Company registration number 11223293 (England and Wales)
PROPERTY AID SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PROPERTY AID SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PROPERTY AID SERVICES LIMITED (REGISTERED NUMBER: 11223293)
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,870
3,827
Investment property
4
378,000
374,088
380,870
377,915
Current assets
Debtors
5
150,450
100,000
Cash at bank and in hand
4,243
975
154,693
100,975
Creditors: amounts falling due within one year
6
(237,069)
(210,799)
Net current liabilities
(82,376)
(109,824)
Total assets less current liabilities
298,494
268,091
Creditors: amounts falling due after more than one year
7
(281,251)
(255,751)
Provisions for liabilities
(4,522)
(2,478)
Net assets
12,721
9,862
Capital and reserves
Called up share capital
1
1
Non-distributable profits reserve
33,541
30,886
Distributable profit and loss reserves
(20,821)
(21,025)
Total equity
12,721
9,862

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

PROPERTY AID SERVICES LIMITED (REGISTERED NUMBER: 11223293)
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 June 2025
Mr A Sworn
Director
PROPERTY AID SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Property Aid Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50 Huntingdon Close, Mitcham, Surrey, CR4 2XJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rental income received during the year.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PROPERTY AID SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
7,085
994
8,079
Depreciation and impairment
At 1 November 2023
4,086
166
4,252
Depreciation charged in the year
750
207
957
At 31 October 2024
4,836
373
5,209
Carrying amount
At 31 October 2024
2,249
621
2,870
At 31 October 2023
2,999
828
3,827
4
Investment property
2024
£
Fair value
At 1 November 2023
374,088
Revaluations
3,912
At 31 October 2024
378,000
PROPERTY AID SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
4
Investment property
(Continued)
- 5 -

Investment property comprises properties at a fair value of £378,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors best estimate. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
150,450
-
0
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
-
0
100,000
Total debtors
150,450
100,000
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
237,069
210,799
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
281,251
255,751

The bank loans are secured against the properties in the company's name by way of a fixed and floating charge.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
281,251
255,751
PROPERTY AID SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
8
Related party transactions

At the year end, included within other creditors is a balance of £39,814 (2023: £41,014 ) owed to a company under common control.

 

At the year end, included within other debtors is a balance of £50,450 (2023: NIL ) owed to a company under common control.

 

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