Seventy Four Propco Limited - Accounts to registrar (filleted) - small 18.2

Seventy Four Propco Limited - Accounts to registrar (filleted) - small 18.2

SEVENTY FOUR PROPCO LIMITED - Company Information

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REGISTERED NUMBER: 11742636 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

29 DECEMBER 2018 TO 31 DECEMBER 2019

FOR

SEVENTY FOUR PROPCO LIMITED
SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 29 December 2018 to 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SEVENTY FOUR PROPCO LIMITED

COMPANY INFORMATION
for the period 29 December 2018 to 31 December 2019







DIRECTORS: P R M Williams
Mrs L J Williams





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 11742636 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB
Page 1
SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

BALANCE SHEET
31 December 2019

Notes £    £   
FIXED ASSETS
Intangible assets 4 1,313
Tangible assets 5 994
Investments 6 100
2,407

CURRENT ASSETS
Stocks 2,247,222
Debtors 7 45,982
Cash at bank and in hand 5,792
2,298,996
CREDITORS
Amounts falling due within one year 8 2,336,131
NET CURRENT LIABILITIES (37,135 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(34,728
)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (34,828 )
(34,728 )

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 18 December 2020 and were signed on its behalf by:




P R M Williams - Director


The notes form part of these financial statements

Page 2
SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

NOTES TO THE FINANCIAL STATEMENTS
for the period 29 December 2018 to 31 December 2019

1. STATUTORY INFORMATION

Seventy Four Propco 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 NIL.

Page 3 continued...
SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 29 December 2018 to 31 December 2019

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 29 December 2018
and 31 December 2019 1,313
NET BOOK VALUE
At 31 December 2019 1,313
At 28 December 2018 1,313

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,491
At 31 December 2019 1,491
DEPRECIATION
Charge for period 497
At 31 December 2019 497
NET BOOK VALUE
At 31 December 2019 994

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2019 100
NET BOOK VALUE
At 31 December 2019 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 45,000
Prepayments 982
45,982

Page 4 continued...
SEVENTY FOUR PROPCO LIMITED (REGISTERED NUMBER: 11742636)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 29 December 2018 to 31 December 2019

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other loans 1,475,500
Trade creditors 23,897
VAT 2,064
Directors' current accounts 833,670
Accrued expenses 1,000
2,336,131

Page 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SEVENTY FOUR PROPCO LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seventy Four Propco Limited for the period ended 31 December 2019 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Seventy Four Propco Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Seventy Four Propco Limited and state those matters that we have agreed to state to the Board of Directors of Seventy Four Propco Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seventy Four Propco Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Seventy Four Propco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Seventy Four Propco Limited. You consider that Seventy Four Propco Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Seventy Four Propco 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 statutory financial statements.






LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB


Date: .............................................

This page does not form part of the statutory financial statements

Page 6