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Registered number: 02353508
Property Restoration & Clearance Services Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Grant Pearcy
Company Number 02353508
Registered Office 4 Church Gardens
Mansfield Woodhouse
Nottinghamshire
NG19 9JF
Accountants Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Page 1
Page 2
Statement of Financial Position
Registered number: 02353508
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 301,092 301,617
301,092 301,617
CURRENT ASSETS
Cash at bank and in hand 116 92
116 92
Creditors: Amounts Falling Due Within One Year 5 (85,206 ) (84,293 )
NET CURRENT ASSETS (LIABILITIES) (85,090 ) (84,201 )
TOTAL ASSETS LESS CURRENT LIABILITIES 216,002 217,416
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,422 ) (29,422 )
NET ASSETS 186,580 187,994
CAPITAL AND RESERVES
Called up share capital 6 100 100
Fair value reserve 7 181,358 181,358
Income Statement 5,122 6,536
SHAREHOLDERS' FUNDS 186,580 187,994
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For the year ending 31 March 2025 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 Income Statement.
On behalf of the board
Mr Grant Pearcy
Director
29/04/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Property Restoration & Clearance Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 02353508 . The registered office is 4 Church Gardens, Mansfield Woodhouse, Nottinghamshire, NG19 9JF.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. 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:
Freehold No depriciation
Plant & Machinery 15% reducing balance
Fixtures & Fittings 15% reducing balance
Investment Property was valued by the directors at the reporting date.
2.3. Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. 
Investment property is revalued to its fair value at each reporting date and any changes in fair value are shown in the profit and loss and transferred to a fair value reserve.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
2.5. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2024 300,000 21,801 2,136 323,937
As at 31 March 2025 300,000 21,801 2,136 323,937
Depreciation
As at 1 April 2024 - 20,413 1,907 22,320
Provided during the period - 296 229 525
As at 31 March 2025 - 20,709 2,136 22,845
Net Book Value
As at 31 March 2025 300,000 1,092 - 301,092
As at 1 April 2024 300,000 1,388 229 301,617
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 76,101
Accumulated depreciation and impairment 4,566
Carrying amount 71,535
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 85,206 84,293
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
7. Reserves
Fair Value Reserve
£
As at 1 April 2024 181,358
As at 31 March 2025 181,358
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8. Directors Advances, Credits and Guarantees
At the balance sheet date, the directors were owed £84,486 (2024: £83,573) by the company.
Page 6