Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31false2023-06-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12621843 2023-06-01 2024-05-31 12621843 2022-06-01 2023-05-31 12621843 2024-05-31 12621843 2023-05-31 12621843 c:Director1 2023-06-01 2024-05-31 12621843 d:FreeholdInvestmentProperty 2024-05-31 12621843 d:FreeholdInvestmentProperty 2023-05-31 12621843 d:CurrentFinancialInstruments 2024-05-31 12621843 d:CurrentFinancialInstruments 2023-05-31 12621843 d:Non-currentFinancialInstruments 2024-05-31 12621843 d:Non-currentFinancialInstruments 2023-05-31 12621843 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 12621843 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 12621843 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 12621843 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 12621843 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 12621843 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 12621843 d:ShareCapital 2024-05-31 12621843 d:ShareCapital 2023-05-31 12621843 d:RetainedEarningsAccumulatedLosses 2024-05-31 12621843 d:RetainedEarningsAccumulatedLosses 2023-05-31 12621843 c:FRS102 2023-06-01 2024-05-31 12621843 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12621843 c:FullAccounts 2023-06-01 2024-05-31 12621843 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12621843 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 12621843










POPPY'S PROPERTIES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
POPPY'S PROPERTIES LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF POPPY'S PROPERTIES LTD
FOR THE YEAR ENDED 31 MAY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Poppy's Properties Ltd for the year ended 31 May 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Poppy's Properties Ltd, as a body, in accordance with the terms of our engagement letter dated May 2022Our work has been undertaken solely to prepare for your approval the financial statements of Poppy's Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Poppy's Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Poppy's Properties Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Poppy's Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Poppy's Properties Ltd. You consider that Poppy's Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Poppy's Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
12 Church Street
Cromer
Norfolk
NR27 9ER
27 February 2025
Page 1

 
POPPY'S PROPERTIES LTD
REGISTERED NUMBER: 12621843

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
161,117
161,117

  
161,117
161,117

Current assets
  

Cash at bank and in hand
 5 
1,407
25,200

  
1,407
25,200

Creditors: amounts falling due within one year
 6 
(24,231)
(48,695)

Net current liabilities
  
 
 
(22,824)
 
 
(23,495)

Total assets less current liabilities
  
138,293
137,622

Creditors: amounts falling due after more than one year
 7 
(128,495)
(128,495)

  

Net assets
  
9,798
9,127


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
9,796
9,125

  
9,798
9,127


The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 on 27 February 2025.


Page 2

 
POPPY'S PROPERTIES LTD
REGISTERED NUMBER: 12621843
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024



................................................
Gregory Elgood
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
POPPY'S PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The Company is a private United Kingdom company limited by shares.  It is both incorporated and domiciled in England and Wales, registration number 12621843.  The address of its registered office is Walnut Tree House, Mill Road, Mattishall, Dereham, NR20 3RH.
The company's principal activity is that of renting of property. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
POPPY'S PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
POPPY'S PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
161,117



At 31 May 2024
161,117

The 2024 valuations were made by the directors,, on an open market value for existing use basis.



At 31 May 2024





5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,407
25,200

1,407
25,200


Page 6

 
POPPY'S PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25
-

Corporation tax
528
1,412

Other creditors
22,568
46,287

Accruals and deferred income
1,110
996

24,231
48,695


The following liabilities were secured:

2024
2023
£
£



Bank loan
128,495
128,495

128,495
128,495

Details of security provided:

The bank loans are secured by a fixed charge over the investment property for the company.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
128,495
128,495

128,495
128,495


Page 7

 
POPPY'S PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
128,495
128,495

128,495
128,495

128,495
128,495


 
Page 8