PW Property Management Ltd 12799228 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Renting owned properties Digita Accounts Production Advanced 6.30.9574.0 true 12799228 2023-09-01 2024-08-31 12799228 2024-08-31 12799228 core:CurrentFinancialInstruments 2024-08-31 12799228 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12799228 core:Non-currentFinancialInstruments 2024-08-31 12799228 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 12799228 core:LandBuildings 2024-08-31 12799228 core:OtherPropertyPlantEquipment 2024-08-31 12799228 bus:SmallEntities 2023-09-01 2024-08-31 12799228 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12799228 bus:FilletedAccounts 2023-09-01 2024-08-31 12799228 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12799228 bus:RegisteredOffice 2023-09-01 2024-08-31 12799228 bus:Director1 2023-09-01 2024-08-31 12799228 bus:Director2 2023-09-01 2024-08-31 12799228 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12799228 bus:Agent1 2023-09-01 2024-08-31 12799228 core:LandBuildings 2023-09-01 2024-08-31 12799228 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 12799228 core:PlantMachinery 2023-09-01 2024-08-31 12799228 countries:UnitedKingdom 2023-09-01 2024-08-31 12799228 2023-08-31 12799228 core:LandBuildings 2023-08-31 12799228 core:OtherPropertyPlantEquipment 2023-08-31 12799228 2022-09-01 2023-08-31 12799228 2023-08-31 12799228 core:CurrentFinancialInstruments 2023-08-31 12799228 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12799228 core:Non-currentFinancialInstruments 2023-08-31 12799228 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 12799228 core:LandBuildings 2023-08-31 12799228 core:OtherPropertyPlantEquipment 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 12799228

PW Property Management Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

PW Property Management Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

PW Property Management Ltd

Company Information

Directors




 

R P Walker

S F Parsons

Registered office








 

56 Southridge Rise
Crowborough
TN6 1LQ

Accountants

A S Partnership Ltd
Chartered Certified Accountants158 Stafford Road
Wallington
Surrey
SM6 9BS

 

PW Property Management Ltd

(Registration number: 12799228)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

           

Fixed Assets

   

 

Tangible Assets

4

 

194,317

 

194,609

Current assets

   

 

Debtors

5

883

 

795

 

Cash at bank and in hand

 

6,549

 

10,860

 

 

7,432

 

11,655

 

Creditors: Amounts falling due within one year

6

(56,501)

 

(66,060)

 

Net current liabilities

   

(49,069)

 

(54,405)

Total assets less current liabilities

   

145,248

 

140,204

Creditors: Amounts falling due after more than one year

6

 

(139,966)

 

(139,966)

Net assets

   

5,282

 

238

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Retained earnings

5,182

 

138

 

Shareholders' funds

   

5,282

 

238

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

As permitted by s444A and s444(5A) of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the directors report, profit and loss account and associated notes.

 

PW Property Management Ltd

(Registration number: 12799228)
Balance Sheet as at 31 August 2024

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 17 April 2025 and signed on its behalf by:
 

.........................................
R P Walker
Director

 

PW Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
56 Southridge Rise
Crowborough
TN6 1LQ
United Kingdom

These financial statements were authorised for issue by the Board on 17 April 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

PW Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

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.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

PW Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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 subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

PW Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible Assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

193,580

2,042

195,622

Additions

(34)

-

(34)

At 31 August 2024

193,546

2,042

195,588

Depreciation

At 1 September 2023

-

1,013

1,013

Charge for the year

-

258

258

At 31 August 2024

-

1,271

1,271

Carrying amount

At 31 August 2024

193,546

771

194,317

At 31 August 2023

193,580

1,029

194,609

Included within the net book value of land and buildings above is £193,546 (2023 - £193,580) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Prepayments

883

795

883

795

 

PW Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors' loan accounts

 

54,306

64,444

Deferred income

 

681

1,085

Accruals

 

270

252

Corporation tax control

1,244

279

 

56,501

66,060

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

139,966

139,966

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

139,966

139,966

Above includes loans secured on let properties maturing in 2042-2046

 

PW Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Dividends

Interim dividends paid

 

2024
£

2023
£

Interim dividend

-

-