Property Provider Ltd
Property Provider Ltd
Registered number: 11381518
Unaudited Financial Statements
For The Year Ended 31 December 2019
Accountum Limited
Property Provider Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Property Provider Ltd
Balance Sheet
As at
31 December 2019
Balance Sheet
Registered number:
11381518
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
|---|---|---|---|---|---|
| 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 LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Share premium account |
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| Other reserves |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (3,434) | (1,500) | |||
Page 1
Property Provider Ltd
Balance Sheet (continued)
As at
31 December 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their 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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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Property Provider Ltd
Notes to the Financial Statements
For The Year Ended 31 December 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 not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5.
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 initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
1.6.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2018: NIL)
Page 3
Property Provider Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2019
3.
Debtors
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Amounts owed by group undertakings |
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Amounts owed by group undertakings are repayable on demand and carry no interest.
4.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Amounts owed to group undertakings |
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Amounts due to group undertakings are repayable on demand and carry no interest.
6.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Sergey Kazachenko |
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The above loan is unsecured, interest free and repayable on demand.
7.
Reserves
Other reserves included in equity in the balance sheet relate to capital contribution reserves as invested from the parent company.
Page 4
Property Provider Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2019
8.
Related Party Transactions
Scandinavian Capital Holdings Ltd
Parent company (80% ownership).
Loan due to parent company £8,122 (2018: nil).
Other than the above, the company has taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group. There were no other related party transactions to disclose.
9.
Ultimate Controlling Party
The company is owned and controlled by S Kazachenko, a director of the company, by virtue of his 100% ownership of the share capital of the parent company Scandinavian Capital Holdings Limited.
10.
General Information
Property Provider Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11381518 . The registered office is Sweden house, 5 Upper Montagu Street, London, United Kingdom, W1H 2AG.
The previous accounting period was a short period for the 7 months to 31 December 2018.
Page 5