Company registration number 15495798 (England and Wales)
PROPERTY BLOK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
PROPERTY BLOK LTD
COMPANY INFORMATION
Directors
Mr D Philippou
(Appointed 16 February 2024)
Miss S J Lindsay
(Appointed 3 August 2024)
Company number
15495798
Registered office
91 Tyelands
Billericay
Essex
CM12 9PB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Tide Platform Ltd
The Featherstone Building
66 City Road
London
EC1Y 2AL
PROPERTY BLOK LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
PROPERTY BLOK LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PROPERTY BLOK LTD FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Property Blok Ltd for the period ended 28 February 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Property Blok Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Property Blok Ltd and state those matters that we have agreed to state to the board of directors of Property Blok Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property Blok Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Property Blok Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Property Blok Ltd. You consider that Property Blok Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Property Blok Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
10 April 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
PROPERTY BLOK LTD
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
2025
Notes
£
£
Fixed assets
Tangible assets
3
572
Investment property
4
82,158
82,730
Current assets
Debtors
5
1,280
Cash at bank and in hand
882
2,162
Creditors: amounts falling due within one year
6
(89,228)
Net current liabilities
(87,066)
Net liabilities
(4,336)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(4,436)
Total equity
(4,336)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
Director
Company registration number 15495798 (England and Wales)
PROPERTY BLOK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

Property Blok Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 91 Tyelands, Billericay, Essex, CM12 9PB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on cost
Computer equipment
33% on cost
1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PROPERTY BLOK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Number
Total
2
PROPERTY BLOK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 16 February 2024
-
0
-
0
-
0
Additions
631
148
779
At 28 February 2025
631
148
779
Depreciation and impairment
At 16 February 2024
-
0
-
0
-
0
Depreciation charged in the period
158
49
207
At 28 February 2025
158
49
207
Carrying amount
At 28 February 2025
473
99
572
4
Investment property
2025
£
Fair value
At 16 February 2024
-
0
Additions
82,158
At 28 February 2025
82,158

The directors have assessed the fair value of the investment property at the period end and consider that there has been no significant change to the value as disclosed in the financial statements.

5
Debtors
2025
Amounts falling due within one year:
£
Other debtors
254
Deferred tax asset
1,026
1,280
6
Creditors: amounts falling due within one year
2025
£
Other creditors
89,228
PROPERTY BLOK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 6 -
7
Called up share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
100
100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

8
Ultimate controlling party

The ultimate controlling party is Mr D Philippou.

9
Comparatives

This is the company's first period of trade, therefore there are no comparatives.

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