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Logo On Report
Registered Number: 08749400
England and Wales

 

 

 

PURPOSE PROPERTY MANAGEMENT LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

Purpose Property Management Limited
Contents Page
For the year ended 31 October 2024
Director Peter Mill
Registered Number 08749400
Registered Office 37A Victoria Road
Southampton
Hampshire
SO19 9DY
Accountants JSR MANAGEMENT & HR CONSULTANCY SERVICES LTD
37A Victoria Road
Southampton
SO19 9DY
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 October 2024.
Principal activities
Principal activity of the company during the financial year was of Development of Building Projects, Buying and Selling of own Real Estate and other Letting and Operating of own or leased Real Estate.
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
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 the profit or loss of the company for that period.

In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • 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. The director 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
Director
The director who served the company throughout the year was as follows:
Peter Mill

On behalf of the board.


----------------------------------
Peter Mill
Director

Date approved: 26 October 2025
2
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 1,235,459    1,235,459 
1,235,459    1,235,459 
Current assets      
Debtors 4 232,052    228,852 
Cash at bank and in hand 1,591    3,206 
233,643    232,058 
Creditors: amount falling due within one year 5 (981,530)   (996,560)
Net current assets (747,887)   (764,502)
 
Total assets less current liabilities 487,572    470,957 
Creditors: amount falling due after more than one year 6 (435,288)   (388,635)
Net assets 52,284    82,322 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 52,184    82,222 
Shareholders' funds 52,284    82,322 
 


For the 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.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 26 October 2025 and were signed by:


-------------------------------
Peter Mill
Director
3
General Information
Purpose Property Management Limited is a private company, limited by shares, registered in England and Wales, registration number 08749400, registration address 37A Victoria Road, Southampton, Hampshire, SO19 9DY.

The presentation currency is £ sterling.
1.

Accounting policies

Turnover
Turnover comprises the rental income received.
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 November 2023 969,080    969,080 
Additions -    - 
Disposals -    - 
Revaluations 266,379    266,379 
At 31 October 2024 1,235,459    1,235,459 
Depreciation
At 01 November 2023 -    - 
Charge for year -    - 
On disposals -    - 
At 31 October 2024 -    - 
Net book values
Closing balance as at 31 October 2024 1,235,459    1,235,459 
Opening balance as at 01 November 2023 1,235,459    1,235,459 


4.

Debtors: amounts falling due within one year

2024
£		   2023
£
Amount Owed by Group Undertakings 197,715    197,715 
Purpose Property Co-Living Ltd 34,337    31,137 
232,052    228,852 

5.

Creditors: amount falling due within one year

2024
£		   2023
£
Bank Loans & Overdrafts 87,238    78,570 
Taxation and Social Security 80    80 
Other Creditors 894,212    917,910 
981,530    996,560 

6.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Amounts Owed to Group Undertakings 52,756    52,756 
Bank Loans & Overdrafts 174,641    130,988 
Other Creditors 207,891    204,891 
435,288    388,635 

4