6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 91,442 44,433 9,145 53,578 37,864 47,009 xbrli:pure xbrli:shares iso4217:GBP 6913829 2023-06-01 2024-05-31 6913829 2024-05-31 6913829 2023-05-31 6913829 2022-06-01 2023-05-31 6913829 2023-05-31 6913829 2022-05-31 6913829 core:NetGoodwill 2023-06-01 2024-05-31 6913829 core:PlantMachinery 2023-06-01 2024-05-31 6913829 core:MotorVehicles 2023-06-01 2024-05-31 6913829 bus:Director1 2023-06-01 2024-05-31 6913829 core:NetGoodwill 2023-05-31 6913829 core:NetGoodwill 2024-05-31 6913829 core:LandBuildings 2023-05-31 6913829 core:PlantMachinery 2023-05-31 6913829 core:MotorVehicles 2023-05-31 6913829 core:LandBuildings 2024-05-31 6913829 core:PlantMachinery 2024-05-31 6913829 core:MotorVehicles 2024-05-31 6913829 core:WithinOneYear 2024-05-31 6913829 core:WithinOneYear 2023-05-31 6913829 core:AfterOneYear 2024-05-31 6913829 core:AfterOneYear 2023-05-31 6913829 core:ShareCapital 2024-05-31 6913829 core:ShareCapital 2023-05-31 6913829 core:RetainedEarningsAccumulatedLosses 2024-05-31 6913829 core:RetainedEarningsAccumulatedLosses 2023-05-31 6913829 core:NetGoodwill 2023-05-31 6913829 core:LandBuildings 2023-05-31 6913829 core:PlantMachinery 2023-05-31 6913829 core:MotorVehicles 2023-05-31 6913829 bus:SmallEntities 2023-06-01 2024-05-31 6913829 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 6913829 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 6913829 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 6913829 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 6913829
Property Book UK Limited
Filleted Unaudited Financial Statements
For the Year Ended
31 May 2024
Property Book UK Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed Assets
Intangible assets
5
37,864
47,009
Tangible assets
6
193,784
195,277
----------
----------
231,648
242,286
Current Assets
Debtors
7
151,774
31,585
Cash at bank and in hand
176,136
257,389
----------
----------
327,910
288,974
Creditors: amounts falling due within one year
8
215,540
209,356
----------
----------
Net Current Assets
112,370
79,618
----------
----------
Total Assets Less Current Liabilities
344,018
321,904
Creditors: amounts falling due after more than one year
9
11,375
21,608
Provisions
Taxation including deferred tax
1,826
2,144
----------
----------
Net Assets
330,817
298,152
----------
----------
Property Book UK Limited
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
330,717
298,052
----------
----------
Shareholders Funds
330,817
298,152
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 February 2025 , and are signed on behalf of the board by:
B.J. Wilde
Director
Company registration number: 6913829
Property Book UK Limited
Notes to the Financial Statements
Year Ended 31st May 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis.
Revenue Recognition
The turnover shown in the profit and loss account represents rental commissions invoiced during the year, exclusive of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% straight line
Motor vehicles
-
25% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Intangible Assets
Goodwill
£
Cost
At 1st June 2023 and 31st May 2024
91,442
---------
Amortisation
At 1st June 2023
44,433
Charge for the year
9,145
---------
At 31st May 2024
53,578
---------
Carrying amount
At 31st May 2024
37,864
---------
At 31st May 2023
47,009
---------
6. Tangible Assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1st June 2023
183,083
39,256
13,098
235,437
Additions
2,836
2,836
----------
---------
---------
----------
At 31st May 2024
183,083
42,092
13,098
238,273
----------
---------
---------
----------
Depreciation
At 1st June 2023
32,266
7,894
40,160
Charge for the year
2,767
1,562
4,329
----------
---------
---------
----------
At 31st May 2024
35,033
9,456
44,489
----------
---------
---------
----------
Carrying amount
At 31st May 2024
183,083
7,059
3,642
193,784
----------
---------
---------
----------
At 31st May 2023
183,083
6,990
5,204
195,277
----------
---------
---------
----------
7. Debtors
2024
2023
£
£
Trade debtors
24,122
30,585
Other debtors
127,652
1,000
----------
---------
151,774
31,585
----------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,234
9,979
Corporation tax
39,724
30,054
Social security and other taxes
21,894
23,716
Other creditors
143,688
145,607
----------
----------
215,540
209,356
----------
----------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,375
21,608
---------
---------