Registration number: 11957012

Property 62 Group Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Property 62 Group Limited

Company Information

Director

Mr Jon Paul Palombo

Registered office

19 Broadway Codsall Wolverhampton Staffordshire WV8 2EL

Accountants

Property Tax Advice Ltd 1 Market Hill Calne Wiltshire SN11 0BT

Property 62 Group Limited

(Registration number: 11957012)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	15,136	29,939
Investment property	6	180,000	125,000
		195,136	154,939
Current assets
Debtors	7	265,227	164,112
Cash at bank and in hand		10,180	12,504
		275,407	176,616
Creditors: Amounts falling due within one year	8	(17,434)	(34,501)
Net current assets		257,973	142,115
Total assets less current liabilities		453,109	297,054
Creditors: Amounts falling due after more than one year	8	(127,236)	(119,401)
Provisions for liabilities		(15,323)	(4,873)
Net assets		310,550	172,780
Capital and reserves
Called up share capital		2	2
Revaluation reserve		65,325	20,775
Retained earnings		245,223	152,003
Shareholders' funds		310,550	172,780

For the financial year ending 30 April 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 23 April 2026
 

Property 62 Group Limited

(Registration number: 11957012)
Balance Sheet as at 30 April 2025 (continued)

......................................... Mr Jon Paul Palombo Director

Property 62 Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

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

The address of its registered office is:
19 Broadway
Codsall
Wolverhampton
Staffordshire
WV8 2EL

These financial statements were authorised for issue by the director on 23 April 2026.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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:

Property 62 Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Furniture & Fittings	25% Straight Line
Office Equipment	25% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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 0 (2024 - 2).

4	Profit before tax

Arrived at after charging/(crediting)

Property 62 Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

4	Profit before tax (continued)

	2025 £	2024 £
Depreciation expense	16,230	18,688

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2024	74,750	74,750
Additions	1,428	1,428
At 30 April 2025	76,178	76,178
Depreciation
At 1 May 2024	44,811	44,811
Charge for the year	16,231	16,231
At 30 April 2025	61,042	61,042
Carrying amount
At 30 April 2025	15,136	15,136
At 30 April 2024	29,939	29,939

6	Investment properties

	2025 £
At 1 May	125,000
Fair value adjustments	55,000
At 30 April	180,000

The fair value of the property at 30th April 2025 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £180,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Property 62 Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

7	Debtors (continued)

Current	Note	2025 £	2024 £
Amounts owed by related parties		258,071	154,825
Other debtors		7,156	9,287
		265,227	164,112

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		5,750	18,475
Trade creditors		1,849	-
Taxation and social security		8,465	5,400
Accruals and deferred income		1,370	1,333
Other creditors		-	9,293
		17,434	34,501

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		127,236	119,401