Property Design and Development Limited
Property Design and Development Limited
Registered number: 6320858
Unaudited Financial Statements
For The Year Ended 31 July 2019
PJM Accountancy
Chartered Accountants
Trevean
Yeolmbridge
Launceston
Cornwall
PL15 8NJ
Property Design and Development Limited
Unaudited Financial Statements
For The Year Ended 31 July 2019
Unaudited Financial Statements
Contents | |
Page | |
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Company Information | 1 |
Accountants' Report | 2 |
Balance Sheet | 3—4 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6—7 |
Property Design and Development Limited
Company Information
For The Year Ended 31 July 2019
Company Information
Director |
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Secretary |
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Company Number |
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Registered Office | 8 Bowden Park Road |
Crownhill | |
Plymouth | |
PL6 5NF | |
Accountants |
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Chartered Accountants | |
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Yeolmbridge | |
Launceston | |
Cornwall | |
PL15 8NJ | |
Page 1
Property Design and Development Limited
Accountants' Report
For The Year Ended 31 July 2019
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Property Design and Development Limited For The Year Ended 31 July 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Property Design and Development Limited For The Year Ended 31 July 2019 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Property Design and Development Limited , as a body, in accordance with the terms of our engagement letter dated 04 April 2017. Our work has been undertaken solely to prepare for your approval the accounts of Property Design and Development Limited and state those matters that we have agreed to state to the director of Property Design and Development Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property Design and Development Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Property Design and Development Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Property Design and Development Limited . You consider that Property Design and Development Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Property Design and Development Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Chartered Accountants
Trevean
Yeolmbridge
Launceston
Cornwall
PL15 8NJ
Page 2
Property Design and Development Limited
Balance Sheet
As at
31 July 2019
Balance Sheet
Registered number:
6320858
For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
2019 | 2018 | ||||
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Notes | £ | £ | £ | £ | |
CURRENT ASSETS | |||||
Debtors | 3 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 4 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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NET ASSETS |
( |
( |
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CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | (10,152) | (6,581) | |||
Page 3
Property Design and Development Limited
Balance Sheet (continued)
As at
31 July 2019
Director's responsibilities
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The member has 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 6 to 7 form part of these financial statements.
Page 4
Property Design and Development Limited
Statement of Changes in Equity
For The Year Ended 31 July 2019
Statement of Changes in Equity
Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 August 2017 |
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111 |
Loss for the year and total comprehensive income | - |
( |
(6,692) |
As at 31 July 2018 and 1 August 2018 |
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( |
(6,581) |
Loss for the year and total comprehensive income | - |
( |
(3,571) |
As at |
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( |
(10,152) |
Page 5
Property Design and Development Limited
Notes to the Financial Statements
For The Year Ended 31 July 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate. The company has net liabilities but has the continued support of its director who is also the main creditor.
1.3.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2018: 1)
3.
Debtors
2019 | 2018 | ||
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£ | £ | ||
Due within one year | |||
Other debtors |
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Page 6
Property Design and Development Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2019
4.
Creditors: Amounts Falling Due Within One Year
2019 | 2018 | ||
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£ | £ | ||
Trade creditors |
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Corporation tax |
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Other creditors |
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Director's loan account |
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6.
General Information
Property Design and Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6320858 . The registered office is 8 Bowden Park Road, Crownhill, Plymouth, PL6 5NF.
Page 7