Proparity Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03885395 (England and Wales)

Unaudited Financial Statements

for the Period 1 May 2018 to 31 July 2019

for

PROPARITY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs D B Kelly-Urch

REGISTERED OFFICE:

Fairway House

Links Business Park

St. Mellons

Cardiff

CF3 0LT

REGISTERED NUMBER:

03885395 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Tangible assets

4

2,284,212

2,512,268

CURRENT ASSETS

Debtors

5

-

40,992

Cash at bank and in hand

23,809

38,584

23,809

79,576

CREDITORS

Amounts falling due within one year

6

(674,313

)

(736,903

)

NET CURRENT LIABILITIES

(650,504

)

(657,327

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,633,708

1,854,941

CREDITORS

Amounts falling due after more than one year

7

(1,318,882

)

(1,337,979

)

NET ASSETS

314,826

516,962

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

-

235,116

Retained earnings

314,726

281,746

SHAREHOLDERS' FUNDS

314,826

516,962

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

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

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 22 May 2020 and were signed by:

Mrs D B Kelly-Urch - Director

1.	STATUTORY INFORMATION

Proparity Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

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 accounts have been prepared on a going concern basis. This basis has been adopted based

upon assurances given by the director that she will continue to support the company.

Tangible fixed assets

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

Freehold property

-

in accordance with the property

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

property

property

Totals

£

£

£

COST

At 1 May 2018

2,499,243

13,025

2,512,268

Additions

-

7,060

7,060

Impairments

(235,116

)

-

(235,116

)

At 31 July 2019

2,264,127

20,085

2,284,212

NET BOOK VALUE

At 31 July 2019

2,264,127

20,085

2,284,212

At 30 April 2018

2,499,243

13,025

2,512,268

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

40,992

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

32,888

15,489

Social security and other taxes

7,413

5,533

Other creditors

595,991

705,025

Accrued expenses

38,021

10,856

674,313

736,903

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans more 5yrs instal

1,318,882

1,337,979

2019

2018

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

1,318,882

1,337,979

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Other loans

1,318,882

1,337,979

9.

RESERVES

Revaluation

reserve

£

At 1 May 2018

235,116

Impairments

(235,116

)

At 31 July 2019

-

10.	RELATED PARTY DISCLOSURES

Mrs D. Urch is also a director of Urch Properties Ltd.

Within other creditors is an amount owed to Urch Properties Limited for £373,491 (2018 - £479,525).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Philip Barton by virtue of owning all the equity in the company.