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Registered Number: 08660834
England and Wales

 

 

 

PROPELLER VENTURES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Directors James Long
Adam Long
Registered Number 08660834
Registered Office 515 Pensby Road
Thingwall
Wirral
CH61 7UQ
Accountants Woods Squared Limited
The Old School
188 Liscard Road
Wallasey
Wirral
CH44 5TN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 July 2024.
Principal activities
The principal activity of the company during the financial year was that of property management.
Directors
The directors who served the company throughout the year were as follows:
James Long
Adam Long
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
James Long
Director

Date approved: 26 April 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 76,267    33,989 
76,267    33,989 
Current assets      
Debtors: amounts falling due within one year 4 337,596    304,319 
Cash at bank and in hand 880,669    834,888 
1,218,265    1,139,207 
Creditors: amount falling due within one year 5 (918,025)   (937,160)
Net current assets 300,240    202,047 
 
Total assets less current liabilities 376,507    236,036 
Creditors: amount falling due after more than one year 6 (42,134)   (19,167)
Provisions for liabilities 7 (18,615)   (8,017)
Net assets 315,758    208,852 
 

Capital and reserves
     
Called up share capital 10,000    10,000 
Profit and loss account 305,758    198,852 
Shareholders' funds 315,758    208,852 
 


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

Directors' 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 directors acknowledge 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 financial statements were approved by the board of directors on 26 April 2025 and were signed on its behalf by:


-------------------------------
James Long
Director
3
General Information
Propeller Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 08660834, registration address 515 Pensby Road, Thingwall, Wirral, CH61 7UQ.

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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Plant and Machinery 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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 13 (2023 : 9).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 August 2023 52,808    17,900    70,708 
Additions 11,743    48,911    60,654 
Disposals    
At 31 July 2024 64,551    66,811    131,362 
Depreciation
At 01 August 2023 28,888    7,831    36,719 
Charge for year 11,820    6,556    18,376 
On disposals    
At 31 July 2024 40,708    14,387    55,095 
Net book values
Closing balance as at 31 July 2024 23,843    52,424    76,267 
Opening balance as at 01 August 2023 23,920    10,069    33,989 

The net book value of Motor Vehicles includes £ 40,245 in respect of assets leased under finance leases or hire purchase contracts.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 337,596    304,319 
337,596    304,319 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   1 
Bank Loans & Overdrafts 17,612    10,000 
Taxation and Social Security 168,638    69,680 
Other Creditors 731,775    857,479 
918,025    937,160 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 42,134    19,167 
42,134    19,167 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 18,615    8,017 
18,615    8,017 

4