ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

MY PROPERTY FILE 2 LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2021-08-312021-08-312022-05-312020-10-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12203072 2020-10-01 2021-08-31 12203072 2019-10-01 2020-09-30 12203072 2021-08-31 12203072 2020-09-30 12203072 c:Director1 2020-10-01 2021-08-31 12203072 c:Director1 2021-08-31 12203072 c:Director2 2020-10-01 2021-08-31 12203072 c:Director2 2021-08-31 12203072 c:Director3 2020-10-01 2021-08-31 12203072 c:Director3 2021-08-31 12203072 c:RegisteredOffice 2020-10-01 2021-08-31 12203072 d:CurrentFinancialInstruments 2021-08-31 12203072 d:CurrentFinancialInstruments 2020-09-30 12203072 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 12203072 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 12203072 d:ShareCapital 2020-10-01 2021-08-31 12203072 d:ShareCapital 2021-08-31 12203072 d:ShareCapital 2019-10-01 2020-09-30 12203072 d:ShareCapital 2020-09-30 12203072 d:RetainedEarningsAccumulatedLosses 2020-10-01 2021-08-31 12203072 d:RetainedEarningsAccumulatedLosses 2021-08-31 12203072 d:RetainedEarningsAccumulatedLosses 2020-09-30 12203072 c:FRS102 2020-10-01 2021-08-31 12203072 c:AuditExempt-NoAccountantsReport 2020-10-01 2021-08-31 12203072 c:FullAccounts 2020-10-01 2021-08-31 12203072 c:PrivateLimitedCompanyLtd 2020-10-01 2021-08-31 iso4217:GBP xbrli:pure

Registered number: 12203072









PROPERTY PURCHASING 2 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2021
 
PROPERTY PURCHASING 2 LIMITED
 
 
COMPANY INFORMATION


Directors
J Devonshire (resigned 19 February 2021)
N Raval (appointed 1 October 2020)
C Carrodus (appointed 12 April 2022)




Registered number
12203072



Registered office
First Floor, 27 Charlotte Road

London

EC2A 3PB




 
PROPERTY PURCHASING 2 LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Statement of changes in equity
3 - 4
Notes to the financial statements
5 - 6

 
PROPERTY PURCHASING 2 LIMITED
REGISTERED NUMBER: 12203072

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2021

31 August
30 September
2021
2020
Note
£
£

  

Current assets
  

Stocks
 3 
355,784
-

Debtors: amounts falling due within one year
 4 
18,613
100

  
374,397
100

Creditors: amounts falling due within one year
 5 
(431,231)
-

Net current (liabilities)/assets
  
 
 
(56,834)
 
 
100

Total assets less current liabilities
  
(56,834)
100

  

Net (liabilities)/assets
  
(56,834)
100


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(56,934)
-

  
(56,834)
100


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 May 2022.




N Raval
Director
Page 1
 
PROPERTY PURCHASING 2 LIMITED
REGISTERED NUMBER: 12203072
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2021


Page 2
 
PROPERTY PURCHASING 2 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2021


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1st October 2020
100
-
100


Comprehensive income for the period

Loss for the period

-
(56,934)
(56,934)


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
(56,934)
(56,934)


Total transactions with owners
-
-
-


At 31st August 2021
100
(56,934)
(56,834)


Page 3
 
PROPERTY PURCHASING 2 LIMITED
 

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


Called up share capital
Total equity

£
£


Other comprehensive income for the year
-
-


Total comprehensive income for the year
-
-

Shares issued during the year
100
100


Total transactions with owners
100
100


At 30th September 2020
100
100


Page 4
 
PROPERTY PURCHASING 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST AUGUST 2021

1.


General information

Property Purchasing 2 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 5
 
PROPERTY PURCHASING 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST AUGUST 2021

3.


Stocks

31 August
30 September
2021
2020
£
£

Finished goods and goods for resale
355,784
-

355,784
-



4.


Debtors

31 August
30 September
2021
2020
£
£


Amounts owed by group undertakings
18,613
100

18,613
100



5.


Creditors: Amounts falling due within one year

31 August
30 September
2021
2020
£
£

Other loans
351,466
-

Trade creditors
5,270
-

Amounts owed to group undertakings
74,468
-

Other creditors
27
-

431,231
-



6.


Related party transactions

The Company is exempt from disclosing related party transactions with companies that are wholly owned within the Group.

Page 6