Registration number: 07587276

Proper Old Ltd

Contents

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

Proper Old Ltd

Company Information

Director

Mr Nick Jenkins

Registered office

70 Churchgate Cheshunt Waltham Cross Hertfordshire EN8 9ND

Accountants

Simon Kingsley 58 Montague Road Hackney London E8 2HW

Proper Old Ltd

(Registration number: 07587276)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	12,898	19,348
Current assets
Stocks	5	3,000	3,000
Cash at bank and in hand		6,709	12,613
		9,709	15,613
Creditors: Amounts falling due within one year	7	(9,705)	(16,709)
Net current assets/(liabilities)		4	(1,096)
Total assets less current liabilities		12,902	18,252
Creditors: Amounts falling due after more than one year	7	(8,009)	(11,568)
Net assets		4,893	6,684
Capital and reserves
Called up share capital	8	1	1
Retained earnings		4,892	6,683
Shareholders' funds		4,893	6,684

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 December 2025
 

Proper Old Ltd

(Registration number: 07587276)
Balance Sheet as at 31 March 2025

......................................... Mr Nick Jenkins Director

Proper Old Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
70 Churchgate
Cheshunt
Waltham Cross
Hertfordshire
EN8 9ND
England

These financial statements were authorised for issue by the director on 23 December 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.

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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Proper Old Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

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.

Proper Old Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 the director) during the year, was 1 (2024 - 1).

Proper Old Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	25,798	25,798
At 31 March 2025	25,798	25,798
Depreciation
At 1 April 2024	6,450	6,450
Charge for the year	6,450	6,450
At 31 March 2025	12,900	12,900
Carrying amount
At 31 March 2025	12,898	12,898
At 31 March 2024	19,348	19,348

5

Stocks

	2025 £	2024 £
Other inventories	3,000	3,000

6

Debtors

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	3,560	3,560
Other creditors		6,145	13,149
		9,705	16,709

Creditors: amounts falling due after more than one year

Proper Old Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	8,009	11,568

8	Share capital

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	8,009	11,568

Current loans and borrowings

	2025 £	2024 £
Other borrowings	3,560	3,560

10

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £Nil per each Ordinary		-		-

11	Related party transactions

Proper Old Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	9,098	9,100