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Registered number: 15030693
Property Partners Estate Agents Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 July 2024
HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
Contents
Page
Abridged Balance Sheet 1
Notes to the Abridged Financial Statements 2
Page 1
Abridged Balance Sheet
Registered number: 15030693
2024
Notes £ £
CURRENT ASSETS
Debtors 8,653
Cash at bank and in hand 12,594
21,247
Creditors: Amounts Falling Due Within One Year (27,090 )
NET CURRENT ASSETS (LIABILITIES) (5,843 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,843 )
NET LIABILITIES (5,843 )
CAPITAL AND RESERVES
Called up share capital 4 100
Profit and Loss Account (5,943 )
SHAREHOLDERS' FUNDS (5,843)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 July 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr M D Bruce
Director
25 April 2025
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Abridged Financial Statements
1. General Information
Property Partners Estate Agents Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15030693 . The registered office is 21 Glas-Y-Pant, Cardiff, CF14 7DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company balance sheet is showing negative reserves in its first accounting period. The director expected this to be the case whilst the company is in its infancy and still establishing itself in the marketplace. The director will not withdraw his financial support for the company over the next twelve months, and belives the company's debts can be paid as they fall due. For this reason the accounts are prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
4. Share Capital
2024
£
Allotted, Called up and fully paid 100
During the period the company allotted 100 ordinary shares of £1 each for an aggregate consideration of £100.
5. Related Party Transactions
During the period the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the company owed the director £2,462.
Also during the period the company received unsecured, interest free, repayable on demand loans from close family members of the director. At the balance sheet date the amount owed to close family members of the director was £4,950.
Page 2