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REGISTERED NUMBER: 04941240 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

THE PROPERTY WAREHOUSE LIMITED

THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


THE PROPERTY WAREHOUSE LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTOR: Mr D Aviram





SECRETARY: Mrs T J Aviram





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 04941240 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)

ABRIDGED BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 663,124
Tangible assets 5 5,387 6,410
Investments 6 649,808 775,142
Investment property 7 5,564,500 2,950,000
6,219,695 4,394,676

CURRENT ASSETS
Debtors 8 7,301,894 8,172,604
Investments 663,124 -
Cash at bank and in hand 889,493 306,241
8,854,511 8,478,845
CREDITORS
Amounts falling due within one year 8,498,660 6,569,994
NET CURRENT ASSETS 355,851 1,908,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,575,546

6,303,527

CREDITORS
Amounts falling due after more than one
year

9

(7,774,552

)

(7,790,412

)

PROVISIONS FOR LIABILITIES (56,232 ) (67,626 )
NET LIABILITIES (1,255,238 ) (1,554,511 )

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 170,572 202,878
Retained earnings (1,425,812 ) (1,757,391 )
SHAREHOLDERS' FUNDS (1,255,238 ) (1,554,511 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)

ABRIDGED BALANCE SHEET - continued
31 July 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





Mr D Aviram - Director


THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023

1. STATUTORY INFORMATION

The Property Warehouse Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared on an estimated basis as there are substantial legal documentation that are outstanding from the solicitors. Once the relevant documentation have been received an amended set of accounts will be filed at Companies House.

The financial statements have been prepared on a going concern basis even though the company's liabilities exceed its assets as the director is of the opinion that the company will be able to continue trading and meet its liabilities as and when due, due to his continuing support.

Unlisted investments
Unlisted investments are recognised at cost less provision for impairment.

Turnover
Turnover comprises rental and service charge income, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

Intangible assets
Intangible assets are initially recognised at cost, including any directly attributable costs. Subsequently, intangible assets are revalued and carried at its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

Any increase of an asset as a result of a revaluation shall be recognised in other comprehensive income and accumulated in equity. However, the increase shall be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. Any decrease of an asset’s carrying amount as a result of a revaluation shall be recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity, in respect of that asset. If a revaluation decrease exceeds the accumulated revaluation gains recognised in equity in respect of that asset, the excess shall be recognised in profit or loss.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. 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.

THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 or deferred taxation assets and liabilities are not discounted.

Current tax is 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 663,124
Disposals (663,124 )
At 31 July 2023 -
NET BOOK VALUE

At 31 July 2023 -
At 31 July 2022 663,124

THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 15,254
DEPRECIATION
At 1 August 2022 8,844
Charge for year 1,023
At 31 July 2023 9,867
NET BOOK VALUE
At 31 July 2023 5,387
At 31 July 2022 6,410

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 August 2022 775,142
Additions 2,357,285
Disposals (2,569,924 )
Revaluations 87,305
At 31 July 2023 649,808
NET BOOK VALUE
At 31 July 2023 649,808
At 31 July 2022 775,142


Investments are initially recognized at cost and subsequently measured at fair value.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 2,950,000
Additions 2,614,500
At 31 July 2023 5,564,500
NET BOOK VALUE
At 31 July 2023 5,564,500
At 31 July 2022 2,950,000

In the opinion of the director, investment property is stated at fair value as at 31 July 2023.


THE PROPERTY WAREHOUSE LIMITED (REGISTERED NUMBER: 04941240)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other debtors 4,265,917 4,105,917

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Bank loan 6,000,000 6,000,000
Mortgages 1,719,158 1,719,158
7,719,158 7,719,158

Repayable by instalments
Bank loan 45,394 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 7,719,158 7,719,158

Bank loans and mortgages are secured by way of fixed and floating charges over the assets held by the company.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £1,612,117 (2022: was owed £140,903) to/(by) the director.

At the balance sheet date, the company owed £1,379,799 (2022: £1,555,357) to Aviram Properties Limited, a company related by virtue of common control.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.