Property Mantra Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11147659 (England and Wales)

Unaudited Financial Statements

for the Period 1 February 2022 to 31 March 2023

for

Property Mantra Limited

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

-

153,000

CURRENT ASSETS

Debtors

5

14,183

-

Cash at bank

-

42

14,183

42

CREDITORS

Amounts falling due within one year

6

8,831

57,740

NET CURRENT ASSETS/(LIABILITIES)

5,352

(57,698

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,352

95,302

CREDITORS

Amounts falling due after more than one year

7

-

(74,214

)

PROVISIONS FOR LIABILITIES

-

(4,011

)

NET ASSETS

5,352

17,077

CAPITAL AND RESERVES

Called up share capital

8

100

100

Fair value reserve

9

-

27,197

Retained earnings

5,252

(10,220

)

SHAREHOLDERS' FUNDS

5,352

17,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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 8 March 2024 and were signed on its behalf by:

Mr Amandeep Thind - Director

1.	STATUTORY INFORMATION

Property Mantra Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11147659

Registered office:

11 Ward Gardens

Slough

United Kingdom

SL1 5ED

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

All investment properties as at balance sheet date have been sold.

Taxation

Taxation for the period 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

153,000

Disposals

(121,792

)

Revaluations

(31,208

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 January 2022

153,000

Fair value at 31 March 2023 is represented by:

£

Valuation in 2021

33,208

Valuation in 2022

(2,000

)

31,208

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.1.22

£

£

Other debtors

14,183

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.1.22

£

£

Taxation and social security

1,261

-

Other creditors

7,570

57,740

8,831

57,740

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.1.22

£

£

Other creditors

-

74,214

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.1.22

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Fair

value

reserve

£

At 1 February 2022

27,197

Transfer to/from reserves

(27,197

)

At 31 March 2023

-

10.	RELATED PARTY DISCLOSURES

The company owes £5,110 to its director, Mr Amandeep Thind who is also a sole shareholder of the company as at accounting year end date.

The company was owed £14,183 as at accounting year end date from Brilliance Academy Limited, a company registered in United Kingdom (Company registered number: 7576394). Mr Amandeep Thind is also a director and sole shareholder of this company.