Company Registration No. 05081209 (England and Wales)
PROPERTYEAST LIMITED
Unaudited accounts
for the year ended 31 March 2021
PROPERTYEAST LIMITED
Statement of financial position
as at 31 March 2021
Tangible assets
2,606,608
1,513,316
Cash at bank and in hand
4,859
13,501
Creditors: amounts falling due within one year
(306,537)
(1,186,398)
Net current assets/(liabilities)
481,151
(233,981)
Total assets less current liabilities
3,112,759
1,304,335
Creditors: amounts falling due after more than one year
(1,414,118)
-
Provisions for liabilities
Deferred tax
(1,591)
(1,591)
Net assets
1,697,050
1,302,744
Called up share capital
1,031,000
1,031,000
Revaluation reserve
376,867
-
Profit and loss account
289,183
271,744
Shareholders' funds
1,697,050
1,302,744
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2021 and were signed on its behalf by
Hans Daugaard-Hansen
Director
Company Registration No. 05081209
PROPERTYEAST LIMITED
Notes to the Accounts
for the year ended 31 March 2021
PROPERTYEAST LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05081209. The registered office is WINDSOR HOUSE, 2 YARMOUTH ROAD, NORWICH, NR7 0EB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on Buildings
Motor vehicles
20% reducing balance
Computer equipment
25% reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At valuation
At cost
At cost
At 1 April 2020
1,507,182
1,920
16,500
1,525,602
Revaluations
1,100,000
-
-
1,100,000
At 31 March 2021
2,607,182
1,920
16,500
2,625,602
At 1 April 2020
10,990
1,296
-
12,286
Charge for the year
3,060
348
3,300
6,708
At 31 March 2021
14,050
1,644
3,300
18,994
At 31 March 2021
2,593,132
276
13,200
2,606,608
At 31 March 2020
1,496,192
624
16,500
1,513,316
PROPERTYEAST LIMITED
Notes to the Accounts
for the year ended 31 March 2021
5
Investments
Other investments
Valuation at 1 April 2020
25,000
Valuation at 31 March 2021
25,000
6
Debtors: amounts falling due within one year
2021
2020
Amounts due from group undertakings etc.
775,675
938,916
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
85,768
1,009,889
Obligations under finance leases and hire purchase contracts
-
2,609
Trade creditors
2,679
6,862
Amounts owed to group undertakings and other participating interests
157,528
155,913
Taxes and social security
19,431
11,125
8
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
5,664
-
9
Average number of employees
During the year the average number of employees was 1 (2020: 1).
