REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 16 February 2022 to 31 March 2023 |
for |
SJ Property Portfolio Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 16 February 2022 to 31 March 2023 |
for |
SJ Property Portfolio Limited |
SJ Property Portfolio Limited (Registered number: 13919867) |
Contents of the Financial Statements |
For The Period 16 February 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SJ Property Portfolio Limited |
Company Information |
For The Period 16 February 2022 to 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
276 Preston Road |
Harrow |
Middlesex |
HA3 0QA |
SJ Property Portfolio Limited (Registered number: 13919867) |
Balance Sheet |
31 March 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges her 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. |
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 |
SJ Property Portfolio Limited (Registered number: 13919867) |
Notes to the Financial Statements |
For The Period 16 February 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
SJ Property Portfolio Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties comprise freehold land and buildings. These are commercial units and are measured initially at cost, including related transaction costs. These are held as an investment to earn rental income and for capital appreciation and are stated at the fair value at the Balance Sheet date. |
After initial recognition, investment properties are carried at fair value, based on market value, after which they are valued annually by independent external valuers or held at Directors' valuation if appropriate. The changes in fair value and impairments resulting from losses of economic benefit are recognised in the Profit and Loss Account. |
The fair value of an investment property reflects, among other things, rental income from current leases and assumptions about rental income from future leases in light of current market conditions. |
Subsequent expenditure is added to the asset's carrying amount only when it is probable that future economic benefits associated with the item and the cost of the item can be reliably measured. |
Other repairs and maintenance expenditure is charged to the Profit and Loss Account during the financial period in which it incurred. |
When an existing investment property is redeveloped for continued use it remains an investment property whilst in development. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. |
Financial assets that are 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. |
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. |
SJ Property Portfolio Limited (Registered number: 13919867) |
Notes to the Financial Statements - continued |
For The Period 16 February 2022 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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. |
Debtors |
Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
If the investment property had not been revalued it would have been included at the following historical cost: |
31/03/2023 |
£ |
Cost | 847,631 |
The investment property was valued on an open market basis on 31 March 2023 by the director. |
SJ Property Portfolio Limited (Registered number: 13919867) |
Notes to the Financial Statements - continued |
For The Period 16 February 2022 to 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
Included in other creditors is an amount due to the directors and shareholders of £874,210. The outstanding loan due is interest free and payable on demand. |