Registration number:
Propertunity Investment Ltd
for the Year Ended 31 December 2020
Propertunity Investment Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Propertunity Investment Ltd
Company Information
Director |
RA Wilson |
Registered office |
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Propertunity Investment Ltd
(Registration number: 11109978)
Balance Sheet as at 31 December 2020
Note |
2020 |
2019 |
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Current assets |
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Stocks |
|
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Profit and loss account |
(1,527) |
(1,049) |
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Shareholders' deficit |
(1,427) |
(949) |
For the financial 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.
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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Propertunity Investment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11109978.
The address of its registered office is:
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Going concern
The financial statements have been prepared on a going concern basis as the director has indicated their willingness to continue to support the company.
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Propertunity Investment Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Stocks |
2020 |
2019 |
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Other inventories |
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Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Other creditors |
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Accruals and deferred income |
780 |
402 |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
At the year end, the company owed the director £77,540 (2019: £77,540) in respect of a current account balance. Loans made to the company by the director are unsecured, interest free and repayable on demand.