Caseware UK (AP4) 2024.0.164 2024.0.164 true2023-10-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10973197 2023-10-01 2024-09-30 10973197 2022-10-01 2023-09-30 10973197 2024-09-30 10973197 2023-09-30 10973197 c:Director1 2023-10-01 2024-09-30 10973197 c:Director2 2023-10-01 2024-09-30 10973197 d:MotorVehicles 2023-10-01 2024-09-30 10973197 d:MotorVehicles 2024-09-30 10973197 d:MotorVehicles 2023-09-30 10973197 d:OfficeEquipment 2023-10-01 2024-09-30 10973197 d:OfficeEquipment 2024-09-30 10973197 d:OfficeEquipment 2023-09-30 10973197 d:CurrentFinancialInstruments 2024-09-30 10973197 d:CurrentFinancialInstruments 2023-09-30 10973197 d:Non-currentFinancialInstruments 2024-09-30 10973197 d:Non-currentFinancialInstruments 2023-09-30 10973197 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10973197 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10973197 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 10973197 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 10973197 d:ShareCapital 2024-09-30 10973197 d:ShareCapital 2023-09-30 10973197 d:RetainedEarningsAccumulatedLosses 2024-09-30 10973197 d:RetainedEarningsAccumulatedLosses 2023-09-30 10973197 c:FRS102 2023-10-01 2024-09-30 10973197 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10973197 c:FullAccounts 2023-10-01 2024-09-30 10973197 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10973197 2 2023-10-01 2024-09-30 10973197 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 10973197









THE PROPERTY I C LIMITED







Unaudited

Financial statements

Information for filing with the registrar

for the year ended 30 September 2024

 
THE PROPERTY I C LIMITED
Registered number: 10973197

Balance sheet
as at 30 September 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
25,939
25,561

Cash at bank and in hand
 6 
8,613
5,000

  
34,552
30,561

Creditors: amounts falling due within one year
 7 
(59,060)
(42,278)

Net current liabilities
  
 
 
(24,508)
 
 
(11,717)

Total assets less current liabilities
  
(24,508)
(11,717)

Creditors: amounts falling due after more than one year
 8 
(8,237)
(17,500)

  

Net liabilities
  
(32,745)
(29,217)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(32,845)
(29,317)

  
(32,745)
(29,217)


Page 1

 
THE PROPERTY I C LIMITED
Registered number: 10973197
    
Balance sheet (continued)
as at 30 September 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr A Chohan
Mr D Strettle
Director
Director


Date: 12 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE PROPERTY I C LIMITED
 
 
 
Notes to the financial statements
for the year ended 30 September 2024

1.


General information

The Property I C Limited (company number 10973197) is a private company limited by shares registered in England and Wales. Its registered office is at 31a Hale Road, Altrincham, WA14 2EY. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THE PROPERTY I C LIMITED
 
 
 
Notes to the financial statements
for the year ended 30 September 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Straight Line
Office equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
THE PROPERTY I C LIMITED
 
 
 
Notes to the financial statements
for the year ended 30 September 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
22,908
231
23,139



At 30 September 2024

22,908
231
23,139



Depreciation


At 1 October 2023
22,908
231
23,139



At 30 September 2024

22,908
231
23,139



Net book value



At 30 September 2024
-
-
-



At 30 September 2023
-
-
-


5.


Debtors

2024
2023
£
£


Other debtors
25,939
25,561

25,939
25,561



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,613
5,000

8,613
5,000


Page 5

 
THE PROPERTY I C LIMITED
 
 
 
Notes to the financial statements
for the year ended 30 September 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
913
114

Other taxation and social security
3,867
4,026

Obligations under finance lease and hire purchase contracts
-
3,858

Other creditors
44,280
24,280

59,060
42,278



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,237
17,500

8,237
17,500


Included in bank loans after more than one year is an unsecured bounce back loan. Interest is charged at the rate of 2.5% per annum and is fully backed by the UK government under the BBLS rules.

Page 6

 
THE PROPERTY I C LIMITED
 
 
 
Notes to the financial statements
for the year ended 30 September 2024

9.


Related party transactions

Included within debtors due within one year is a loan to PIC Grove Lane Limited in the amount of £2,000 (2023: £2,000). No interest has been charged in respect of this loan which is repayable on demand. PIC Grove Lane Limited is a company incorporated in England and Wales, which is owned by The PIC Holdings Group Limited, in which the directors own and control.  
Included within creditors due within one year is a loan from The PIC Holdings Group Limited in the amount of £24,280 (2023: £24,280). No interest has been charged in respect of this loan which is repayable on demand. The PIC Holdings Group Limited is a company incorporated in England and Wales, in which the directors own and control.
Included within creditors due within one year is a loan from  PIC Park Road 2 Limited in the amount of £20,000 (2023: £0). No interest has been charged in respect of this loan which is repayable on demand.  PIC Park Road 2 Limited is a company incorporated in England and Wales, which is owned by The PIC Holdings Group Limited, in which the directors own and control.  
Included within debtors due within one year is a loan to PIC Park Road Limited in the amount of £1,364 (2023: £1,364). No interest has been charged in respect of this loan which is repayable on demand. PIC Park Road Limited is a company incorporated in England and Wales, which is owned by The PIC Holdings Group Limited, in which the directors own and control. 
During the year the company received a management charge from PIC Park Road Limited in the amount of £0 (2023: £74,166). 
During the year the company received a management charge from PIC Grove Lane Limited in the amount of £0 (2023: £10,000). 
At 30 September 2024 the company was owed £16,500 (2023: £16,500) from the directors. Interest has been charged to the company in respect of this loan in the amount of £378 (2023: £334). 

 
Page 7