Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-312024-02-01falseNo description of principal activity1010falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04120227 2024-02-01 2025-01-31 04120227 2023-02-01 2024-01-31 04120227 2025-01-31 04120227 2024-01-31 04120227 c:CompanySecretary1 2024-02-01 2025-01-31 04120227 c:Director1 2024-02-01 2025-01-31 04120227 c:Director2 2024-02-01 2025-01-31 04120227 c:RegisteredOffice 2024-02-01 2025-01-31 04120227 d:PlantMachinery 2024-02-01 2025-01-31 04120227 d:PlantMachinery 2025-01-31 04120227 d:PlantMachinery 2024-01-31 04120227 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 04120227 d:MotorVehicles 2024-02-01 2025-01-31 04120227 d:MotorVehicles 2025-01-31 04120227 d:MotorVehicles 2024-01-31 04120227 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 04120227 d:OfficeEquipment 2024-02-01 2025-01-31 04120227 d:OfficeEquipment 2025-01-31 04120227 d:OfficeEquipment 2024-01-31 04120227 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 04120227 d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 04120227 d:CurrentFinancialInstruments 2025-01-31 04120227 d:CurrentFinancialInstruments 2024-01-31 04120227 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 04120227 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04120227 d:ShareCapital 2025-01-31 04120227 d:ShareCapital 2024-01-31 04120227 d:RetainedEarningsAccumulatedLosses 2025-01-31 04120227 d:RetainedEarningsAccumulatedLosses 2024-01-31 04120227 c:OrdinaryShareClass1 2024-02-01 2025-01-31 04120227 c:OrdinaryShareClass1 2025-01-31 04120227 c:OrdinaryShareClass2 2024-02-01 2025-01-31 04120227 c:OrdinaryShareClass2 2025-01-31 04120227 c:OrdinaryShareClass3 2024-02-01 2025-01-31 04120227 c:OrdinaryShareClass3 2025-01-31 04120227 c:FRS102 2024-02-01 2025-01-31 04120227 c:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 04120227 c:FullAccounts 2024-02-01 2025-01-31 04120227 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 04120227 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-01 2025-01-31 04120227 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2025-01-31 04120227 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-01-31 04120227 2 2024-02-01 2025-01-31 04120227 e:PoundSterling 2024-02-01 2025-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04120227










PROPERTY 1ST (MAINTENANCE) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
COMPANY INFORMATION


Directors
Mr R J Gidney 
Mr N Stratton 




Company secretary
Mrs B Gidney



Registered number
04120227



Registered office
19 Roundtree Close

Norwich

NR7 8SX




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
PROPERTY 1ST (MAINTENANCE) LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 10


 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PROPERTY 1ST (MAINTENANCE) LIMITED
FOR THE YEAR ENDED 31 JANUARY 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Property 1st (Maintenance) Limited for the year ended 31 January 2025 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Property 1st (Maintenance) Limited, as a body, in accordance with the terms of our engagement letter dated 27 August 2024Our work has been undertaken solely to prepare for your approval the financial statements of Property 1st (Maintenance) Limited and state those matters that we have agreed to state to the Board of directors of Property 1st (Maintenance) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property 1st (Maintenance) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Property 1st (Maintenance) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Property 1st (Maintenance) Limited. You consider that Property 1st (Maintenance) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Property 1st (Maintenance) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
 
23 June 2025
Page 1

 
PROPERTY 1ST (MAINTENANCE) LIMITED
REGISTERED NUMBER: 04120227

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,883
35,972

Current assets
  

Stocks
  
11,212
13,722

Debtors: amounts falling due within one year
 5 
122,742
60,488

Cash at bank and in hand
  
181,984
161,770

  
315,938
235,980

Creditors: amounts falling due within one year
 6 
(118,603)
(85,620)

Net current assets
  
 
 
197,335
 
 
150,360

Total assets less current liabilities
  
233,218
186,332

Provisions for liabilities
  

Deferred tax
  
(8,990)
(8,993)

Net assets
  
224,228
177,339


Capital and reserves
  

Called up share capital 
 7 
302
302

Profit and loss account
  
223,926
177,037

  
224,228
177,339


Page 2

 
PROPERTY 1ST (MAINTENANCE) LIMITED
REGISTERED NUMBER: 04120227
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

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 profit and loss account 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 on 23 June 2025.




................................................
Mr R J Gidney
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office, and principal place of business is 19 Roundtree Close, Norwich, Norfolk, NR7 8SX. 
The principal activity of the Company is that of property building, maintenance and repair services, and it's activities are undertaken in Norfolk.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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 4

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that :-
 - The recognition of deferred tax is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Current and deferred tax are determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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 or the reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
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.

Page 5

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Page 6

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Page 7

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.



 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2024 - 10).

Page 8

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2024
27,732
85,986
37,024
150,742


Additions
423
11,750
2,059
14,232


Disposals
-
(5,850)
-
(5,850)



At 31 January 2025

28,155
91,886
39,083
159,124



Depreciation


At 1 February 2024
25,764
58,917
30,089
114,770


Charge for the year on owned assets
925
9,509
3,106
13,540


Disposals
-
(5,069)
-
(5,069)



At 31 January 2025

26,689
63,357
33,195
123,241



Net book value



At 31 January 2025
1,466
28,529
5,888
35,883



At 31 January 2024
1,968
27,069
6,935
35,972


5.


Debtors

2025
2024
£
£


Trade debtors
100,331
42,986

Prepayments and accrued income
22,411
17,502

122,742
60,488


Page 9

 
PROPERTY 1ST (MAINTENANCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
28,176
23,471

Corporation tax
30,660
8,776

Other taxation and social security
38,003
35,406

Other creditors
8,314
4,657

Accruals and deferred income
13,450
13,310

118,603
85,620



7.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



300 Ordinary shares of £1.00 each
300
300
1 Ordinary B share of £1.00
1
1
1 Ordinary C share of £1.00
1
1

302

302



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £893 (2024 - £828) . Contributions totalling £1,346 (2024 - £1,513) were payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions

As at the 31 January 2025, the directors were owed £2,233 (2024: £1,609). The balance is included within other creditors, in note 6 to the financial statements. The loan is interest free and repayable on demand. 

 
Page 10