IRIS Accounts Production v23.3.0.418 10744985 Board of Directors 1.5.22 30.4.23 30.4.23 0 0 false true false false true false Fair value model ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107449852022-04-30107449852023-04-30107449852022-05-012023-04-30107449852021-04-30107449852021-05-012022-04-30107449852022-04-3010744985ns10:Originalns15:EnglandWales2022-05-012023-04-3010744985ns14:PoundSterlingns10:Original2022-05-012023-04-3010744985ns10:Originalns10:Director12022-05-012023-04-3010744985ns10:Original2022-05-012023-04-3010744985ns10:Original2023-04-3010744985ns10:Originalns10:PrivateLimitedCompanyLtd2022-05-012023-04-3010744985ns10:Originalns10:SmallEntities2022-05-012023-04-3010744985ns10:Originalns10:AuditExempt-NoAccountantsReport2022-05-012023-04-3010744985ns10:SmallCompaniesRegimeForAccountsns10:Original2022-05-012023-04-3010744985ns10:Originalns10:FullAccounts2022-05-012023-04-3010744985ns10:Original2021-05-012022-04-3010744985ns10:Originalns10:OrdinaryShareClass12022-05-012023-04-3010744985ns10:Originalns10:Director22022-05-012023-04-3010744985ns10:Originalns10:RegisteredOffice2022-05-012023-04-3010744985ns10:Original2022-04-3010744985ns10:Originalns5:CurrentFinancialInstruments2023-04-3010744985ns10:Originalns5:CurrentFinancialInstruments2022-04-3010744985ns5:ShareCapitalns10:Original2023-04-3010744985ns5:ShareCapitalns10:Original2022-04-3010744985ns10:Originalns5:RevaluationReserve2023-04-3010744985ns10:Originalns5:RevaluationReserve2022-04-3010744985ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-3010744985ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3010744985ns10:Originalns5:FurnitureFittings2022-05-012023-04-3010744985ns10:Originalns5:FurnitureFittings2022-04-3010744985ns10:Originalns5:FurnitureFittings2023-04-3010744985ns10:Originalns5:FurnitureFittings2022-04-3010744985ns10:Original2022-04-3010744985ns10:Originalns10:OrdinaryShareClass12023-04-3010744985ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3010744985ns10:Originalns5:RevaluationReserve2022-04-3010744985ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-30
REGISTERED NUMBER: 10744985 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Susan Charles Properties Ltd

Susan Charles Properties Ltd (Registered number: 10744985)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Susan Charles Properties Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mrs J Gregory
A C Gregory





REGISTERED OFFICE: 59 Styvechale Avenue
Coventry
CV5 6DW





REGISTERED NUMBER: 10744985 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

Susan Charles Properties Ltd (Registered number: 10744985)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 993 1,241
Investment property 6 315,000 310,000
315,993 311,241

CURRENT ASSETS
Debtors 7 1,275 1,086
Cash at bank 21,773 13,500
23,048 14,586
CREDITORS
Amounts falling due within one
year

8

315,367

316,084
NET CURRENT LIABILITIES (292,319 ) (301,498 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,674

9,743

PROVISIONS FOR LIABILITIES 4,607 3,705
NET ASSETS 19,067 6,038

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 18,838 14,788
Retained earnings 10 129 (8,850 )
SHAREHOLDERS' FUNDS 19,067 6,038

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 directors acknowledge their 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.

Susan Charles Properties Ltd (Registered number: 10744985)

Balance Sheet - continued
30 April 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





A C Gregory - Director


Susan Charles Properties Ltd (Registered number: 10744985)

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

1. STATUTORY INFORMATION

Susan Charles Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There have been no material departures from this standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

At the balance sheet date the company had net current liabilities of £292,319 (2022 £301,498) however the directors believe that the company will be able to meet its liabilities as they fall due and therefore feel it appropriate to draw up these financial statements on the going concern basis. These financial statements do not include any adjustments that would result should the company be unable to continue trading.

Turnover
Turnover represents rents receivable in the accounting period. Rental income under operating leases is credited to the profit and loss account in equal annual amounts over the periods of the leases.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is included at fair value. Gains and losses on valuation are recognised in the income statement. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Susan Charles Properties Ltd (Registered number: 10744985)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Loans from directors
As a small entity the company measures a basic financial liability that are loans from directors at transaction price.

4. EMPLOYEES AND DIRECTORS

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 May 2022
and 30 April 2023 1,621
DEPRECIATION
At 1 May 2022 380
Charge for year 248
At 30 April 2023 628
NET BOOK VALUE
At 30 April 2023 993
At 30 April 2022 1,241

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 310,000
Revaluations 5,000
At 30 April 2023 315,000
NET BOOK VALUE
At 30 April 2023 315,000
At 30 April 2022 310,000

In the opinion of the directors the fair value of the company's investment properties have an increase in the year under review which is reflected in the value stated in these financial statements. The directors have considered property market values in the vicinity of the company's properties in arriving at their assessment of fair value.

Susan Charles Properties Ltd (Registered number: 10744985)

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

6. INVESTMENT PROPERTY - continued

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2021 3,257
Valuation in 2022 15,000
Valuation in 2023 5,000
Cost 291,743
315,000

If the freehold properties had not been revalued they would have been included at the following historical cost:

30.4.23 30.4.22
£    £   
Cost 291,743 291,743

The investment properties were valued on a fair value basis on 30 April 2023 by the company's directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Prepayments and accrued income 1,275 1,086

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Tax 778 861
Other creditors 2,461 -
Directors' current accounts 310,946 314,143
Accruals and deferred income 1,182 1,080
315,367 316,084

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
100 ordinary 1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2022 (8,850 ) 14,788 5,938
Profit for the year 15,829 15,829
Dividends (2,800 ) (2,800 )
Transfer (4,050 ) 4,050 -
At 30 April 2023 129 18,838 18,967

Susan Charles Properties Ltd (Registered number: 10744985)

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

11. CAPITAL COMMITMENTS
30.4.23 30.4.22
£    £   
Contracted but not provided for in the
financial statements - -

12. RELATED PARTY DISCLOSURES

In the year ended 30 April 2023, the company paid interim dividends of £2,800 to the directors.

In the year under review the company received loans from members of key management personnel and at the balance sheet date the company owed £310,946 in respect of this loans. The loans are unsecured and bears interest at 4% with no specific repayment terms and is presented within creditors: amounts falling due within one year.