| REGISTERED NUMBER: |
| ENVISIONED PROPERTY LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 |
| REGISTERED NUMBER: |
| ENVISIONED PROPERTY LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 |
| ENVISIONED PROPERTY LIMITED (REGISTERED NUMBER: 11784949) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 | to | 3 |
| ENVISIONED PROPERTY LIMITED (REGISTERED NUMBER: 11784949) |
| BALANCE SHEET |
| 31 JANUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| ENVISIONED PROPERTY LIMITED (REGISTERED NUMBER: 11784949) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Envisioned Property Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the year comprises current tax only. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Going concern |
| The company has incurred losses in each of its first six trading periods as it seeks to build up a portfolio of properties for the purpose of letting them out. The properties acquired to date were in need of refurbishment prior to letting and it is these costs, along with financing costs, that have lead to the losses to date. Both of the properties acquired so far have, however, started to yield income, albeit that one was vacant for the majority of this period. At present the Director is funding these costs personally and he has confirmed that he has no intention of seeking repayment of his Directors loan account balance until the company is self sustaining and can therefore make repayments out of cashflow surpluses. Accordingly the Director believes that it is appropriate to prepare these financial statements on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ENVISIONED PROPERTY LIMITED (REGISTERED NUMBER: 11784949) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| On 16 March 2020 the Director acquired a freehold property on behalf of the company. All rights and obligations in relation to the property belong to the company however the legal paperwork was drawn up in the Director's personal name to enable finance to be obtained. As soon as is possible the legal ownership and related mortgage will be changed to that of the company to formalise the legal position. |
| On 20 April 2023 the Director acquired a further freehold property on behalf of the company. Again all rights and obligations in relation to the property belong to the company however the legal paperwork was drawn up in the Director's personal name to enable finance to be obtained. As soon as is possible the legal ownership and related mortgage will also be changed to that of the company to formalise the legal position. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed the sum of £ 337,265 (2024: £330,019) to its Director. Whilst this amount is technically repayable on demand, the Director has indicated that he has no intention of seeking repayment in the foreseeable future. |
| The above includes £258,989 in relation to personal mortgages taken out to purchase the freehold properties referred to in the Fixed Asset note. These mortgages are interest only and, hence, the capital sum is disclosed as being due after more than one year. |
| The company is paying an amount to the Director each month equal to the mortgage interest currently being paid by the Director on these mortgages. |
| No other interest is payable on the above balance at this time. |