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REGISTERED NUMBER: 03541194 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Sussex Heritage Properties Limited

Sussex Heritage Properties Limited (Registered number: 03541194)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Sussex Heritage Properties Limited (Registered number: 03541194)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible fixed assets 4 - -
Investments 5 4 4
Investment property 6 1,642,124 1,375,324
1,642,128 1,375,328

Current assets
Debtors 7 53,324 373,685
Cash at bank 43,738 4,817
97,062 378,502
Creditors: amounts falling due within
one year

8

422,016

461,830
Net current liabilities (324,954 ) (83,328 )
Total assets less current liabilities 1,317,174 1,292,000

Provisions for liabilities 122,722 93,268
Net assets 1,194,452 1,198,732

Sussex Heritage Properties Limited (Registered number: 03541194)

Balance Sheet - continued
30 April 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 100 100
Fair value reserve 11 565,293 594,746
Retained earnings 629,059 603,886
Shareholders' funds 1,194,452 1,198,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:





C R Oakley - Director


Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. Statutory information

Sussex Heritage Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03541194

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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 rents receivable for the period.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 25% straight line

Investment property
Investment properties are measured at their fair value at the balance sheet date. The surplus or deficit on the fair value adjustment is recognised in the profit and loss account.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all 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.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Tangible fixed assets
Equipment
£   
Cost
At 1 May 2022
and 30 April 2023 3,527
Depreciation
At 1 May 2022
and 30 April 2023 3,527
Net book value
At 30 April 2023 -
At 30 April 2022 -

Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. Fixed asset investments
Other
investments
£   
Cost
At 1 May 2022
and 30 April 2023 4
Net book value
At 30 April 2023 4
At 30 April 2022 4

6. Investment property
Total
£   
Fair value
At 1 May 2022 1,375,324
Additions 266,800
At 30 April 2023 1,642,124
Net book value
At 30 April 2023 1,642,124
At 30 April 2022 1,375,324

The fair value of the properties at the balance sheet date was determined by the director. The open market value based on similar properties is assumed to be the fair value.

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 53,324 373,685

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts - 362,879
Trade creditors 240 2,580
Taxation and social security 5,904 4,965
Other creditors 415,872 91,406
422,016 461,830

Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 362,879

The bank loans are secured by a first legal mortgage on the freehold properties and a personal guarantee from the director.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
80 Ordinary A shares £1 80 80
20 Ordinary B shares £1 20 20
100 100

11. Reserves
Fair
value
reserve
£   
At 1 May 2022 594,746
Transfer (29,453 )

At 30 April 2023 565,293

12. Director's advances, credits and guarantees

At the year end, the directors owed the company £3,479 (2022: -£25,874).