The Property Management Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02489523 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

THE PROPERTY MANAGEMENT GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTORS:

Mrs J Rich

D Rich

SECRETARY:

D Rich

REGISTERED OFFICE:

182 Gloucester Road

Bristol

BS7 8NU

REGISTERED NUMBER:

02489523 (England and Wales)

ACCOUNTANTS:

PJE Chartered Accountants

2 Oakfield Road

Clifton

Bristol

BS8 2AL

FIXED ASSETS

Tangible assets

4

365,786

365,482

Investment property

5

5,493,922

5,307,996

5,859,708

5,673,478

CURRENT ASSETS

Debtors

6

5,758

28,640

Cash at bank and in hand

288,908

291,995

294,666

320,635

CREDITORS

Amounts falling due within one year

7

329,467

391,547

NET CURRENT LIABILITIES

(34,801

)

(70,912

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,824,907

5,602,566

CREDITORS

Amounts falling due after more than one
year

8

(2,447,070

)

(2,447,900

)

PROVISIONS FOR LIABILITIES

(458,213

)

(419,704

)

NET ASSETS

2,919,624

2,734,962

CAPITAL AND RESERVES

Called up share capital

100

Non-distributable reserve

12

2,375,767

Retained earnings

543,757

359,095

SHAREHOLDERS' FUNDS

2,919,624

2,734,962

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2025 and were signed on its behalf by:

D Rich - Director

1.	STATUTORY INFORMATION

The Property Management Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

not provided

Fixtures and fittings

-

33.3% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. 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 or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

COST

At 1 March 2024

365,000

4,047

369,047

Additions

-

791

Disposals

-

(1,110

)

(1,110

)

At 28 February 2025

365,000

3,728

368,728

DEPRECIATION

At 1 March 2024

-

3,565

Charge for year

-

487

Eliminated on disposal

-

(1,110

)

(1,110

)

At 28 February 2025

-

2,942

NET BOOK VALUE

At 28 February 2025

365,000

786

365,786

At 29 February 2024

365,000

482

365,482

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

5,307,996

Additions

2,281

Revaluations

183,645

At 28 February 2025

5,493,922

NET BOOK VALUE

At 28 February 2025

5,493,922

At 29 February 2024

5,307,996

Fair value at 28 February 2025 is represented by:

£

Valuation in 2018

1,735,987

Valuation in 2021

70,313

Valuation in 2022

624,980

Valuation in 2023

14,122

Valuation in 2024

187,995

Valuation in 2025

183,645

Cost

2,676,880

5,493,922

The revaluation of property was undertaken in February 2025, by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

216

1,386

Other debtors

-

1,562

Directors' loan accounts

-

19,081

Prepayments and accrued income

5,542

6,611

5,758

28,640

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Bank loans and mortgages (see note 9)

-

33,000

Tenant deposits held

252,547

244,023

Tax

29,195

32,535

Social security and other taxes

5,515

2,339

VAT

7,768

7,939

Tenant's account

29,523

51,212

Other creditors

4,194

10,499

Directors' loan accounts

725

-

Accrued expenses

-

10,000

329,467

391,547

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

28.2.25

29.2.24

£

Bank loans (see note 9)

2,447,070

2,447,900

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages

2,447,070

2,273,348

9.

LOANS

An analysis of the maturity of loans is given below:

28.2.25

29.2.24

£

Amounts falling due within one year or on demand:

Mortgages

-

33,000

Amounts falling due between one and two years:

Mortgages

-

33,000

28.2.25

29.2.24

£

Amounts falling due between two and five years:

Mortgages

-

141,552

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages

2,447,070

2,273,348

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.25

29.2.24

£

Within one year

5,768

10,785

Between one and five years

9,855

15,196

15,623

25,981

11.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

Bank loans

2,447,070

2,480,900

The mortgages are secured on the properties to which they relate.

12.

RESERVES

Non-distributable

reserve

£

At 1 March 2024

and 28 February 2025

2,375,767

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

D Rich and Mrs J Rich

Balance outstanding at start of year

19,082

27,408

Amounts advanced

45,194

51,674

Amounts repaid

(65,000

)

(60,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(724

)

19,082

The balance is unsecured, interest free and was repaid on 6 April 2024.

14.	ULTIMATE CONTROLLING PARTY

The company is owned and controlled by the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Property Management Group Limited for the year ended 28 February 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Property Management Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Property Management Group Limited and state those matters that we have agreed to state to the Board of Directors of The Property Management Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Property Management Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Property Management Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Property Management Group Limited. You consider that The Property Management Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Property Management Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

PJE Chartered Accountants

2 Oakfield Road

Clifton

Bristol

BS8 2AL

4 November 2025