Property inc. Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10697791 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Property inc. Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Kanani

J Hussain

SECRETARY:

REGISTERED OFFICE:

7 Turnpike Parade

Green Lanes

London

N15 3EA

REGISTERED NUMBER:

10697791 (England and Wales)

ACCOUNTANTS:

KALA ATKINSON

Chartered Certified Accountants

& Statutory Auditors

43 Upton Lane

Forest Gate

London

E7 9PA

CURRENT ASSETS

Debtors

4

39,360

2,850

Cash at bank and in hand

20,012

3,883

59,372

6,733

CREDITORS

Amounts falling due within one year

5

59,271

30,870

NET CURRENT ASSETS/(LIABILITIES)

101

(24,137

)

TOTAL ASSETS LESS CURRENT LIABILITIES

101

(24,137

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

99

(24,139

)

101

(24,137

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 4 February 2021 and were signed on its behalf by:

J Hussain - Director

1.	STATUTORY INFORMATION

Property inc. Ltd 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.

Turnover

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

value added tax and other sales taxes.

Taxation

Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 2 ) .

4.

DEBTORS

31.3.20

31.3.19

£

£

Amounts falling due within one year:

Trade debtors

27,345

2,850

Amounts falling due after more than one year:

Other debtors

12,015

-

Aggregate amounts

39,360

2,850

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

1

-

Taxation and social security

59,213

14,505

Other creditors

57

16,365

59,271

30,870