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Registered Number: 14279544
England and Wales

 

 

 

PROPERTII LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Hazem El-Turk
Registered Number 14279544
Registered Office 104a Petherton Road
London
N5 2RG
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 19,144    6,261 
19,144    6,261 
Current assets      
Debtors 4 4,667    595 
Cash at bank and in hand 65,448    107,711 
70,115    108,306 
Creditors: amount falling due within one year 5 (170,683)   (126,065)
Net current assets (100,568)   (17,759)
 
Total assets less current liabilities (81,424)   (11,498)
Provisions for liabilities 6 17,669    3,244 
Net assets (63,755)   (8,254)
 

Capital and reserves
     
Called up share capital 7 1    1 
Profit and loss account (63,756)   (8,255)
Shareholders' funds (63,755)   (8,254)
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 27 November 2024 and were signed by:


-------------------------------
Hazem El-Turk
Director
2
General Information
Propertii LTD is a private company, limited by shares, registered in England and Wales, registration number 14279544, registration address 104a Petherton Road, London, N5 2RG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value.
Going concern basis
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover represents net invoiced sales or service, excluding value added tax. Turnover is recognised when the company obtains the right to consideration.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 September 2023 7,826    7,826 
Additions 18,891    18,891 
Disposals  
At 31 August 2024 26,717    26,717 
Depreciation
At 01 September 2023 1,565    1,565 
Charge for year 6,008    6,008 
On disposals  
At 31 August 2024 7,573    7,573 
Net book values
Closing balance as at 31 August 2024 19,144    19,144 
Opening balance as at 01 September 2023 6,261    6,261 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 4,667    595 
4,667    595 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,750    404 
Other Creditors 165,933    125,661 
170,683    126,065 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax (17,669)   (3,244)
(17,669)   (3,244)

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

8.

Director’s loan

Director's loan account

Included in creditors is a balance of £133,516 owed to the director, with interest charged at a average rate of 6.63% on this amount.
3