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Registered Number: 11026875
England and Wales

 

 

 

PROPERTY FOR PEOPLE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Property For People Ltd for the year ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Property For People Ltd for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Property For People Ltd, as a body, in accordance with the terms of our engagement letter dated 24 April 2025. Our work has been undertaken solely to prepare for your approval the accounts of Property For People Ltd and state those matters that we have agreed to state to the Board of Directors of Property For People 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 For People Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Property For People Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Property For People Ltd. You consider that Property For People Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Property For People 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 accounts for the period ended
31 October 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
24 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 509,335    494,500 
509,335    494,500 
Current assets      
Debtors 1,581   
Cash at bank and in hand 308    475 
1,889    475 
Creditors: amount falling due within one year (108,745)   (103,450)
Net current assets (106,856)   (102,975)
 
Total assets less current liabilities 402,479    391,525 
Creditors: amount falling due after more than one year (339,598)   (335,528)
Provisions for liabilities (21,381)   (18,563)
Net assets 41,500    37,434 
 

Capital and reserves
     
Called up share capital 4 103    103 
Reserves 5 113,035    98,200 
Profit and loss account (71,638)   (60,869)
Shareholders' funds 41,500    37,434 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 April 2025 and were signed by:


-------------------------------
Stephen Gordon Shellabear
Director
2
General Information
Property For People Ltd is a private company, limited by shares, registered in England and Wales, registration number 11026875, registration address 26 St. Marys Way,, Roade,, Northamptonshire,, NN7 2PQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they 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 of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 November 2023 494,500    494,500 
Additions  
Disposals  
Revaluations 14,835    14,835 
At 31 October 2024 509,335    509,335 
Depreciation
At 01 November 2023  
Charge for year  
On disposals  
At 31 October 2024  
Net book values
Closing balance as at 31 October 2024 509,335    509,335 
Opening balance as at 01 November 2023 494,500    494,500 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
1 Class B share of £1.00 each  
1 Class C share of £1.00 each  
1 Class D share of £1.00 each  
103    103 

3