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Registration number: 08455582

Property Surveys Devon Ltd

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Property Surveys Devon Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Property Surveys Devon Ltd

Company Information

Director

Mr Philip Routledge

Company secretary

Mrs Annie Routledge

Mr Philip Routledge

Registered office

61 Highwayman Road
Boroughbridge
York
YO51 9RJ

Accountants

Neil Wilson & Co Chartered Accountant 42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

 

Property Surveys Devon Ltd

(Registration number: 08455582)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

3,161

4,215

Current assets

 

Debtors

5

56,035

53,637

Cash at bank and in hand

 

782

1,417

 

56,817

55,054

Creditors: Amounts falling due within one year

6

(59,650)

(60,718)

Net current liabilities

 

(2,833)

(5,664)

Net assets/(liabilities)

 

328

(1,449)

Reserves

 

Retained earnings

328

(1,449)

Surplus/(deficit)

 

328

(1,449)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 April 2025
 

.........................................
Mr Philip Routledge
Company secretary and director

 

Property Surveys Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
61 Highwayman Road
Boroughbridge
York
YO51 9RJ

The principal place of business is:
61 Highwayman Road
Boroughbridge
York
YO51 9RJ

These financial statements were authorised for issue by the director on 2 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Property Surveys Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Property Surveys Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 3).

 

Property Surveys Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

13,659

13,659

At 31 March 2025

13,659

13,659

Depreciation

At 1 April 2024

9,444

9,444

Charge for the year

1,054

1,054

At 31 March 2025

10,498

10,498

Carrying amount

At 31 March 2025

3,161

3,161

At 31 March 2024

4,215

4,215

5

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

9

56,035

38,420

Other debtors

 

-

15,217

   

56,035

53,637

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

2,508

4,579

Taxation and social security

 

814

462

Accruals and deferred income

 

150

4,247

Other creditors

 

56,178

51,430

 

59,650

60,718

7

Loans and borrowings

Current loans and borrowings

 

Property Surveys Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2025
£

2024
£

Bank borrowings

2,508

4,506

Other borrowings

-

73

2,508

4,579

8

Dividends

9

Related party transactions

Transactions with the director

2025

At 1 April 2024
£

Repayments by director
£

At 31 March 2025
£

Mr Philip Routledge

Director loan

3,180

(3,180)

-

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr Philip Routledge

Director loan

34,229

6,580

(37,629)

3,180

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

12,570

12,570

Contributions paid to money purchase schemes

-

2,600

12,570

15,170

Dividends paid to the director

2025
£

2024
£

Mr Philip Routledge