REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2024 TO 28 OCTOBER 2024 |
FOR |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2024 TO 28 OCTOBER 2024 |
FOR |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED (REGISTERED NUMBER: 11293902) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 May 2024 to 28 October 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED |
COMPANY INFORMATION |
For The Period 1 May 2024 to 28 October 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED (REGISTERED NUMBER: 11293902) |
ABRIDGED BALANCE SHEET |
28 October 2024 |
2024 | 2024 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
The directors acknowledge their 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. |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED (REGISTERED NUMBER: 11293902) |
ABRIDGED BALANCE SHEET - continued |
28 October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED (REGISTERED NUMBER: 11293902) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 May 2024 to 28 October 2024 |
1. | STATUTORY INFORMATION |
Propitas Building & Project Consultants Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover represents sales of property consultancy and project management services, excluding value added tax, performed during the year. |
Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
Goodwill |
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 |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Leasehold improvements | - | 20% on cost |
Motor vehicles | - | 25% on cost |
Fixtures and fittings | - | 25% on cost |
Computer equipment | - | 33.33% on cost |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current and deferred tax assets and liabilities are not discounted and are 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. |
Hire purchase and leasing commitments |
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. Payments are apportioned between the finance charge and the capital amount and the related obligations, net of future finance charges, are included in creditors. |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED (REGISTERED NUMBER: 11293902) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 May 2024 to 28 October 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate. |
Company contributions payable to the directors' private pension schemes are charged to the profit and loss account in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2024 |
and 28 October 2024 |
AMORTISATION |
At 1 May 2024 |
Amortisation for period |
At 28 October 2024 |
NET BOOK VALUE |
At 28 October 2024 |
At 30 April 2024 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2024 |
Additions |
Disposals | ( |
) |
At 28 October 2024 |
DEPRECIATION |
At 1 May 2024 |
Charge for period |
Eliminated on disposal | ( |
) |
At 28 October 2024 |
NET BOOK VALUE |
At 28 October 2024 |
At 30 April 2024 |
PROPITAS BUILDING & PROJECT CONSULTANTS |
LIMITED (REGISTERED NUMBER: 11293902) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 May 2024 to 28 October 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 May 2024 |
and 28 October 2024 | 58,990 |
DEPRECIATION |
At 1 May 2024 |
and 28 October 2024 | 37,459 |
NET BOOK VALUE |
At 28 October 2024 | 21,531 |
At 30 April 2024 | 21,531 |
6. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2024 |
£ | £ |
Cost b/f | 4,908 | 4,908 |
Disposals | (4,908 | ) | - |
- | 4,908 |
7. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2024 |
£ | £ |
Net obligations repayable: |
Within one year |
Non-cancellable operating | leases |
2024 | 2024 |
£ | £ |
Within one year |
Between one and five years |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 28 October 2024, the company had loaned the directors £53,250. This was the maximum amount owed during the year and is repayable on demand, no interest was charged on the loan. This amount was repaid in full on 29 October 2024. |