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Registered number: 07730683
Property Ladder Devon Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07730683
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,297 3,509
2,297 3,509
CURRENT ASSETS
Debtors 5 4,181 5,073
Cash at bank and in hand 9,924 34,396
14,105 39,469
Creditors: Amounts Falling Due Within One Year 6 (21,224 ) (10,752 )
NET CURRENT ASSETS (LIABILITIES) (7,119 ) 28,717
TOTAL ASSETS LESS CURRENT LIABILITIES (4,822 ) 32,226
Creditors: Amounts Falling Due After More Than One Year 7 (187,149 ) (170,277 )
NET LIABILITIES (191,971 ) (138,051 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (191,973 ) (138,053 )
SHAREHOLDERS' FUNDS (191,971) (138,051)
Page 1
Page 2
For the year ending 31 December 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.
On behalf of the board
Stephen Baker
Director
21 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Property Ladder Devon Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07730683 . The registered office is 13 Hyde Road, Paignton, Devon, TQ4 5BW.
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. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20.00% Reducing Balance
Computer Equipment 33.33% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 21,734 11,292 33,026
Additions - 1,099 1,099
Disposals (1,098 ) - (1,098 )
As at 31 December 2024 20,636 12,391 33,027
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 January 2024 18,624 10,893 29,517
Provided during the period 402 811 1,213
As at 31 December 2024 19,026 11,704 30,730
Net Book Value
As at 31 December 2024 1,610 687 2,297
As at 1 January 2024 3,110 399 3,509
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,181 5,073
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,537 2,621
Bank loans and overdrafts 6,000 -
Other taxes and social security 397 -
VAT 1,382 2,349
Net wages - 1,693
Other creditors 10,908 4,089
21,224 10,752
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,000 15,000
Other creditors 184,149 155,277
187,149 170,277
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4
Page 5
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 12,600 12,800
12,600 12,800
Page 5