Company Registration No. 11952803 (England and Wales)
Property Investment Research Centre Limited
Unaudited accounts
for the year ended 31 December 2023
Property Investment Research Centre Limited
Unaudited accounts
Contents
Property Investment Research Centre Limited
Company Information
for the year ended 31 December 2023
Director
Sergey Kazachenko
Company Number
11952803 (England and Wales)
Registered Office
167-169 Great Portland Street
London
W1W 5PF
England
Property Investment Research Centre Limited
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
24,726
687
Creditors: amounts falling due within one year
(654,870)
(638,816)
Net current liabilities
(629,939)
(637,924)
Net liabilities
(629,939)
(637,924)
Called up share capital
100
100
Profit and loss account
(630,039)
(638,024)
Shareholders' funds
(629,939)
(637,924)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 April 2025 and were signed on its behalf by
Sergey Kazachenko
Director
Company Registration No. 11952803
Property Investment Research Centre Limited
Notes to the Accounts
for the year ended 31 December 2023
Property Investment Research Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 11952803. The registered office is 167-169 Great Portland Street, London, W1W 5PF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
During the previous periods, the Company made significant investments in intangible assets, primarily associated with the development and commercialization of a new product line. These investments included expenditures on research and development, intellectual property rights, as well as marketing and branding efforts designed to establish the product in the market.
Unfortunately, despite these investments, the product did not meet the anticipated market demand. After extensive analysis and consideration, it became clear that the product failed to gain traction with consumers, which resulted in underperformance relative to our initial projections. As a result, the Board has made the decision to write off the majority of the associated intangible assets.
This write-off reflects the impairment of certain intellectual property and capitalized development costs that no longer hold recoverable value due to the lack of demand. While the decision to write off these assets is a difficult one, it is in line with the Company’s commitment to ensuring that our financial statements accurately reflect the true value of our assets.
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Other creditors
641,039
638,816
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).