Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302false2023-05-17falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14876931 2023-05-16 14876931 2023-05-17 2024-06-30 14876931 2022-05-17 2023-05-16 14876931 2024-06-30 14876931 c:Director1 2023-05-17 2024-06-30 14876931 d:OfficeEquipment 2023-05-17 2024-06-30 14876931 d:OfficeEquipment 2024-06-30 14876931 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-17 2024-06-30 14876931 d:ComputerEquipment 2023-05-17 2024-06-30 14876931 d:ComputerEquipment 2024-06-30 14876931 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-17 2024-06-30 14876931 d:OwnedOrFreeholdAssets 2023-05-17 2024-06-30 14876931 d:CurrentFinancialInstruments 2024-06-30 14876931 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14876931 d:ShareCapital 2024-06-30 14876931 d:RetainedEarningsAccumulatedLosses 2024-06-30 14876931 c:OrdinaryShareClass1 2023-05-17 2024-06-30 14876931 c:OrdinaryShareClass1 2024-06-30 14876931 c:OrdinaryShareClass2 2023-05-17 2024-06-30 14876931 c:OrdinaryShareClass2 2024-06-30 14876931 c:OrdinaryShareClass3 2023-05-17 2024-06-30 14876931 c:OrdinaryShareClass3 2024-06-30 14876931 c:OrdinaryShareClass4 2023-05-17 2024-06-30 14876931 c:OrdinaryShareClass4 2024-06-30 14876931 c:OrdinaryShareClass5 2023-05-17 2024-06-30 14876931 c:OrdinaryShareClass5 2024-06-30 14876931 c:FRS102 2023-05-17 2024-06-30 14876931 c:AuditExempt-NoAccountantsReport 2023-05-17 2024-06-30 14876931 c:FullAccounts 2023-05-17 2024-06-30 14876931 c:PrivateLimitedCompanyLtd 2023-05-17 2024-06-30 14876931 e:PoundSterling 2023-05-17 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14876931









PROPERTY CASH CONVERTERS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
PROPERTY CASH CONVERTERS LTD
REGISTERED NUMBER: 14876931

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
5,406

  
5,406

Current assets
  

Debtors: amounts falling due within one year
 5 
352,186

Cash at bank and in hand
 6 
112

  
352,298

Creditors: amounts falling due within one year
 7 
(486,500)

Net current (liabilities)/assets
  
 
 
(134,202)

Total assets less current liabilities
  
(128,796)

  

Net (liabilities)/assets
  
(128,796)


Capital and reserves
  

Called up share capital 
 8 
1,214

Profit and loss account
  
(130,010)

  
(128,796)


Page 1

 
PROPERTY CASH CONVERTERS LTD
REGISTERED NUMBER: 14876931
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J A Shields
Director

Date: 26 February 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PROPERTY CASH CONVERTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Property Cash Convertes Ltd is a private company limited by shares and incorporated in England & Wales (registerd number 14876931). The registerd office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.
The company was incorporated on 17 May 2023 and started trading on the same day.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the directors that they will give they full financial support to the company for the foreseeable future. The directors believe that it is therefore appropriate for the financial statements to be prepared on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PROPERTY CASH CONVERTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
33%
Reducing balance method
Computer equipment
-
20%
Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PROPERTY CASH CONVERTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


     Period ended
        30 June
        2024
            No.






Directors
2


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
4,976
1,188
6,164



At 30 June 2024

4,976
1,188
6,164



Depreciation


Charge for the period on owned assets
553
205
758



At 30 June 2024

553
205
758



Net book value



At 30 June 2024
4,423
983
5,406

Page 5

 
PROPERTY CASH CONVERTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Debtors

2024
£


Amounts owed by group undertakings
350,824

Prepayments and accrued income
1,362

352,186



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
112

112



7.


Creditors: Amounts falling due within one year

2024
£

Amounts owed to group undertakings
272,080

Other taxation and social security
253

Other creditors
212,667

Accruals and deferred income
1,500

486,500


Page 6

 
PROPERTY CASH CONVERTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

8.


Share capital

2024
£
Allotted, called up and fully paid


425 Ordinary A shares of £1.00 each
425
425 Ordinary B shares of £1.00 each
425
150 Ordinary C shares of £1.00 each
150
62 Ordinary D shares of £1.00 each
62
71 Ordinary E shares of £1.00 each
71
81 Ordinary F shares of £1.00 each
81

1,214


On incorporation, 425 Ordinary A shares of £1 each, 425 Ordinary B shares of £1 each and 150 Ordinary C shares of £1 each were issued.
On 1 December 2023 62 Ordinary D shares of £1 each, 71 Ordinary E shares of £1 each and 81 Ordinary F shares of £1 each were issued.

 
Page 7