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REGISTERED NUMBER: 07774620 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Propworks London Limited

Propworks London Limited (Registered number: 07774620)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Propworks London Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Miss E C Frankl
Miss E Banwell





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





REGISTERED NUMBER: 07774620 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Propworks London Limited (Registered number: 07774620)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,889 123,703

CURRENT ASSETS
Stocks 10,750 10,500
Debtors 5 142,290 310,503
Cash at bank and in hand 551,862 267,025
704,902 588,028
CREDITORS
Amounts falling due within one year 6 280,031 141,615
NET CURRENT ASSETS 424,871 446,413
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,760

570,116

PROVISIONS FOR LIABILITIES 20,516 21,726
NET ASSETS 525,244 548,390

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 525,144 548,290
SHAREHOLDERS' FUNDS 525,244 548,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Propworks London Limited (Registered number: 07774620)

Balance Sheet - continued
30 September 2024


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 Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





Miss E Banwell - Director


Propworks London Limited (Registered number: 07774620)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Propworks London 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from services are recognised in the period in which services are provided..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements to prop - 33% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Propworks London Limited (Registered number: 07774620)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Going concern
The company's financial statements for the year ended 30 September 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
improvements Plant and and Computer
to prop machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 42,996 1,259 68,125 50,156 162,536
Additions 4,000 - 7,307 4,089 15,396
At 30 September 2024 46,996 1,259 75,432 54,245 177,932
DEPRECIATION
At 1 October 2023 3,695 1,066 11,712 22,360 38,833
Charge for year 4,475 29 9,057 4,649 18,210
At 30 September 2024 8,170 1,095 20,769 27,009 57,043
NET BOOK VALUE
At 30 September 2024 38,826 164 54,663 27,236 120,889
At 30 September 2023 39,301 193 56,413 27,796 123,703

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 31,580 146,918
Other debtors 110,710 163,585
142,290 310,503

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 55,876 36,172
Taxation and social security 130,657 74,754
Other creditors 93,498 30,689
280,031 141,615

Propworks London Limited (Registered number: 07774620)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 182,970 224,010

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Miss E C Frankl
Balance outstanding at start of year (46,071 ) 1,181
Amounts advanced 100,969 143,239
Amounts repaid (65,052 ) (190,491 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,154 ) (46,071 )

Miss E Banwell
Balance outstanding at start of year (29,547 ) 1,181
Amounts advanced 99,556 146,339
Amounts repaid (80,164 ) (177,067 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,155 ) (29,547 )