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REGISTERED NUMBER: SC634838 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Properlee Ltd

Properlee Ltd (Registered number: SC634838)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

Properlee Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: K Lee
Mrs K Lee





REGISTERED OFFICE: 29 Lawrence Avenue
Giffnock
Glasgow
G46 6PF





REGISTERED NUMBER: SC634838 (Scotland)





ACCOUNTANTS: Goddard Accounting and Tax Solutions
Ben Loyal Lodge
25 Kenilworth Road
Bridge Of Allan
Stirling
FK9 4EH

Properlee Ltd (Registered number: SC634838)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,242 176,314

CURRENT ASSETS
Cash at bank 827 7,546

CREDITORS
Amounts falling due within one year 5 111,914 117,217
NET CURRENT LIABILITIES (111,087 ) (109,671 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,155

66,643

CREDITORS
Amounts falling due after more than one
year

6

87,538

87,525
NET LIABILITIES (37,383 ) (20,882 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (37,393 ) (20,892 )
(37,383 ) (20,882 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:



Mrs K Lee - Director


Properlee Ltd (Registered number: SC634838)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Properlee Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 etc - 20% on cost

Taxation
Taxation for the year comprises current 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 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.

Other operating income
Other Operating Income represents long term let rents received from company owned residential property.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 120,959 77,375 198,334
DEPRECIATION
At 1 August 2023 - 22,020 22,020
Charge for year - 15,072 15,072
At 31 July 2024 - 37,092 37,092
NET BOOK VALUE
At 31 July 2024 120,959 40,283 161,242
At 31 July 2023 120,959 55,355 176,314

Properlee Ltd (Registered number: SC634838)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other creditors 111,914 117,217

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 87,538 87,525

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 87,538 87,525

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the directors, £110,986 (2023 - £116,306). No interest was paid in respect of this loan, which is unsecured, repayable on demand and included in other creditors within one year.

8. SECURED DEBTS

The bank loan of £87,538 included within creditors is a standard mortgage.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Properlee Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Properlee Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Properlee Ltd, as a body, in accordance with the terms of our engagement letter dated 15 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Properlee Ltd and state those matters that we have agreed to state to the Board of Directors of Properlee Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Properlee Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Properlee Ltd. You consider that Properlee Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Properlee Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goddard Accounting and Tax Solutions
Ben Loyal Lodge
25 Kenilworth Road
Bridge Of Allan
Stirling
FK9 4EH


28 April 2025