Property Simplified Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08387661 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 MARCH 2018 TO 31 MARCH 2019

FOR

PROPERTY SIMPLIFIED LIMITED

FIXED ASSETS

Tangible assets

4

865

-

CURRENT ASSETS

Stocks

381,311

-

Cash at bank

34,211

2

415,522

2

CREDITORS

Amounts falling due within one year

419,562

-

NET CURRENT (LIABILITIES)/ASSETS

(4,040

)

2

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,175

)

2

CAPITAL AND RESERVES

Called up share capital

100

2

Retained earnings

(3,275

)

-

(3,175

)

2

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 June 2019 and were signed by:

D J Jeans - Director

1.	STATUTORY INFORMATION

Property Simplified Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 08387661 and the registered office is 30A Elm Hill, Norwich,

Norfolk, NR3 1HG. The presentation currency of the financial statements is sterling.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 financial statements have been prepared under the historical cost convention.

The financial statements reflect the 13 month period from 1 March 2018 to 31 March 2019 and as

such the comparatives are not entirely comparable. The financial reporting period was extended so as

to become co-terminus with other group companies.

Preparation of consolidated financial statements

The financial statements contain information about Property Simplified Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and that are

expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2018 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

1,153

At 31 March 2019

1,153

DEPRECIATION

Charge for period

288

At 31 March 2019

288

NET BOOK VALUE

At 31 March 2019

865

5.	SECURED DEBTS

The company's stocks are secured by a legal charge.

6.	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.