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Registration number: 04717091

Property People (N W) Limited

Unaudited Filleted Financial Statements

for the Period from 5 April 2023 to 30 April 2024

 

Property People (N W) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Property People (N W) Limited

Company Information

Director

WE Piercy

Registered office

Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

Accountants

Pennington Williams Limited
Chartered Certified Accountants
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

Property People (N W) Limited

(Registration number: 04717091)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

79

105

Investment property

6

265,500

535,500

 

265,579

535,605

Current assets

 

Debtors

7

388,005

18,230

Cash at bank and in hand

 

998

1,015

 

389,003

19,245

Creditors: Amounts falling due within one year

8

(103,237)

(14,264)

Net current assets

 

285,766

4,981

Total assets less current liabilities

 

551,345

540,586

Provisions for liabilities

(5,232)

-

Net assets

 

546,113

540,586

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

546,112

540,585

Shareholders' funds

 

546,113

540,586

For the financial period 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Property People (N W) Limited

(Registration number: 04717091)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 31 January 2025
 

.........................................

WE Piercy
Director

 

Property People (N W) Limited

Notes to the Unaudited Financial Statements for the Period from 5 April 2023 to 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:
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN
England

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.

The presentation currency of the financial statements is the pound sterling (£).

Going concern

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

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.

 

Property People (N W) Limited

Notes to the Unaudited Financial Statements for the Period from 5 April 2023 to 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

25% on reducing balance

Fixtures and fittings

33% on cost

Computer equipment

25% on cost

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.

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.

 

Property People (N W) Limited

Notes to the Unaudited Financial Statements for the Period from 5 April 2023 to 30 April 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

27

35

 

Property People (N W) Limited

Notes to the Unaudited Financial Statements for the Period from 5 April 2023 to 30 April 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 5 April 2023

199

8,881

1,988

11,068

At 30 April 2024

199

8,881

1,988

11,068

Depreciation

At 5 April 2023

199

8,776

1,988

10,963

Charge for the period

-

26

-

26

At 30 April 2024

199

8,802

1,988

10,989

Carrying amount

At 30 April 2024

-

79

-

79

At 4 April 2023

-

105

-

105

6

Investment properties

2024
£

At 5 April

535,500

Disposals

(270,000)

At 30 April

265,500

Fair Value at 4 April 2023 is represented by original cost of £600,044, disposals of £270,000 (2024) and revaluations of - £64,544 (2015 increase of 54,206, 2017 increase of 115,750, 2018 a decrease of 30,000 2019, a decrease of 85,000 2020, a decrease of 60,000 2021, a decrease of £59,500 2022 and no change in 2023 ). Disposals Properties valued the same at 30th April 2024 as at 4th April 2023 so no revaluation in year.

7

Debtors

Current

2024
£

2023
£

Other debtors

388,005

18,230

 

388,005

18,230

 

Property People (N W) Limited

Notes to the Unaudited Financial Statements for the Period from 5 April 2023 to 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,454

2,454

Taxation and social security

98,630

9,657

Accruals and deferred income

2,153

2,153

103,237

14,264

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

10

Related party transactions

Transactions with the director

2024

At 5 April 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

WE Piercy

Director's loan account

13,361

340,958

(65,575)

288,745

Interest of 2.25% charged on overdrawn amount

267

1,084

-

1,351

 

13,629

342,042

(65,575)

290,096

       

 

 

Property People (N W) Limited

Notes to the Unaudited Financial Statements for the Period from 5 April 2023 to 30 April 2024

2023

At 5 April 2022
£

Advances to director
£

Repayments by director
£

At 4 April 2023
£

WE Piercy

Director's loan account

(2,904)

35,469

(19,204)

13,361

Interest of 2.25% charged on overdrawn amount

-

267

-

267

 

(2,904)

35,737

(19,204)

13,629