Property Professionals South West Limited - Period Ending 2023-03-31
Property Professionals South West Limited - Period Ending 2023-03-31
Registration number:
Property Professionals
South West Limited
for the Year Ended 31 March 2023
FRS 102 1A Filleted
Property Professionals South West Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Property Professionals South West Limited
Company Information
Director |
LG Hurford |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Property Professionals South West Limited
for the Year Ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Property Professionals South West Limited for the year ended 31 March 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Property Professionals South West Limited, as a body, in accordance with the terms of our engagement letter dated 1 June 2009. Our work has been undertaken solely to prepare for your approval the accounts of Property Professionals South West Limited and state those matters that we have agreed to state to the Board of Directors of Property Professionals South West Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-
audit-exempt-companies.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Property Professionals South West Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Property Professionals South West Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Property Professionals South West Limited. You consider that Property Professionals South West Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Property Professionals South West Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW
Property Professionals South West Limited
(Registration number: 06916435)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
|||
Debtors |
- |
|
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Cash at bank and in hand |
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|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
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Net assets |
|
|
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Capital and reserves |
|||
Called up share capital |
100 |
100 |
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Retained earnings |
7,484 |
8,083 |
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Shareholders' funds |
7,584 |
8,183 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Property Professionals South West Limited
(Registration number: 06916435)
Balance Sheet as at 31 March 2023
Approved and authorised by the
......................................... |
Property Professionals South West Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
38 Weatherbury Way
Dorchester
Dorset
DT1 2EF
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Property Professionals South West Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
20% reducing balance basis |
Office Equipment |
25% reducing balance basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Property Professionals South West Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2022 |
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Disposals |
( |
( |
( |
At 31 March 2023 |
- |
- |
- |
Depreciation |
|||
At 1 April 2022 |
|
|
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Eliminated on disposal |
( |
( |
( |
At 31 March 2023 |
- |
- |
- |
Carrying amount |
|||
At 31 March 2023 |
- |
- |
- |
At 31 March 2022 |
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|
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Property Professionals South West Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
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100 |