 - 88
At 30 June 2024 3,294 1,237 4,531
NET BOOK VALUE
At 30 June 2024 494 - 494
At 30 June 2023 582 - 582

Powell Properties Ltd (Registered number: 06618912)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 350,800
Revaluations (4,800 )
At 30 June 2024 346,000
NET BOOK VALUE
At 30 June 2024 346,000
At 30 June 2023 350,800

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2016 31,817
Valuation in 2017 19,950
Valuation in 2018 6,650
Valuation in 2019 39,050
Valuation in 2020 9,231
Valuation in 2021 14,698
Valuation in 2022 45,071
Valuation in 2023 8,800
Valuation in 2024 (4,800 )
Cost 175,533
346,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 772 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Deposit Holding Account 1,545 1,545
Corporation tax - 798
Directors' current accounts 184,420 180,694
Accruals and deferred income 600 600
186,565 183,637

8. RESERVES
Revaluation
reserve
£   
At 1 July 2023 175,267
Investment prop reval (4,800 )

At 30 June 2024 170,467

Powell Properties Ltd (Registered number: 06618912)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. INVESTMENT PROPERTY REVALUATION

The investment property has not been revalued professionally; a reasonable estimate has been provided by the director.

10. RELATED PARTY DISCLOSURES

Included in other creditors is an amount due to Mrs K Powell-McNulty, a director. At the year end, the amount owed to to Mrs K Powell-McNulty was £184,420 (2023: £180,694). This loan is unsecured, interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K R Powell-McNulty.