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REGISTERED NUMBER: 11053180 (England and Wales)




















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: T R Coldman





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 11053180 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
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 30,623 600
Investment property 6 1,480,755 1,125,704
1,511,378 1,126,304

CURRENT ASSETS
Debtors 7 67,003 44,344
Cash at bank 6,780 42,780
73,783 87,124
CREDITORS
Amounts falling due within one year 8 (1,135,563 ) (856,313 )
NET CURRENT LIABILITIES (1,061,780 ) (769,189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

449,598

357,115

CREDITORS
Amounts falling due after more than one
year

9

(456,148

)

(370,845

)

PROVISIONS FOR LIABILITIES (24,196 ) (11,222 )
NET LIABILITIES (30,746 ) (24,952 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (30,846 ) (25,052 )
SHAREHOLDERS' FUNDS (30,746 ) (24,952 )

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

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

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 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 director and authorised for issue on 3 April 2025 and were signed by:





T R Coldman - Director


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 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 as modified by the revaluation of certain assets.

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.

Business knowhow are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - Straight line over 3 years

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 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2023
and 30 November 2024 19,323
AMORTISATION
At 1 December 2023
and 30 November 2024 19,323
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 5,988 1,013 7,001
Additions 38,360 2,180 40,540
Disposals (4,942 ) - (4,942 )
At 30 November 2024 39,406 3,193 42,599
DEPRECIATION
At 1 December 2023 5,388 1,013 6,401
Charge for year 9,790 727 10,517
Eliminated on disposal (4,942 ) - (4,942 )
At 30 November 2024 10,236 1,740 11,976
NET BOOK VALUE
At 30 November 2024 29,170 1,453 30,623
At 30 November 2023 600 - 600

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 1,125,704
Additions 304,609
Revaluations 50,442
At 30 November 2024 1,480,755
NET BOOK VALUE
At 30 November 2024 1,480,755
At 30 November 2023 1,125,704

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 67,003 44,344

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 1,950 -
Other creditors 1,133,613 856,313
1,135,563 856,313

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Other creditors 456,148 370,845

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 456,148 370,845

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: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 December 2023 (25,052 )
Deficit for the year (5,794 )
At 30 November 2024 (30,846 )

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.