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REGISTERED NUMBER: 14046458 (England and Wales)














PROPERTY6 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






PROPERTY6 LIMITED (REGISTERED NUMBER: 14046458)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PROPERTY6 LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: Miss A E Hutchinson





REGISTERED OFFICE: 74 Redlands
Houghton Le Spring
Tyne and Wear
DH4 7LF





REGISTERED NUMBER: 14046458 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

PROPERTY6 LIMITED (REGISTERED NUMBER: 14046458)

STATEMENT OF FINANCIAL POSITION
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 70,000 70,000

CURRENT ASSETS
Cash at bank 2,515 1,875

CREDITORS
Amounts falling due within one year 6 64,690 66,279
NET CURRENT LIABILITIES (62,175 ) (64,404 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,825

5,596

PROVISIONS FOR LIABILITIES 1,389 1,900
NET ASSETS 6,436 3,696

CAPITAL AND RESERVES
Called up, paid and allotted share capital 1 1
Non-distributable reserves 7 5,924 7,313
Retained earnings 7 511 (3,618 )
SHAREHOLDERS' FUNDS 6,436 3,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 5 February 2025 and were signed by:




Miss A E Hutchinson - Director


PROPERTY6 LIMITED (REGISTERED NUMBER: 14046458)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Property6 Limited 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.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, which is considered appropriate by the director as the company operates within its agreed banking facilities and with the support of the director.

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.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 70,000
NET BOOK VALUE
At 31 July 2024 70,000
At 31 July 2023 70,000

PROPERTY6 LIMITED (REGISTERED NUMBER: 14046458)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

5. INVESTMENT PROPERTY - continued

Investment properties were valued on an open market basis on 31 July 2024 by the director.

If investment properties had not been revalued they would have been included at historical cost totalling £62,687.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 523 1,312
Other creditors 64,167 64,967
64,690 66,279

7. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 August 2023 (3,618 ) 7,313 3,695
Profit for the year 2,740 2,740
Trf of revaluations in year 1,389 (1,389 ) -
At 31 July 2024 511 5,924 6,435

8. RELATED PARTY DISCLOSURES

The director operates a loan account with the company. During the year, brought forward loans were repaid in aggregate of £800. At the year end, the company owed £64,167 to the director.