REGISTERED NUMBER: 08622002 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Prop Store Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S P Lane

E A Lane

A S T Packham

REGISTERED OFFICE:

Great House Farm

Chenies

Rickmansworth

Hertfordshire

WD3 6EP

REGISTERED NUMBER:

08622002 (England and Wales)

AUDITORS:

DUX Advisory Limited

Chartered Accountants and

Statutory Auditors

Kennel Club House

Gatehouse Way

Aylesbury

Buckinghamshire

HP19 8DB

FIXED ASSETS

Intangible assets

5

737,046

436,550

Tangible assets

6

66,634

93,217

803,680

529,767

CURRENT ASSETS

Stocks

1,180,811

1,218,260

Debtors

7

1,302,397

1,365,028

Cash at bank and in hand

2,671,373

2,408,309

5,154,581

4,991,597

CREDITORS

Amounts falling due within one year

8

1,469,146

1,110,371

NET CURRENT ASSETS

3,685,435

3,881,226

TOTAL ASSETS LESS CURRENT LIABILITIES

4,489,115

4,410,993

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

4,489,015

4,410,893

SHAREHOLDERS' FUNDS

4,489,115

4,410,993

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 18 December 2025 and were signed on its behalf by:

S P Lane - Director

1.	STATUTORY INFORMATION

Prop Store 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.	STATEMENT OF COMPLIANCE

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 presentation currency of these financial statements is in sterling and they are rounded to the nearest £.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process.

The critical judgments that the directors have made in the process of applying the company's accounting policies that have the most significant effect on the statutory financial statements are discussed below:

i. Depreciation of fixed assets

The company establishes depreciation policies to write off assets over their useful economic life.

ii. Value of Stock

Stock is valued at the lower of cost and net realisable value.

Turnover

Turnover is commission earned at auction received or receivable, excluding discounts, rebates, value added tax and other sales taxes and sale proceeds from owned stock at auctions.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. Goodwill is being amortised evenly over the estimated useful life of seven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised as the project is being delivered on an agile basis over its estimated useful life of six years.

Tangible fixed assets

Tangible fixed assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and impairment. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as a separate item of tangible fixed assets.

Depreciation is provided at the following annual rates in order to write off each asset over its useful estimated life, on a straight-line basis or, if held under a finance lease, over the lease term, whichever is shorter.

Fixtures & fittings:

4 year SL - fully year charge in year of acquisition

Computer equipment:

3 year SL - fully year charge in year of acquisition

Plant & machinery:

5 year SL - fully year charge in year of acquisition

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 26 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

1,000,000

436,550

1,436,550

Additions

-

412,000

412,000

At 31 March 2025

1,000,000

848,550

1,848,550

AMORTISATION

At 1 April 2024

1,000,000

-

1,000,000

Charge for year

-

111,504

111,504

At 31 March 2025

1,000,000

111,504

1,111,504

NET BOOK VALUE

At 31 March 2025

-

737,046

737,046

At 31 March 2024

-

436,550

436,550

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

229,059

Additions

24,853

At 31 March 2025

253,912

DEPRECIATION

At 1 April 2024

135,842

Charge for year

51,436

At 31 March 2025

187,278

NET BOOK VALUE

At 31 March 2025

66,634

At 31 March 2024

93,217

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

613,719

399,358

Amounts owed by group undertakings

510,200

619,428

Other debtors

178,478

346,242

1,302,397

1,365,028

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

589,253

215,073

Taxation and social security

287,341

327,626

Other creditors

592,552

567,672

1,469,146

1,110,371

9.	LEASING AGREEMENTS

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

31.3.25

31.3.24

£

£

Within one year

48,000

48,000

Between one and five years

192,000

192,000

In more than five years

428,000

476,000

668,000

716,000

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary Shares

£1

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Bianca Permal (Senior Statutory Auditor)

for and on behalf of DUX Advisory Limited

12.	CAPITAL COMMITMENTS

There is a capital commitment of £64,480 at the year end 31 March 2025 (2024: £32,240) in relation to software development.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14.	ULTIMATE CONTROLLING PARTY

The parent company is Prop Store Group Limited, a company registered in England and Wales, company number 14032289. Prop Store Group Limited's registered office is Great House Farm, Chenies, Rickmansworth, England, WD3 6EP.