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COMPANY REGISTRATION NUMBER: 03340127
Sedona Estates (UK) Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2022
Sedona Estates (UK) Limited
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Investments
6
976,951
875,001
Current assets
Debtors
7
512
541
Cash at bank and in hand
5,156
1,637
-------
-------
5,668
2,178
Creditors: amounts falling due within one year
8
13,110
11,738
--------
--------
Net current liabilities
7,442
9,560
---------
---------
Total assets less current liabilities
969,509
865,441
Creditors: amounts falling due after more than one year
9
28,380
43,519
Provisions
Taxation including deferred tax
96,748
77,378
---------
---------
Net assets
844,381
744,544
---------
---------
Sedona Estates (UK) Limited
Statement of Financial Position (continued)
31 March 2022
2022
2021
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Revaluation reserve
641,536
558,956
Profit and loss account
202,745
185,488
---------
---------
Shareholders funds
844,381
744,544
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 September 2022 , and are signed on behalf of the board by:
R C Hart
Director
Company registration number: 03340127
Sedona Estates (UK) Limited
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Flitwick Road, Maulden, Bedfordshire, MK45 2BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Going concern
The worldwide spread of Coronavirus has continued to affect the way the company operates and the markets it operates in. The company is making appropriate adjustments in terms of how it operates and to protect its employees. The UK Government is providing a package of financial support to protect companies and these are being accessed as is necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tax on profit
Major components of tax expense
2022
2021
£
£
Current tax:
UK current tax expense
4,072
3,604
Deferred tax:
Origination and reversal of timing differences
19,370
6,650
--------
--------
Tax on profit
23,442
10,254
--------
--------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2021
875,001
Revaluations
101,950
---------
At 31 March 2022
976,951
---------
Impairment
At 1 April 2021 and 31 March 2022
---------
Carrying amount
At 31 March 2022
976,951
---------
At 31 March 2021
875,001
---------
7. Debtors
2022
2021
£
£
Other debtors
512
541
----
----
8. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
4,371
4,371
Social security and other taxes
4,072
3,604
Other creditors
4,667
3,763
--------
--------
13,110
11,738
--------
--------
9. Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
28,380
43,519
--------
--------