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REGISTERED NUMBER: 11584504 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024

FOR

PROPCO PROPERTY LIMITED

PROPCO PROPERTY LIMITED (REGISTERED NUMBER: 11584504)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROPCO PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S D Miller
C R Miller





REGISTERED OFFICE: 10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA





REGISTERED NUMBER: 11584504 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

PROPCO PROPERTY LIMITED (REGISTERED NUMBER: 11584504)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 5 2,500,750 2,500,750

CURRENT ASSETS
Debtors 6 165,700 24,319
Cash at bank 109,354 39,799
275,054 64,118
CREDITORS
Amounts falling due within one year 7 (135,725 ) (85,084 )
NET CURRENT ASSETS/(LIABILITIES) 139,329 (20,966 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,640,079 2,479,784

PROVISIONS FOR LIABILITIES 8 (229,984 ) (229,984 )
NET ASSETS 2,410,095 2,249,800

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,409,995 2,249,700
SHAREHOLDERS' FUNDS 2,410,095 2,249,800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROPCO PROPERTY LIMITED (REGISTERED NUMBER: 11584504)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:





S D Miller - Director


PROPCO PROPERTY LIMITED (REGISTERED NUMBER: 11584504)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Propco Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements

Significant judgements and estimates
The directors have considered the fair value of the investment property at the balance sheet as required by FRS 102. All investment properties are measured at fair value and are adjusted if necessary for any material variation in fair value having considered the difference in nature, location or condition of the specific asset.

Current economic developments and uncertainties influence the valuation of our investment property.The methods and significant assumptions considered in determining the fair value of our investment property are mainly due to (i) active market prices, (ii) the influence of vacancy rates, (iii) assumed trends in rents.

The valuation is based on fair value, supported by market evidence in which assets can be exchanged between a knowledgeable willing buyer and a knowledgeable willing seller.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is measured at fair value. Any change in fair value is recognised in profit and loss account. Costs incurred on the redevelopment of the property are included as part of the asset cost.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PROPCO PROPERTY LIMITED (REGISTERED NUMBER: 11584504)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of material timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 2,500,750
NET BOOK VALUE
At 30 September 2024 2,500,750
At 30 September 2023 2,500,750

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 919,937
Cost 1,580,813
2,500,750

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,580,063 1,580,063

Investment property was valued on fair value basis on 30 September 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 165,700 24,319

PROPCO PROPERTY LIMITED (REGISTERED NUMBER: 11584504)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,500 1,500
Taxation and social security 60,238 34,598
Other creditors 67,987 48,986
135,725 85,084

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 229,984 229,984

Deferred
tax
£   
Balance at 1 October 2023 229,984
Change in investment property
fair value
Balance at 30 September 2024 229,984

Deferred tax is recognised in respect of the excess of capital allowances over depreciation.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

10. RELATED PARTY DISCLOSURES

During the year under review the company incurred management fees of £66,000 (2023: nil). from a company under common control of the directors. This balance is disclosed within other creditors (2023:nil).

The company raised a management fee of £165,600 to a company under the common control of the directors.The amount due to the company at the balance sheet date is £165,600 (2023: nil) and is recorded within other debtors.