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Registration number: 15253065

Property 323 Limited

Unaudited Filleted Financial Statements

for the Period from 1 November 2023 to 30 November 2024

 

Property 323 Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Property 323 Limited

(Registration number: 15253065)
Balance Sheet as at 30 November 2024

Note

2024
£

Current assets

 

Stocks

185,323

Cash at bank and in hand

 

195

 

185,518

Creditors: Amounts falling due within one year

4

(188,598)

Net liabilities

 

(3,080)

Capital and reserves

 

Called up share capital

100

Retained earnings

(3,180)

Shareholders' deficit

 

(3,080)

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................
J Gardner
Director

 

Property 323 Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
66 Balmoral Road
Borrowash
Derby
DE72 3FZ

These financial statements were authorised for issue by the Board on 22 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company had negative reserves of £3,180, the directors have confirmed they will not call in their loans in the next 12 months and will continue to provide financial support to the company.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

 

Property 323 Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 30 November 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Property 323 Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 30 November 2024

4

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

1,074

Other creditors

187,524

188,598

5

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

The total due to the directors at 30th November 2024 was £115,524.

6

Non adjusting events after the financial period

There were no material events up to the date of approval of the financial statements as approved by the board,