Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-302021-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity11falsetrue 12069284 2021-07-01 2022-06-30 12069284 2020-07-01 2021-06-30 12069284 2022-06-30 12069284 2021-06-30 12069284 c:Director1 2021-07-01 2022-06-30 12069284 c:RegisteredOffice 2021-07-01 2022-06-30 12069284 d:FurnitureFittings 2021-07-01 2022-06-30 12069284 d:FurnitureFittings 2022-06-30 12069284 d:FurnitureFittings 2021-06-30 12069284 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 12069284 d:FreeholdInvestmentProperty 2022-06-30 12069284 d:FreeholdInvestmentProperty 2021-06-30 12069284 d:CurrentFinancialInstruments 2022-06-30 12069284 d:CurrentFinancialInstruments 2021-06-30 12069284 d:Non-currentFinancialInstruments 2022-06-30 12069284 d:Non-currentFinancialInstruments 2021-06-30 12069284 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 12069284 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 12069284 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 12069284 d:Non-currentFinancialInstruments d:AfterOneYear 2021-06-30 12069284 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-06-30 12069284 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-06-30 12069284 d:ShareCapital 2022-06-30 12069284 d:ShareCapital 2021-06-30 12069284 d:RetainedEarningsAccumulatedLosses 2022-06-30 12069284 d:RetainedEarningsAccumulatedLosses 2021-06-30 12069284 c:OrdinaryShareClass1 2021-07-01 2022-06-30 12069284 c:OrdinaryShareClass1 2022-06-30 12069284 c:OrdinaryShareClass1 2021-06-30 12069284 c:FRS102 2021-07-01 2022-06-30 12069284 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 12069284 c:FullAccounts 2021-07-01 2022-06-30 12069284 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 12069284 4 2021-07-01 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 12069284












SBP9 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

 

SBP9 LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 9

 

SBP9 LTD
 
COMPANY INFORMATION


Director
Sheikh Hamad Nasser Al-Thani 




Registered number
12069284



Registered office
16 Great Queen Street

Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:12069284
SBP9 LTD

BALANCE SHEET
AS AT 30 JUNE 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
73,121
91,514

Investment property
 5 
9,783,346
9,783,346

  
9,856,467
9,874,860

Current assets
  

Debtors: amounts falling due within one year
 6 
56,338
29,122

Cash at bank and in hand
  
89,418
59,741

  
145,756
88,863

Creditors: amounts falling due within one year
 7 
(3,381,072)
(3,449,327)

Total assets less current liabilities
  
 
 
6,621,151
 
 
6,514,396

Creditors: amounts falling due after more than one year
 8 
(6,632,500)
(6,632,500)

  

Net liabilities
  
(11,349)
(118,104)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(11,449)
(118,204)

Total deficit
  
(11,349)
(118,104)

Page 2


 
REGISTERED NUMBER:12069284
SBP9 LTD
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2022

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Sheikh Hamad Nasser Al-Thani
Director

Date: 18 October 2023

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 

SBP9 LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

SBP9 Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling £, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue compromises of rental income, service charges and other recoveries from tenants of the Company's investment properties. Rental income is recognised on an accruals basis in the period in which it is earned in accordance with the terms of the lease.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 

SBP9 LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


2.8

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 5

 

SBP9 LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 

SBP9 LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

  
2.11

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

 
2.12

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.






3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2021
91,514



At 30 June 2022

91,514



Depreciation


Charge for the year on owned assets
18,393



At 30 June 2022

18,393



Net book value



At 30 June 2022
73,121



At 30 June 2021
91,514

Page 7

 

SBP9 LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

5.


Investment property


Investment property

£



Valuation


At 1 July 2021
9,783,346



At 30 June 2022
9,783,346

The 2022 valuations were made by the director, on an open market value for existing use basis.







6.


Debtors

2022
2021
£
£


Other debtors
11,857
11,857

Called up share capital not paid
100
100

Prepayments and accrued income
44,381
17,165

56,338
29,122



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
493
3,301

Amounts owed to associated companies
99,473
95,678

Corporation tax
6,078
-

Other creditors
3,166,285
3,266,285

Accruals and deferred income
108,743
84,063

3,381,072
3,449,327



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
6,632,500
6,632,500


Page 8

 

SBP9 LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£




Amounts falling due after more than 5 years

Bank loans
6,632,500
6,632,500


The bank loan is secured by a fixed charge over the assets of the company.


10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



11.


Controlling party

The controlling party is SBP9 Ltd a company registered in the British Virgin Islands.
 
Page 9