SKW Properties SPV Ltd 13021027 false 2020-11-15 2021-11-30 2021-11-30 The principal activity of the company is Letting of property Digita Accounts Production Advanced 6.30.9574.0 true true 13021027 2020-11-15 2021-11-30 13021027 2021-11-30 13021027 core:RetainedEarningsAccumulatedLosses 2021-11-30 13021027 core:CurrentFinancialInstruments core:WithinOneYear 2021-11-30 13021027 core:Non-currentFinancialInstruments 2021-11-30 13021027 core:Non-currentFinancialInstruments core:AfterOneYear 2021-11-30 13021027 bus:SmallEntities 2020-11-15 2021-11-30 13021027 bus:AuditExemptWithAccountantsReport 2020-11-15 2021-11-30 13021027 bus:FullAccounts 2020-11-15 2021-11-30 13021027 bus:SmallCompaniesRegimeForAccounts 2020-11-15 2021-11-30 13021027 bus:RegisteredOffice 2020-11-15 2021-11-30 13021027 bus:Director1 2020-11-15 2021-11-30 13021027 bus:Director2 2020-11-15 2021-11-30 13021027 bus:PrivateLimitedCompanyLtd 2020-11-15 2021-11-30 13021027 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2020-11-15 2021-11-30 13021027 countries:AllCountries 2020-11-15 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 13021027

SKW Properties SPV Ltd

Annual Report and Unaudited Financial Statements

for the Period from 15 November 2020 to 30 November 2021

 

SKW Properties SPV Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

SKW Properties SPV Ltd

Company Information

Directors

Mr Simon Kevin Wright

Mrs Karen Wright

Registered office

218 Strand Road
Preston
Lancashire
PR1 8UJ

 

SKW Properties SPV Ltd

(Registration number: 13021027)
Balance Sheet as at 30 November 2021

Note

2021
£

Fixed assets

 

Investment property

4

105,865

Current assets

 

Cash at bank and in hand

 

1,702

Creditors: Amounts falling due within one year

5

(32,612)

Net current liabilities

 

(30,910)

Total assets less current liabilities

 

74,955

Creditors: Amounts falling due after more than one year

5

(75,957)

Net liabilities

 

(1,002)

Capital and reserves

 

Profit and loss account

(1,002)

Shareholders' deficit

 

(1,002)

For the financial period ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 Board on 12 August 2022 and signed on its behalf by:
 

.........................................
Mr Simon Kevin Wright
Director

.........................................
Mrs Karen Wright
Director

 
     
 

SKW Properties SPV Ltd

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
218 Strand Road
Preston
Lancashire
PR1 8UJ
England

These financial statements were authorised for issue by the Board on 12 August 2022.

2

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

SKW Properties SPV Ltd

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 30 November 2021

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2021
£

Additions

105,865

At 30 November

105,865

There has been no valuation of investment property by an independent valuer.

 

SKW Properties SPV Ltd

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 30 November 2021

5

Creditors

Creditors: amounts falling due within one year

2021
£

Due within one year

Director loan

1,011

Amounts owed to participating interest

31,000

Accruals and deferred income

600

Other creditors

1

32,612

Creditors: amounts falling due after more than one year

Note

2021
£

Due after one year

 

Loans and borrowings

6

75,957

6

Loans and borrowings

2021
£

Non-current loans and borrowings

Bank borrowings

75,957

7

Related party transactions

Summary of transactions with entities with joint control or significant interest

Related party loan
 Pro Drivers Preston Ltd, a company under the control of the shareholders advanced a loan to the company. The loan is interest free and repayable on demand. At the balance sheet date the loan is presented within creditors.