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Company Registration No. 05259837 (England and Wales)
Phil McDiarmid Property Management Ltd Unaudited accounts for the year ended 30 April 2024
Phil McDiarmid Property Management Ltd Unaudited accounts Contents
Page
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Phil McDiarmid Property Management Ltd Company Information for the year ended 30 April 2024
Directors
Philip McDiarmid Philip McDiarmid
Company Number
05259837 (England and Wales)
Registered Office
73 High Street Sutton Ely Cambs CB6 2NL
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Phil McDiarmid Property Management Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
995 
1,681 
Investment property
1,615,000 
2,963,000 
1,615,995 
2,964,681 
Current assets
Debtors
199,083 
153,850 
Cash at bank and in hand
40,186 
21,430 
239,269 
175,280 
Creditors: amounts falling due within one year
(373,592)
(572,866)
Net current liabilities
(134,323)
(397,586)
Total assets less current liabilities
1,481,672 
2,567,095 
Creditors: amounts falling due after more than one year
(1,227,179)
(2,016,493)
Provisions for liabilities
Deferred tax
(10,044)
(59,123)
Net assets
244,449 
491,479 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
38,560 
248,225 
Profit and loss account
205,887 
243,252 
Shareholders' funds
244,449 
491,479 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
Philip McDiarmid Director Company Registration No. 05259837
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Phil McDiarmid Property Management Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Phil McDiarmid Property Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 05259837. The registered office is 73 High Street, Sutton, Ely, Cambs, CB6 2NL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 5 years
Fixtures & fittings
over 5 years
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Phil McDiarmid Property Management Ltd Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 May 2023
27,525 
At 30 April 2024
27,525 
Depreciation
At 1 May 2023
25,844 
Charge for the year
686 
At 30 April 2024
26,530 
Net book value
At 30 April 2024
995 
At 30 April 2023
1,681 
5
Investment property
2024 
£ 
Fair value at 1 May 2023
2,963,000 
Disposals
(1,089,156)
Net loss from fair value adjustments
(258,844)
At 30 April 2024
1,615,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
11,722 
16,097 
Other debtors
187,361 
137,753 
199,083 
153,850 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,723 
3,723 
Trade creditors
14,915 
18,620 
Taxes and social security
540 
36,030 
Other creditors
313,876 
495,632 
Accruals
791 
4,017 
Deferred income
39,747 
14,844 
373,592 
572,866 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
18,924 
22,647 
Other creditors
1,208,255 
1,993,846 
1,227,179 
2,016,493 
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Phil McDiarmid Property Management Ltd Notes to the Accounts for the year ended 30 April 2024
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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