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Registration number: 12548466

Property Wanted Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Property Wanted Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Property Wanted Investments Ltd

Company Information

Director

Mr Glen Antony Dully

Registered office

93 Aviemore Drive
Cinnamon Brow
Warrington
Cheshire
WA2 0TH

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Property Wanted Investments Ltd

(Registration number: 12548466)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

451

595

Investment property

6

285,000

260,000

Investments

7

100

100

 

285,551

260,695

Current assets

 

Debtors

8

40

40

Cash at bank and in hand

 

295

1,203

 

335

1,243

Creditors: Amounts falling due within one year

9

(2,549)

(6,318)

Net current liabilities

 

(2,214)

(5,075)

Total assets less current liabilities

 

283,337

255,620

Creditors: Amounts falling due after more than one year

9

(267,328)

(256,585)

Provisions for liabilities

(12,236)

(7,486)

Net assets/(liabilities)

 

3,773

(8,451)

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

52,165

31,915

Retained earnings

(48,492)

(40,466)

Shareholders' funds/(deficit)

 

3,773

(8,451)

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.

Approved and authorised by the director on 22 January 2025
 

 

Property Wanted Investments Ltd

(Registration number: 12548466)
Balance Sheet as at 30 April 2024 (continued)

.........................................
Mr Glen Antony Dully
Director

 

Property Wanted Investments Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
93 Aviemore Drive
Cinnamon Brow
Warrington
Cheshire
WA2 0TH

These financial statements were authorised for issue by the director on 22 January 2025.

2

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

SA Furniture & Equipment

Straightline basis 25%

 

Property Wanted Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Investment property

The fair value of the property at the year end has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in the location the property is situated.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Property Wanted Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

377

347

 

Property Wanted Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

1,387

1,387

Additions

270

270

Disposals

(150)

(150)

At 30 April 2024

1,507

1,507

Depreciation

At 1 May 2023

792

792

Charge for the year

377

377

Eliminated on disposal

(113)

(113)

At 30 April 2024

1,056

1,056

Carrying amount

At 30 April 2024

451

451

At 30 April 2023

595

595

6

Investment properties

2024
£

At 1 May

260,000

Fair value adjustments

25,000

At 30 April

285,000

The fair value of the property at 30th April 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £285,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

 

Property Wanted Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 May 2023

100

Provision

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

8

Debtors

Current

2024
£

2023
£

Prepayments

40

40

 

40

40

 

Property Wanted Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

952

4,998

Accruals and deferred income

1,597

1,320

2,549

6,318

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

267,310

256,567

Other non-current financial liabilities

 

18

18

 

267,328

256,585

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

267,310

256,567