Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2022-03-01falseNo description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11210295 2022-03-01 2023-02-28 11210295 2021-03-01 2022-02-28 11210295 2023-02-28 11210295 2022-02-28 11210295 c:Director1 2022-03-01 2023-02-28 11210295 d:FreeholdInvestmentProperty 2023-02-28 11210295 d:FreeholdInvestmentProperty 2022-02-28 11210295 d:FreeholdInvestmentProperty 2 2022-03-01 2023-02-28 11210295 d:CurrentFinancialInstruments 2023-02-28 11210295 d:CurrentFinancialInstruments 2022-02-28 11210295 d:Non-currentFinancialInstruments 2023-02-28 11210295 d:Non-currentFinancialInstruments 2022-02-28 11210295 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11210295 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11210295 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11210295 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 11210295 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 11210295 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 11210295 d:ShareCapital 2023-02-28 11210295 d:ShareCapital 2022-02-28 11210295 d:RevaluationReserve 2023-02-28 11210295 d:RevaluationReserve 2022-02-28 11210295 d:RetainedEarningsAccumulatedLosses 2023-02-28 11210295 d:RetainedEarningsAccumulatedLosses 2022-02-28 11210295 c:FRS102 2022-03-01 2023-02-28 11210295 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11210295 c:FullAccounts 2022-03-01 2023-02-28 11210295 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11210295 5 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 11210295









S & N PROPERTY HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
S & N PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 11210295

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
                                                                           Note
£
£

Fixed assets
  

Investment property
 4 
210,000
165,321

  
210,000
165,321

Current assets
  

Debtors: amounts falling due within one year
 5 
4
4

Cash at bank and in hand
  
5,581
5,591

  
5,585
5,595

Creditors: amounts falling due within one year
 6 
(56,315)
(56,336)

Net current liabilities
  
 
 
(50,730)
 
 
(50,741)

Total assets less current liabilities
  
159,270
114,580

Creditors: amounts falling due after more than one year
 7 
(114,422)
(114,422)

  

Net assets
  
44,848
158


Capital and reserves
  

Called up share capital 
  
4
4

Revaluation reserve
  
44,679
-

Profit and loss account
  
165
154

  
44,848
158


The directors consider 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 directors acknowledge their 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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
S & N PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 11210295
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 November 2023.

R Shanley
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
S & N PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

S & N Property Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 19 Grange Road, Aveley, Essex, RM15 4ER.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

 
2.3

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.

 
2.4

Borrowing costs

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

 
2.5

Taxation

Tax is recognised in profit or loss 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.

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.

Page 3

 
S & N PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.9

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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Page 4

 
S & N PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
S & N PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 March 2022
165,321


Surplus on revaluation
44,679



At 28 February 2023
210,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



At 28 February 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
165,321
165,321


5.


Debtors

2023
2022
£
£


Other debtors
4
4



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
846
831

Other creditors
55,069
55,105

Accruals and deferred income
400
400

56,315
56,336


Page 6

 
S & N PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
114,422
114,422

114,422
114,422


The Company has an interest only mortgage of £114,422 (2022 - £114,422).
The loan is secured by a debenture over the investment property held by the Company.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
114,422
114,422



9.


Related party transactions

At the year end, the Company owed the directors £55,069 (2022 - £55,105).

 
Page 7