Company Registration No. 10892485 (England and Wales)
Polytelis Property Limited
Unaudited accounts
for the year ended 31 August 2024
Polytelis Property Limited
Unaudited accounts
Contents
Polytelis Property Limited
Company Information
for the year ended 31 August 2024
Directors
Mihir Shah
Chetan Shah
Bhavini Shah
Rachana Shah
Company Number
10892485 (England and Wales)
Registered Office
37 Ryknield Road
Hucknall
Nottingham
Nottinghamshire
NG15 8GN
England
Polytelis Property Limited
Statement of financial position
as at 31 August 2024
Tangible assets
28,268
35,335
Investment property
605,501
591,033
Cash at bank and in hand
20,797
10,001
Creditors: amounts falling due within one year
(17,026)
(27,569)
Net current assets
248,721
256,682
Total assets less current liabilities
882,490
883,050
Creditors: amounts falling due after more than one year
(830,820)
(825,032)
Provisions for liabilities
Deferred tax
(9,151)
(9,151)
Called up share capital
1,000
1,000
Profit and loss account
41,519
47,867
Shareholders' funds
42,519
48,867
For the year ending 31 August 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by
Mihir Shah
Director
Company Registration No. 10892485
Polytelis Property Limited
Notes to the Accounts
for the year ended 31 August 2024
Polytelis Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10892485. The registered office is 37 Ryknield Road, Hucknall , Nottingham, Nottinghamshire, NG15 8GN, 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.
These financial statements for the year ended 31 August 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% RBM
4
Tangible fixed assets
Total
At 1 September 2023
44,680
5
Average number of employees
During the year the average number of employees was 2 (2023: 2).