PRINCIPAL PROPERTY LTD

	Page
Company Information	1
Director's Report	2
Profit and Loss Account	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6—7

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Company No. 04441464

Director's Report For The Year Ended 31 December 2024

Director's Report

The director presents his report and the financial statements for the year ended 31 December 2024.

Principal Activity

The company's principal activity continues to be the development of computer software for the leisure and travel industry and

advertising of leisure and travel services.

Directors

The director who held office during the year were as follows:

G M Smith

Statement of Director's Responsibilities

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has 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.

On behalf of the board

G M Smith

Director

8 September 2025

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PRINCIPAL PROPERTY LTD

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
Administrative expenses		(5,685 )	(5,763 )
Other operating income		1,344	1,318

OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR		(4,341 )	(4,445 )

The notes on pages 6 to 7 form part of these financial statements.

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PRINCIPAL PROPERTY LTD

Balance Sheet

As At 31 December 2024

Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		587		1,029
Tangible Assets	5		43		46

			630		1,075
CURRENT ASSETS
Debtors	6	1,185		1,187
Cash at bank and in hand		74		48

		1,259		1,235
Creditors: Amounts Falling Due Within One Year	7	(1,288 )		(368 )

NET CURRENT ASSETS (LIABILITIES)			(29 )		867

TOTAL ASSETS LESS CURRENT LIABILITIES			601		1,942

NET ASSETS			601		1,942

CAPITAL AND RESERVES
Called up share capital	8		69,000		66,000
Profit and Loss Account			(68,399 )		(64,058 )

SHAREHOLDERS' FUNDS			601		1,942

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

G M Smith

Director

8 September 2025

The notes on pages 6 to 7 form part of these financial statements.

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PRINCIPAL PROPERTY LTD

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	62,000	(59,613 )	2,387
Loss for the year and total comprehensive income	-	(4,445 )	(4,445)

Arising on shares issued during the period	4,000	-	4,000

As at 31 December 2023 and 1 January 2024	66,000	(64,058 )	1,942


Loss for the year and total comprehensive income	-	(4,341 )	(4,341)

Arising on shares issued during the period	3,000	-	3,000

As at 31 December 2024	69,000	(68,399 )	601

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PRINCIPAL PROPERTY LTD

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

PRINCIPAL PROPERTY LTD is a private company, limited by shares, incorporated in England & Wales, registered number 04441464 . The registered office is 310 Lower Road, Great Bookham, Leatherhead, Surrey, KT23 4DW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets comprise purchased computer software and internet domain names, stated at cost less accumulated amortisation. Assets are amortised to the profit and loss account over the estimated economic life of five years for computer software and ten years for internet domain names.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, on a straight-line basis over the following periods:

Fixtures & Fittings	5 years
Computer Equipment	5 years

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Taxation

Deferred tax assets on deductible temporary differences are not recognised due to insufficient evidence that the assets will be recoverable. The carrying amount of any deferred tax assets is reviewed at the end of each reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	8,755

As at 31 December 2024	8,755

Amortisation
As at 1 January 2024	7,726
Provided during the period	442

As at 31 December 2024	8,168

Net Book Value
As at 31 December 2024	587

As at 1 January 2024	1,029

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PRINCIPAL PROPERTY LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	468	6,308	6,776
Additions	-	10	10

As at 31 December 2024	468	6,318	6,786

Depreciation
As at 1 January 2024	468	6,262	6,730
Provided during the period	-	13	13

As at 31 December 2024	468	6,275	6,743

Net Book Value
As at 31 December 2024	-	43	43

As at 1 January 2024	-	46	46

6. Debtors

	2024	2023
	£	£
Due within one year
Prepayments and accrued income	1,185	1,187

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	98	344
Director's loan account	1,190	24

	1,288	368

8. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
690,000 Ordinary Shares of £ 0.10 each	69,000	66,000


Shares issued during the period:	£
30,000 Ordinary Shares of £ 0.10 each	3,000

9. Related Party Transactions

G M Smith

Director, Shareholder

The Company has an outstanding non-interest bearing loan from G M Smith

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Director	G M Smith

Secretary	K Smith

Company Number	04441464

Registered Office	310 Lower Road
	Great Bookham
	Leatherhead
	Surrey
	KT23 4DW