2023-08-012024-07-312024-07-31false12121858PROPGO 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PROPGO LTD

Registered Number
12121858
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

PROPGO LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

NAYAK, Krisna Christopher

Registered Address

21 Ivygreen Road
Manchester
M21 9FF

Registered Number

12121858 (England and Wales)
PROPGO LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property3320,000593,481
320,000593,481
Current assets
Debtors27,365630
Cash at bank and on hand6333,662
27,9984,292
Creditors amounts falling due within one year4(290,833)(540,692)
Net current assets (liabilities)(262,835)(536,400)
Total assets less current liabilities57,16557,081
Provisions for liabilities5(14,941)(14,941)
Net assets42,22442,140
Capital and reserves
Called up share capital1,1001,100
Other reserves63,69763,697
Profit and loss account(22,573)(22,657)
Shareholders' funds42,22442,140
The financial statements were approved and authorised for issue by the Director on 28 April 2025, and are signed on its behalf by:
NAYAK, Krisna Christopher
Director
Registered Company No. 12121858
PROPGO LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year11
3.Investment property

£
Fair value at 01 August 23593,481
Disposals(273,481)
At 31 July 24320,000
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,4051,325
Bank borrowings and overdrafts166,150335,135
Other creditors121,139203,092
Accrued liabilities and deferred income1,1391,140
Total290,833540,692
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)14,94114,941
Total14,94114,941