Property Provider Ltd
Property Provider Ltd
Registered number: 11381518
Unaudited Financial Statements
For The Year Ended
31 December 2020
Accountum Limited
Property Provider Ltd
Unaudited Financial Statements
For The Year Ended
31 December 2020
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—5 |
Property Provider Ltd
Balance Sheet
As at
31 December 2020
Balance Sheet
Registered number:
11381518
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Share premium account |
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| Other reserves |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (123,012) | (3,434) | |||
Property Provider Ltd
Balance Sheet (continued)
As at
31 December 2020
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 5 form part of these financial statements.
Property Provider Ltd
Notes to the Financial Statements
For The Year Ended
31 December 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
1.6.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2019: NIL)
3.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Amounts owed by group undertakings |
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Amounts owed by group undertakings are repayable on demand and carry interest of 12% p.a. The balance above includes interest receivable of £13,635 (also recorded in the profit and loss account, 2019: nil).
Property Provider Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
4.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Amounts owed to group undertakings |
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Amounts due to group undertakings are repayable on demand and carry interest of 12% p.a. Included in the above balance is interest payable of £9,657 (also reported in the profit and loss account, 2019: nil).
6.
Directors Advances, Credits and Guarantees
Included within other creditors are the following loans with directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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| £ | £ | £ | £ | £ | |
| Mr Sergey Kazachenko |
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( |
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The above loan is unsecured, repayable on demand and carries interest at 12% p.a. An amount of £305 has been charged to the profit and loss account in the year and remains payable at the balance sheet date.
7.
Reserves
Other reserves included in equity in the balance sheet relate to capital contribution reserves as invested from the parent company. The balance increased by £1,997 in the year from a brought forward balance of £216,362 as at 31 December 2019.
8.
Post Balance Sheet Events
There have been no significant events between the year end and the date of approval of these financial statements which would require a change to, or disclosure in, the financial statements other than the ongoing effects of the outbreak of the contagious disease COVID-19.
This remains an emerging global risk for all individuals and businesses. It is not clear for how long the current outbreak will last or how much more extensive it will become, or the further measures that will be taken by governments and others to seek to control the outbreak and its impact.
9.
Related Party Transactions
The company has taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group, in addition to only disclosing material transactions with related parties that were not conducted under normal market conditions. Therefore, there were no related party transactions to disclose.
10.
Ultimate Controlling Party
The immediate parent company is Scandinavian Capital Holdings Limited, a company incorporated in England & Wales at Sweden House, 5 Upper Montagu Street, London, W1H 2AG. Scandinavian Capital Holdings Limited is owned by Navian Investment Group AB, a company incorporated in Sweden, and which produces the consolidated accounts for the group. These can be requested from Slottsvagen 27, 183 52 Taby, Sweden.
11.
General Information
Property Provider Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11381518
. The registered office is Sweden House, 5 Upper Montagu Street, London, W1H 2AG.