ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

MY PROPERTY FILE 1 LIMITED - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 2020-09-302020-09-300The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2019-09-12falseNo description of principal activity0truetrue 12203001 2019-09-11 12203001 2019-09-12 2020-09-30 12203001 2018-09-12 2019-09-11 12203001 2020-09-30 12203001 c:Director1 2019-09-12 2020-09-30 12203001 c:Director1 2020-09-30 12203001 c:Director2 2019-09-12 2020-09-30 12203001 c:Director2 2020-09-30 12203001 c:Director3 2019-09-12 2020-09-30 12203001 c:Director3 2020-09-30 12203001 c:RegisteredOffice 2019-09-12 2020-09-30 12203001 d:CurrentFinancialInstruments 2020-09-30 12203001 d:Non-currentFinancialInstruments 2020-09-30 12203001 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 12203001 d:Non-currentFinancialInstruments d:AfterOneYear 2020-09-30 12203001 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-09-30 12203001 d:ShareCapital 2019-09-12 2020-09-30 12203001 d:ShareCapital 2020-09-30 12203001 d:RetainedEarningsAccumulatedLosses 2019-09-12 2020-09-30 12203001 d:RetainedEarningsAccumulatedLosses 2020-09-30 12203001 c:FRS102 2019-09-12 2020-09-30 12203001 c:AuditExempt-NoAccountantsReport 2019-09-12 2020-09-30 12203001 c:FullAccounts 2019-09-12 2020-09-30 12203001 c:PrivateLimitedCompanyLtd 2019-09-12 2020-09-30 iso4217:GBP xbrli:pure

Registered number: 12203001









PROPERTY PURCHASING 1 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2020
 
PROPERTY PURCHASING 1 LIMITED
 
 
COMPANY INFORMATION


Directors
N Davies (appointed 12 September 2019, resigned 13 July 2020)
J Devonshire (appointed 1 March 2020, resigned 19 February 2021)
N Raval (appointed 1 October 2020)




Registered number
12203001



Registered office
First Floor, 27 Charlotte Road

London

EC2A 3PB




 
PROPERTY PURCHASING 1 LIMITED
 

CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5

 
PROPERTY PURCHASING 1 LIMITED
REGISTERED NUMBER: 12203001

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2020

2020
Note
£

  

Current assets
  

Stocks
 3 
960,200

Debtors: amounts falling due within one year
 4 
101,604

Cash at bank and in hand
 5 
119,044

  
1,180,848

Creditors: amounts falling due within one year
 6 
(1,102,303)

Net current assets
  
 
 
78,545

Total assets less current liabilities
  
78,545

Creditors: amounts falling due after more than one year
 7 
(50,197)

  

Net assets
  
28,348


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
28,248

  
28,348


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. 

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 June 2021.



N Raval
Director

Page 1
 
PROPERTY PURCHASING 1 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2020


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
28,248
28,248


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
28,248
28,248

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 30th September 2020
100
28,248
28,348

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
PROPERTY PURCHASING 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2020

1.


General information

Property Purchasing 1 Limited is a limited company domiciled and incorporated in England and
Wales. The registered office is First floor, 27 Charlotte Road, London, England, EC2A 3PB

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue from the sale of properties is recognised when the significant risks and rewards of ownership have transferred to the buyers, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity and the costs incurred, or to be incurred, in respect of the transactions can be measured reliably. This is usually on legal completion of the sale. 

 
2.3

Stocks

Stock are stated at cost. Cost includes all costs of purchase and other costs incurred in bringing the stock to suitable condition. Stock represents properties held for resale. 

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short term creditors are measured at the transaction price.

Page 3
 
PROPERTY PURCHASING 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2020

3.


Stocks

2020
£

Finished goods and goods for resale
960,200

960,200



4.


Debtors

2020
£


Amounts owed by group undertakings
92,723

Other debtors
8,881

101,604



5.


Cash and cash equivalents

2020
£

Cash at bank and in hand
119,044

119,044



6.


Creditors: Amounts falling due within one year

2020
£

Other loans
1,034,416

Trade creditors
5,135

Amounts owed to group undertakings
53,397

Accruals and deferred income
9,355

1,102,303


Page 4
 
PROPERTY PURCHASING 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2020

7.


Creditors: Amounts falling due after more than one year

2020
£

Bank loans
50,197

50,197



8.


Loans


Analysis of the maturity of loans is given below:


2020
£

Amounts falling due within one year

Other loans
1,034,416


1,034,416


Amounts falling due 2-5 years

Bank loans
50,197


50,197


1,084,613


Page 5