Registered number
12488200
Propeti Ltd
Filleted Accounts
28 February 2025
Propeti Ltd
Registered number: 12488200
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 771,130 357,308
Current assets
Debtors 4 2 2
Cash at bank and in hand 1,703 647
1,705 649
Creditors: amounts falling due within one year 5 (211,317) (98,499)
Net current liabilities (209,612) (97,850)
Total assets less current liabilities 561,518 259,458
Creditors: amounts falling due after more than one year 6 (547,750) (243,750)
Net assets 13,768 15,708
Capital and reserves
Called up share capital 2 2
Profit and loss account 13,766 15,706
Shareholders' funds 13,768 15,708
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Pennington
Director
Approved by the board on 9 April 2025
Propeti Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable as rental income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Plant and machinery 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2024 357,308 3,709 361,017
Additions 409,183 6,958 416,141
At 28 February 2025 766,491 10,667 777,158
Depreciation
At 1 March 2024 - 3,709 3,709
Charge for the year - 2,319 2,319
At 28 February 2025 - 6,028 6,028
Net book value
At 28 February 2025 766,491 4,639 771,130
At 29 February 2024 357,308 - 357,308
4 Debtors 2025 2024
£ £
Other debtors 2 2
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs - 1,730
Other creditors 211,317 96,769
211,317 98,499
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 547,750 243,750
7 Other information
Propeti Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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