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REGISTERED NUMBER: 08329086 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SAFE AND SOUND PROPERTY DEVELOPMENTS LTD

SAFE AND SOUND PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 08329086)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAFE AND SOUND PROPERTY DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mr T Philippou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 08329086 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

SAFE AND SOUND PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 08329086)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Stocks 4 9,965 8,008
Debtors 5 162,714 208,538
Cash at bank and in hand 18,001 10,363
190,680 226,909
CREDITORS
Amounts falling due within one year 6 79,966 100,919
NET CURRENT ASSETS 110,714 125,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,714

125,990

CREDITORS
Amounts falling due after more than one
year

7

24,782

34,420
NET ASSETS 85,932 91,570

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 85,931 91,569
SHAREHOLDERS' FUNDS 85,932 91,570

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SAFE AND SOUND PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 08329086)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





Mr T Philippou - Director


SAFE AND SOUND PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 08329086)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Safe and Sound Property Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Government grants
Government grants represents income received in the form of the Job Retention Scheme (JRS), small business grant fund (SBGF) ) received from the Government during the COVID-19 pandemic.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Government grants
Government grants represent income received in the form of the Job Retention Scheme (JRS). The Government Grant also represents the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

SAFE AND SOUND PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 08329086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. STOCKS
31.12.22 31.12.21
£    £   
Work-in-progress 9,965 8,008

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 28,236 10,286
Other debtors 5,500 3,000
Amounts due from related company 111,527 152,250
Tax 17,451 43,002
162,714 208,538

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Trade creditors 9,607 9,730
Tax 25,852 23,323
Social security and other taxes - 72
VAT 9,883 3,448
Amounts due to related company 18,188 50,411
Directors' current accounts 936 935
Accrued expenses 5,500 3,000
79,966 100,919

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans (see note 8) 24,782 34,420

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,782 24,420

8. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

SAFE AND SOUND PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 08329086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


8. LOANS - continued
31.12.22 31.12.21
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,782 24,420

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1 Ordinary £1 1 1