Youknowwho Property Limited 05484848 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of commercial property letting Digita Accounts Production Advanced 6.30.9574.0 true 05484848 2023-07-01 2024-06-30 05484848 2024-06-30 05484848 core:CurrentFinancialInstruments 2024-06-30 05484848 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 05484848 bus:SmallEntities 2023-07-01 2024-06-30 05484848 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05484848 bus:FilletedAccounts 2023-07-01 2024-06-30 05484848 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05484848 bus:RegisteredOffice 2023-07-01 2024-06-30 05484848 bus:Director1 2023-07-01 2024-06-30 05484848 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05484848 core:OtherRelatedParties 2023-07-01 2024-06-30 05484848 countries:EnglandWales 2023-07-01 2024-06-30 05484848 2022-07-01 2023-06-30 05484848 2023-06-30 05484848 core:CurrentFinancialInstruments 2023-06-30 05484848 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 05484848

Prepared for the registrar

Youknowwho Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Youknowwho Property Limited

(Registration number: 05484848)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

232,257

223,658

Current assets

 

Debtors

5

54,202

70,359

Cash at bank and in hand

 

8,929

8,843

 

63,131

79,202

Creditors: Amounts falling due within one year

6

(65,829)

(83,247)

Net current liabilities

 

(2,698)

(4,045)

Total assets less current liabilities

 

229,559

219,613

Deferred tax liabilities

-

(2,441)

Net assets

 

229,559

217,172

Capital and reserves

 

Called up share capital

2

2

Retained earnings

229,557

217,170

Shareholders' funds

 

229,559

217,172

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 


A E Bateman
Director

 

Youknowwho Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Youknowwho Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Youknowwho Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

 

4

Other financial assets

Financial assets at fair value through profit and loss
£

Non-current financial assets

Cost or valuation

At 1 July 2023

223,658

Additions

117,255

Disposals

(132,892)

Fair value adjustments

24,236

At 30 June 2024

232,257

The fair value of financial assets measured at fair value through profit and loss account has been determined on the basis of the market price in an active market.

 

5

Debtors

2024
£

2023
£

Receivables from related parties

36,030

52,138

Other debtors

18,172

18,221

54,202

70,359

 

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

60,595

60,595

Trade creditors

 

2,934

2,856

Taxation and social security

 

-

17,596

Accruals and deferred income

 

2,300

2,200

 

65,829

83,247

 

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

60,595

60,595

 

8

Related party transactions

At 30 June 2024, the company was owed £36,029 by A Bateman in the form of a director's loan account (2023: 52,138). Interest was charged on this amount, and there are no fixed repayment terms.