Preedy Property Ltd 15805258 false 2024-06-26 2025-06-30 2025-06-30 The principal activity of the company is residential property rental and development. Digita Accounts Production Advanced 6.30.9574.0 true true 15805258 2024-06-26 2025-06-30 15805258 2025-06-30 15805258 core:CurrentFinancialInstruments 2025-06-30 15805258 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 15805258 bus:SmallEntities 2024-06-26 2025-06-30 15805258 bus:AuditExemptWithAccountantsReport 2024-06-26 2025-06-30 15805258 bus:FilletedAccounts 2024-06-26 2025-06-30 15805258 bus:SmallCompaniesRegimeForAccounts 2024-06-26 2025-06-30 15805258 bus:RegisteredOffice 2024-06-26 2025-06-30 15805258 bus:Director1 2024-06-26 2025-06-30 15805258 bus:Director2 2024-06-26 2025-06-30 15805258 bus:PrivateLimitedCompanyLtd 2024-06-26 2025-06-30 15805258 countries:EnglandWales 2024-06-26 2025-06-30 iso4217:GBP xbrli:pure

Registration number: 15805258

Preedy Property Ltd

Unaudited Filleted Financial Statements

for the Period from 26 June 2024 to 30 June 2025

 

Preedy Property Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Preedy Property Ltd

Company Information

Directors

M Preedy

H Nevin

Registered office

53 Stanhope Road
Greenford
UB6 9EA

Accountants

Ardmore Accountancy Limited
Chartered Certified Accountants
Suite 2
Jupiter Business Suites
30a Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7DA

 

Preedy Property Ltd

(Registration number: 15805258)
Balance Sheet as at 30 June 2025

Note

2025
£

Fixed assets

 

Investment property

4

128,372

Current assets

 

Debtors

5

7,857

Cash at bank and in hand

 

533

 

8,390

Creditors: Amounts falling due within one year

6

(150,193)

Net current liabilities

 

(141,803)

Net liabilities

 

(13,431)

Capital and reserves

 

Called up share capital

2

Retained earnings

(13,433)

Shareholders' deficit

 

(13,431)

For the financial period ending 30 June 2025 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 30 August 2025 and signed on its behalf by:
 

M Preedy
Director

H Nevin
Director

 
     
 

Preedy Property Ltd

Notes to the Unaudited Financial Statements for the Period from 26 June 2024 to 30 June 2025

1

General information

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

The address of its registered office is:
53 Stanhope Road
Greenford
UB6 9EA

These financial statements were authorised for issue by the Board on 30 August 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 company's balance sheet shows a net liability position at the balance sheet date. The directors have arranged adequate funding to finance the company's continuing activities and enable it to pay its debts as and when they fall due for payment. Accordingly, the directors consider that the company is a going concern and the financial statements have been prepared on this basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The values are reviewed annually by the directors of the company who 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 the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Preedy Property Ltd

Notes to the Unaudited Financial Statements for the Period from 26 June 2024 to 30 June 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

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

4

Investment properties

2025
£

Additions

128,372

At 30 June

128,372

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2025
£

Prepayments

7,857

 

7,857

 

Preedy Property Ltd

Notes to the Unaudited Financial Statements for the Period from 26 June 2024 to 30 June 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

Due within one year

 

Loans and borrowings

7

58,500

Amounts owed to related parties

90,913

Accruals and deferred income

 

780

 

150,193

Loans due within one year are secured by way of a floating charge and negative pledge over the property owned by the company.

7

Loans and borrowings

Current loans and borrowings

2025
£

Other borrowings

58,500