Registration number: 10802192

Property Relief Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Property Relief Limited

Company Information

Directors

Mr Nigel Round Mrs Victoria Susan Round

Registered office

C/o McGinty Demack Vermont House Bradley Lane Wigan Lancashire WN6 0XF

Accountants

McGinty Demack Chartered Certified Vermont House Bradley Lane Standish Lancashire WN6 0XF

Property Relief Limited

(Registration number: 10802192)
Balance Sheet as at 28 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,376,126	1,242,071
Current assets
Cash at bank and in hand		1,702	21,162
Creditors: Amounts falling due within one year	5	(319,912)	(262,233)
Net current liabilities		(318,210)	(241,071)
Total assets less current liabilities		2,057,916	1,001,000
Creditors: Amounts falling due after more than one year	5	(1,231,981)	(1,038,073)
Net assets/(liabilities)		825,935	(37,073)
Capital and reserves
Called up share capital	6	100	100
Revaluation reserve		880,180	-
Retained earnings		(54,345)	(37,173)
Shareholders' funds/(deficit)		825,935	(37,073)

For the financial year ending 28 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 year 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.

Property Relief Limited

(Registration number: 10802192)
Balance Sheet as at 28 June 2025

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 26 September 2025 and signed on its behalf by:
 

......................................... Mr Nigel Round Director

......................................... Mrs Victoria Susan Round Director

Property Relief Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 June 2025

1	General information

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

The address of its registered office is:
C/o McGinty Demack
Vermont House
Bradley Lane
Wigan
Lancashire
WN6 0XF
United Kingdom

These financial statements were authorised for issue by the Board on 26 September 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 financial statements have been prepared on a going concern basis.

Property Relief Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 June 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	no depreciation
Office equipment	15% reducing balance

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 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Property Relief Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 June 2025

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 2).

Property Relief Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 June 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 29 June 2024	1,241,613	900	1,242,513
Revaluations	880,180	-	880,180
Additions	253,923	-	253,923
At 28 June 2025	2,375,716	900	2,376,616
Depreciation
At 29 June 2024	-	442	442
Charge for the year	-	48	48
At 28 June 2025	-	490	490
Carrying amount
At 28 June 2025	2,375,716	410	2,376,126
At 28 June 2024	1,241,613	458	1,242,071

Included within the net book value of land and buildings above is £2,375,716 (2024 - £1,241,613) in respect of freehold land and buildings.
 

Property Relief Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 June 2025

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	1,498	1,366
Other creditors	318,414	260,867
	319,912	262,233

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	1,231,981	1,038,073

6	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	880,180	880,180

Property Relief Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 June 2025

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	1,231,981	1,038,073