Prime Property Management (Guildford) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08325064 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2021

for

Prime Property Management (Guildford)

Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

P M Smith

Mrs J V Smith

REGISTERED OFFICE:

92 Park Street

Camberley

Surrey

GU15 3NY

REGISTERED NUMBER:

08325064 (England and Wales)

ACCOUNTANTS:

Butt Miller

Chartered Accountants

92 Park Street

Camberley

Surrey

GU15 3NY

FIXED ASSETS

Tangible assets

4

667

892

CURRENT ASSETS

Cash at bank

152,377

154,368

CREDITORS

Amounts falling due within one year

5

(74,796

)

(65,904

)

NET CURRENT ASSETS

77,581

88,464

TOTAL ASSETS LESS CURRENT LIABILITIES

78,248

89,356

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

78,246

89,354

78,248

89,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 12 November 2021 and were signed on its behalf by:

P M Smith - Director

1.	STATUTORY INFORMATION

Prime Property Management (Guildford) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Income relates to rents receivable and is recognised over the term of the rental.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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 statement of financial position date.

Operating leases

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2020

and 30 April 2021

3,785

DEPRECIATION

At 1 May 2020

2,893

Charge for year

225

At 30 April 2021

3,118

NET BOOK VALUE

At 30 April 2021

667

At 30 April 2020

892

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Tax

966

505

Other creditors

-

45

Directors' current accounts

66,660

61,641

Deferred income

5,250

1,792

Accrued expenses

1,920

1,921

74,796

65,904

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

30,000

30,000

Between one and five years

-

30,000

30,000

60,000

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2021 and 30 April 2020:

2021

2020

£

£

P M Smith and Mrs J V Smith

Balance outstanding at start of year

(61,641

)

(44,482

)

Amounts advanced

40,768

18,950

Amounts repaid

(45,787

)

(36,109

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(66,660

)

(61,641

)

The above loan is unsecured, interest free and repayable on demand.