REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 November 2024 |
for |
PROUD HOUSE PROPERTIES LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 November 2024 |
for |
PROUD HOUSE PROPERTIES LTD |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PROUD HOUSE PROPERTIES LTD |
Company Information |
for the Year Ended 30 November 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
143 Station Road |
Hampton |
Middlesex |
TW12 2AL |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Balance Sheet |
30 November 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Balance Sheet - continued |
30 November 2024 |
The financial statements were approved by the director and authorised for issue on |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
Proud House Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 December 2023 |
and 30 November 2024 |
AMORTISATION |
At 1 December 2023 |
and 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2023 |
Additions |
Revaluations |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Fair value at 30 November 2024 is represented by: |
£ |
Valuation in 2023 | 44,888 |
Valuation in 2024 | 50,442 |
Cost | 1,385,425 |
1,480,755 |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Trade creditors |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 456,148 | 370,845 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.24 | 30.11.23 |
£ | £ |
Other loans |
The mortgages provided by Together Commercial Finance Limited are secured against the freehold interest in the properties known as 2 Prospect Terrace, 63 August Road and 9 Union Road by way of a fixed and floating charge and a negative pledge. |
The mortgages provided by Belmont Green Finance Limited Trading as Vida Homeloans are secured against the freehold interest in the property known as 7 Adelaide Raod by way of a fixed charge and negative pledge. |
The mortgage provided by West One Secured Loans Limited are secured agianst the freehold interest in the property known as 36 St Martins Street by way of a fixed charge and negative pledge. |
PROUD HOUSE PROPERTIES LTD (REGISTERED NUMBER: 11053180) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2023 | ( |
) |
Deficit for the year | ( |
) |
At 30 November 2024 | ( |
) |
Included in reserves is an amount of £71,497 which is not distributable, it relates to the revaluation of the property less the deferred tax. |
13. | GOING CONCERN |
The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements. |