01 Property Services Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06289245 (England and Wales)

01 Property Services Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2022

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Lower

Mrs G E Lower

SECRETARY:

M G Lower

REGISTERED OFFICE:

The Courtyard House

Horsham Road

Cowfold

West Sussex

RH13 8BX

REGISTERED NUMBER:

06289245 (England and Wales)

ACCOUNTANTS:

M Goddard & Co

Chartered Accountants

69 Tupwood Lane

Caterham

Surrey

CR3 6DD

FIXED ASSETS

Tangible assets

4

5,388

21,878

CURRENT ASSETS

Debtors

161

47,438

Cash at bank and in hand

1,502

3,783

1,663

51,221

CREDITORS

Amounts falling due within one year

69,064

86,967

NET CURRENT LIABILITIES

(67,401

)

(35,746

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(62,013

)

(13,868

)

CREDITORS

Amounts falling due after more than one year

39,682

41,357

NET LIABILITIES

(101,695

)

(55,225

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(101,696

)

(55,226

)

SHAREHOLDERS' FUNDS

(101,695

)

(55,225

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 December 2022 and were signed on its behalf by:

M G Lower - Director

1.	STATUTORY INFORMATION

01 Property Services 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 represents net invoiced sales of services and a provision for work done but not actually invoiced at the year end, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 20% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 1 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2021

58,405

Disposals

(37,676

)

At 30 June 2022

20,729

DEPRECIATION

At 1 July 2021

36,527

Charge for year

4,730

Eliminated on disposal

(25,916

)

At 30 June 2022

15,341

NET BOOK VALUE

At 30 June 2022

5,388

At 30 June 2021

21,878

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 July 2021

18,300

Disposals

(18,300

)

At 30 June 2022

-

DEPRECIATION

At 1 July 2021

7,149

Charge for year

2,788

Eliminated on disposal

(9,937

)

At 30 June 2022

-

NET BOOK VALUE

At 30 June 2022

-

At 30 June 2021

11,151

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M G Lower.