REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Property World Investments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Property World Investments Limited |
Property World Investments Limited (Registered number: 04790892) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Property World Investments Limited (Registered number: 04790892) |
Abridged Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Property World Investments Limited (Registered number: 04790892) |
Abridged Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
Property World Investments Limited (Registered number: 04790892) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Property World Investments Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced sales of services and rental income, net of any value added tax. |
Tangible fixed assets |
Computer equipment | - |
Investment properties |
Investment properties are not depreciated, but valued at their open market value at the year end in accordance with Financial Reporting Standard 102. The non depreciation of investment properties is a departure from the requirements of the Companies Act 2006 which requires all assets with a finite useful economic life to be depreciated. This departure has been taken in order for the accounts to show a true and fair view in accordance with best practice. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Property World Investments Limited (Registered number: 04790892) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 July 2023 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Cost or valuation at 30 June 2024 is represented by: |
Totals |
£ |
Valuation in 2009 | 125,731 |
Valuation in 2020 | (11,000 | ) |
Valuation in 2021 | 42,000 |
Valuation in 2022 | 6,000 |
Valuation in 2023 | (58,381 | ) |
Valuation in 2024 | (34,186 | ) |
Cost | 90,760 |
160,924 |
If freehold land & property had not been revalued they would have been included at the following historical cost: |
30.6.24 | 30.6.23 |
£ | £ |
Cost | 87,836 | 202,269 |
Value of land in freehold land and buildings | 158,000 | 308,000 |
Freehold land & property were valued on an open market value basis on 30 June 2024 by the directors . |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.6.24 | 30.6.23 |
£ | £ |
Repayable by instalments |
Bank loans | 117,793 | 242,256 |
Property World Investments Limited (Registered number: 04790892) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
The bank loans are secured by a fixed charge on the company's investment properties. |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
Transfers | (28,567 | ) |
At 30 June 2024 |