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Company Registration No. 04417066 (England and Wales)
Properties To Let Ltd Unaudited accounts for the year ended 31 March 2025
Properties To Let Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Properties To Let Ltd Company Information for the year ended 31 March 2025
Director
Mr M A K M Yafai
Company Number
04417066 (England and Wales)
Registered Office
Eden Park Penistone Road Grenoside Sheffield South Yorkshire S35 8QH England
Accountants
Blue Jay Accountants Limited Oak House Samuel Brunts Way Mansfield NG18 2AH
- 3 -
Properties To Let Ltd Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
6,282
7,497
Tangible assets
5
798
997
Investment property
6
6,370,105
6,370,105
6,377,185
6,378,599
Current assets
Debtors
7
838,735
815,445
Cash at bank and in hand
41,657
7,108
880,392
822,553
Creditors: amounts falling due within one year
8
(687,789)
(685,658)
Net current assets
192,603
136,895
Total assets less current liabilities
6,569,788
6,515,494
Creditors: amounts falling due after more than one year
9
(1,772,000)
(1,849,452)
Provisions for liabilities
Deferred tax
(559,382)
(559,375)
Net assets
4,238,406
4,106,667
Capital and reserves
Called up share capital
1
1
Revaluation reserve
2,451,499
2,451,499
Profit and loss account
1,786,906
1,655,167
Shareholders' funds
4,238,406
4,106,667
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 March 2026 and were signed on its behalf by
Mr M A K M Yafai Director Company Registration No. 04417066
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Properties To Let Ltd Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Properties To Let Ltd is a private company, limited by shares, registered in England and Wales, registration number 04417066. The registered office is Eden Park, Penistone Road, Grenoside, Sheffield, South Yorkshire, S35 8QH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Computer software is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Presentation currency
The accounts are presented in £ sterling.
- 5 -
Properties To Let Ltd Notes to the Accounts for the year ended 31 March 2025
4
Intangible fixed assets
Other
£
Cost
At 1 April 2024
12,155
At 31 March 2025
12,155
Amortisation
At 1 April 2024
4,658
Charge for the year
1,215
At 31 March 2025
5,873
Net book value
At 31 March 2025
6,282
At 31 March 2024
7,497
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
6,200
28,747
34,947
At 31 March 2025
6,200
28,747
34,947
Depreciation
At 1 April 2024
5,928
28,022
33,950
Charge for the year
54
145
199
At 31 March 2025
5,982
28,167
34,149
Net book value
At 31 March 2025
218
580
798
At 31 March 2024
272
725
997
6
Investment property
2025
£
Fair value at 1 April 2024
6,370,105
At 31 March 2025
6,370,105
7
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
17,581
10,984
Other debtors
8,520
43,827
26,101
54,811
Amounts falling due after more than one year
Other debtors
812,634
760,634
- 6 -
Properties To Let Ltd Notes to the Accounts for the year ended 31 March 2025
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
60,750
44,048
Trade creditors
161
150
Taxes and social security
93,649
85,218
Other creditors
533,229
556,242
687,789
685,658
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
1,772,000
1,849,452
10
Loans to directors
During the year Mrs M M Yafai, spouse of Mr M A K M Yafai operated a loan account with the company. At the year end date the company owed Mrs M M Yafai £517,337 (2024: £520,337). The loan is repayable on demand and was not overdrawn at any point during the year.
11
Transactions with related parties
During the year, the company operated a loan account with The Car Megastore Limited, a company owned and controlled by Mr M A K M Yafai. At the balance sheet date The Car Megastore Limited owed the company £506,300 (2024: £516,300) which is included in other debtors. The company charged rent to The Car Megastore Limited amounting to £95,000 (2024: £140,833) during the year. The company also operated a loan account with Whitemoor Design Build Limited, a company owned and controlled by Mr M A K M Yafai. At the balance sheet date Whitemoor Design Build Limited owed the company £174,508 (2024: £122,508).
12
Average number of employees
During the year the average number of employees was 3 (2024: 3).
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