| Property Plus Wales Limited |
| Accountant's Report |
|
| Accountant's Report To The Directors of |
| Property Plus Wales Limited |
|
| You consider that the company is exempt from an audit for the year ended 30 November 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, I have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to me. |
| I have not carried out an audit or any other review, and consequently I do not express any opinion on these accounts. |
|
| P.J. Reed |
| Chartered Accountant |
|
| 13 Corbett Grove |
| Caerphilly |
| CF83 1SZ |
|
| 27 August 2026 |
|
| Property Plus Wales Limited |
| Registered Number: |
06430181 |
| Balance Sheet |
| As At 30 November 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
188,850 |
|
|
189,356 |
| Investments |
4 |
|
|
351,315 |
|
|
220,926 |
|
|
|
|
540,165 |
|
|
410,282 |
|
| Current assets |
| Debtors |
5 |
|
463,114 |
|
|
129,115 |
| Cash at bank and in hand |
|
|
172,747 |
|
|
431,443 |
|
|
|
635,861 |
|
|
560,558 |
|
| Creditors: amounts falling due within one year |
6 |
|
(253,849) |
|
|
(259,397) |
|
| Net current assets |
|
|
|
382,012 |
|
|
301,161 |
|
| Total assets less current liabilities |
|
|
|
922,177 |
|
|
711,443 |
|
|
| Provisions for liabilities |
|
|
|
(9,915) |
|
|
(3,853) |
|
|
| Net assets |
|
|
|
912,262 |
|
|
707,590 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Non-distributable reserve |
7 |
|
|
21,766 |
|
|
- |
| Profit and loss account |
|
|
|
890,495 |
|
|
707,589 |
|
| Shareholder's funds |
|
|
|
912,262 |
|
|
707,590 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. |
|
|
|
|
| L.W. Nicholls |
| Director |
| Approved by the board on 27 August 2026 |
|
| Property Plus Wales Limited |
| Notes To The Accounts |
| For The Year Ended 30 November 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Tangible fixed assets |
|
No depreciation is provided on revalued land and buildings. Depreciation is provided on all other tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
20% reducing balance |
|
|
Investments |
|
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued properties where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
11 |
|
11 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost or revaluation |
|
At 1 December 2024 |
154,236 |
|
16,915 |
|
81,780 |
|
252,931 |
|
Additions |
- |
|
1,180 |
|
- |
|
1,180 |
|
Surplus on revaluation |
5,764 |
|
- |
|
- |
|
5,764 |
|
Disposals |
- |
|
(1,489) |
|
- |
|
(1,489) |
|
At 30 November 2025 |
160,000 |
|
16,606 |
|
81,780 |
|
258,386 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2024 |
- |
|
8,795 |
|
54,780 |
|
63,575 |
|
Charge for the year |
- |
|
1,860 |
|
5,400 |
|
7,260 |
|
On disposals |
- |
|
(1,299) |
|
- |
|
(1,299) |
|
At 30 November 2025 |
- |
|
9,356 |
|
60,180 |
|
69,536 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2025 |
160,000 |
|
7,250 |
|
21,600 |
|
188,850 |
|
At 30 November 2024 |
154,236 |
|
8,120 |
|
27,000 |
|
189,356 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
154,236 |
|
154,236 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
154,236 |
|
154,236 |
|
The land and buildings were revalued at open market value by the directors as at 30 November 2025. |
|
|
| 4 |
Investments |
|
| Investment |
| properties |
| £ |
|
Fair value |
|
At 1 December 2024 |
220,926 |
|
Additions |
107,132 |
|
Gain on revaluation |
23,257 |
|
|
At 30 November 2025 |
351,315 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 December 2024 |
220,926 |
|
At 30 November 2025 |
328,058 |
|
|
|
|
|
|
|
|
|
|
The properties were valued at fair value as at 30 November 2025 by the directors. |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
20,587 |
|
26,826 |
|
Other debtors |
442,527 |
|
102,289 |
|
|
|
|
|
|
463,114 |
|
129,115 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Taxation and social security costs |
146,303 |
|
135,314 |
|
Other creditors |
107,546 |
|
124,083 |
|
|
|
|
|
|
253,849 |
|
259,397 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Non-distributable reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
Gain on revaluation of properties |
|
29,021 |
|
- |
|
Deferred taxation arising on the revaluation of properties |
|
(7,255) |
|
- |
|
|
At 30 November 2025 |
21,766 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
L.W. Nicholls |
|
Unsecured interest free loan repaid in full on 29 August 2025 |
38,332 |
|
94,527 |
|
(132,859) |
|
- |
|
|
|
38,332 |
|
94,527 |
|
(132,859) |
|
- |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
During the year the company lent £379,600 interest free with no fixed date of repayment to a company controlled by L.W. Nicholls, a director and the shareholder of the company, and A.J. Nicholls, a director of the company. |
|
|
| 10 |
Other information |
|
Property Plus Wales Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
22 Mill Street |
|
Tonyrefail |
|
Porth |
|
Rhondda Cynon Taf |
|
CF39 8AA |