Sofrabec Property Investments Ltd 12410687 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is that of Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 12410687 2022-02-01 2023-01-31 12410687 2023-01-31 12410687 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-31 12410687 core:CurrentFinancialInstruments 2023-01-31 12410687 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 12410687 core:Non-currentFinancialInstruments 2023-01-31 12410687 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 12410687 bus:SmallEntities 2022-02-01 2023-01-31 12410687 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12410687 bus:FullAccounts 2022-02-01 2023-01-31 12410687 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12410687 bus:RegisteredOffice 2022-02-01 2023-01-31 12410687 bus:Director1 2022-02-01 2023-01-31 12410687 bus:Director2 2022-02-01 2023-01-31 12410687 bus:OrdinaryShareClass1 bus:OtherShareType 2022-02-01 2023-01-31 12410687 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12410687 countries:AllCountries 2022-02-01 2023-01-31 12410687 2022-01-31 12410687 2021-02-01 2022-01-31 12410687 2022-01-31 12410687 bus:OrdinaryShareClass1 bus:OtherShareType 2022-01-31 12410687 core:CurrentFinancialInstruments 2022-01-31 12410687 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 12410687 core:Non-currentFinancialInstruments 2022-01-31 12410687 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12410687

Sofrabec Property Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Sofrabec Property Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Sofrabec Property Investments Ltd

Company Information

Directors

Mr Francesco Antonio Oppido

Mrs Rebecca Alicia Oppido

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Sofrabec Property Investments Ltd

(Registration number: 12410687)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

741,632

537,041

Current assets

 

Debtors

5

54,985

2,900

Cash at bank and in hand

 

7,994

235

 

62,979

3,135

Creditors: Amounts falling due within one year

6

(225,652)

(173,281)

Net current liabilities

 

(162,673)

(170,146)

Total assets less current liabilities

 

578,959

366,895

Creditors: Amounts falling due after more than one year

6

(576,851)

(366,716)

Net assets

 

2,108

179

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,008

79

Shareholders' funds

 

2,108

179

For the financial year ending 31 January 2023 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 year 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 24 October 2023 and signed on its behalf by:
 

 

Sofrabec Property Investments Ltd

(Registration number: 12410687)
Balance Sheet as at 31 January 2023

.........................................
Mrs Rebecca Alicia Oppido
Director

 

Sofrabec Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the Board on 24 October 2023.

The company registration number is 12410687

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

 

Sofrabec Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Sofrabec Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Investment properties

2023
£

At 1 February

537,041

Additions

204,591

At 31 January

741,632

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

5

Debtors

Current

2023
£

2022
£

Other debtors

54,985

2,900

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

143,687

85,046

Accruals and deferred income

 

300

300

Other creditors

 

81,665

87,935

 

225,652

173,281

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

576,851

366,716

 

Sofrabec Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

576,851

366,716