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 2021

for

Property inc. Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

65,323

-

CURRENT ASSETS

Debtors

5

87,894

39,360

Cash at bank and in hand

28,636

20,012

116,530

59,372

CREDITORS

Amounts falling due within one year

6

128,230

59,271

NET CURRENT (LIABILITIES)/ASSETS

(11,700

)

101

TOTAL ASSETS LESS CURRENT LIABILITIES

53,623

101

CREDITORS

Amounts falling due after more than one year

7

53,000

-

NET ASSETS

623

101

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

621

99

623

101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 31 March 2022 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.

Tangible fixed assets

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

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 5 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

Additions

10,000

59,193

69,193

At 31 March 2021

10,000

59,193

69,193

DEPRECIATION

Charge for year

-

3,870

3,870

At 31 March 2021

-

3,870

3,870

NET BOOK VALUE

At 31 March 2021

10,000

55,323

65,323

5.

DEBTORS

31.3.21

31.3.20

£

£

Amounts falling due within one year:

Trade debtors

75,879

27,345

Amounts falling due after more than one year:

Other debtors

12,015

12,015

Aggregate amounts

87,894

39,360

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

-

1

Taxation and social security

128,173

59,213

Other creditors

57

57

128,230

59,271

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

53,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

53,000

-