Registered number
05949565
SBA Property Limited
Filleted Accounts
31 December 2021
SBA Property Limited
Registered number: 05949565
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Investments 3 461,211 461,211
Current assets
Cash at bank and in hand 11,252 8,898
Creditors: amounts falling due within one year 4 (60,141) (66,484)
Net current liabilities (48,889) (57,586)
Total assets less current liabilities 412,322 403,625
Creditors: amounts falling due after more than one year 5 (605,908) (605,908)
Net liabilities (193,586) (202,283)
Capital and reserves
Called up share capital 100 100
Profit and loss account (193,686) (202,383)
Shareholders' funds (193,586) (202,283)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L Eskholme
Director
Approved by the board on 2 September 2022
SBA Property Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The company has been able to continue trading due to the support of the directors and the parent company Strategic Business Acquisitions Limited. The directors and parent company have confirmed their continuing financial support and accordingly the accounts have been drawn up on a going concern basis.
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company - -
3 Investments
Other
investments
£
Cost
At 1 January 2021 461,211
At 31 December 2021 461,211
Historical cost
At 1 January 2021 461,210
At 31 December 2021 461,210
The investment properties were valued at 31 December 2021 by the directors at their market value.
4 Creditors: amounts falling due within one year 2021 2020
£ £
Taxation and social security costs 2,207 4,552
Other creditors 57,934 61,932
60,141 66,484
5 Creditors: amounts falling due after one year 2021 2020
£ £
Other creditors 605,908 605,908
6 Loans 2021 2020
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 127,366 127,366
Secured bank loans 127,366 127,366
Bank loans are secured upon the company's investment properties.
7 Related party transactions
At the period end the company owed it's parent company, Strategic Business Acquisitions Limited £478,538 (2020 - £478,538). Brandrick's Lodge Consultancy Limited is a company related by common control. At the balance sheet date £36,200 (2020: £36,200) was owed to Brandrick's Lodge Consultancy Limited.
8 Controlling party
The company is controlled by the directors.
9 Other information
SBA Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Sevan Associates Limited
JR House, Office No 4&5
Main Avenue, Treforest Industrial Estate
Pontypridd
CF37 5UR
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