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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
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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
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Polytelis Property Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
28,268 
35,335 
Investment property
605,501 
591,033 
633,769 
626,368 
Current assets
Debtors
244,950 
274,250 
Cash at bank and in hand
20,797 
10,001 
265,747 
284,251 
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)
Net assets
42,519 
48,867 
Capital and reserves
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
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Polytelis Property Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Motor vehicles
20% RBM
Fixtures & fittings
20% RBM
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2023
44,680 
At 31 August 2024
44,680 
Depreciation
At 1 September 2023
9,345 
Charge for the year
7,067 
At 31 August 2024
16,412 
Net book value
At 31 August 2024
28,268 
At 31 August 2023
35,335 
5
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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