Company Registration No. 08546817 (England and Wales)
SESSIONS PROPERTY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
SESSIONS PROPERTY HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr G P Sessions
Mrs K D Blizzard
Company number
08546817
Registered office
Units 1/2/3
Oaklands Business Park
Hoo Farm Industrial Estate
Kidderminster
Worcestershire
DY11 7RA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
112 High Street
Bromsgrove
Worcestershire
B61 8EZ
SESSIONS PROPERTY HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
SESSIONS PROPERTY HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SESSIONS PROPERTY HOLDINGS LIMITED FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sessions Property Holdings Limited for the year ended 30 April 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sessions Property Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sessions Property Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Sessions Property Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sessions Property Holdings Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Sessions Property Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sessions Property Holdings Limited. You consider that Sessions Property Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sessions Property Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
21 November 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SESSIONS PROPERTY HOLDINGS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
415,051
415,051
Investments
4
1,200
1,200
416,251
416,251
Current assets
Debtors
5
398
341
Cash at bank and in hand
3,598
5,478
3,996
5,819
Creditors: amounts falling due within one year
6
(147,116)
(129,651)
Net current liabilities
(143,120)
(123,832)
Total assets less current liabilities
273,131
292,419
Creditors: amounts falling due after more than one year
7
(227,473)
(246,951)
Net assets
45,658
45,468
Capital and reserves
Called up share capital
9
1,000
1,000
Capital redemption reserve
200
200
Profit and loss reserves
44,458
44,268
Total equity
45,658
45,468

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SESSIONS PROPERTY HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023
30 April 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 21 November 2023 and are signed on its behalf by:
Mrs K D Blizzard
Director
Company Registration No. 08546817
SESSIONS PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
1
Accounting policies
Company information

Sessions Property Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 1/2/3, Oaklands Business Park, Hoo Farm Industrial Estate, Kidderminster, Worcestershire, DY11 7RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SESSIONS PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

3
Investment property
2023
£
Fair value
At 1 May 2022 and 30 April 2023
415,051

The directors have assessed the market value of the property and consider that there has been no significant change in the market value at the year end.

4
Fixed asset investments
2023
2022
£
£
Investments
1,200
1,200
SESSIONS PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 May 2022 & 30 April 2023
1,200
Carrying amount
At 30 April 2023
1,200
At 30 April 2022
1,200
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
398
341
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
32,032
30,532
Amounts owed to group undertakings
83,034
46,452
Taxation and social security
5,072
5,460
Other creditors
26,978
47,207
147,116
129,651
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
227,473
246,951
SESSIONS PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
259,505
277,483
Bank loans are secured by way of a fixed and floating charge over the property of the company.
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
900 A Ordinary of £1 each
900
900
100 B Ordinary of £1 each
100
100
1,000
1,000
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11
Ultimate controlling party

The ultimate controlling party is Mr G P Sessions.

2023-04-302022-05-01false21 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr G P SessionsMrs K D Blizzardfalse085468172022-05-012023-04-3008546817bus:Director12022-05-012023-04-3008546817bus:Director22022-05-012023-04-3008546817bus:RegisteredOffice2022-05-012023-04-3008546817bus:Agent12022-05-012023-04-30085468172023-04-30085468172022-04-3008546817core:CurrentFinancialInstruments2023-04-3008546817core:CurrentFinancialInstruments2022-04-3008546817core:Non-currentFinancialInstruments2023-04-3008546817core:Non-currentFinancialInstruments2022-04-3008546817core:ShareCapital2023-04-3008546817core:ShareCapital2022-04-3008546817core:CapitalRedemptionReserve2023-04-3008546817core:CapitalRedemptionReserve2022-04-3008546817core:RetainedEarningsAccumulatedLosses2023-04-3008546817core:RetainedEarningsAccumulatedLosses2022-04-3008546817core:ShareCapitalOrdinaryShares2023-04-3008546817core:ShareCapitalOrdinaryShares2022-04-30085468172022-04-3008546817bus:OrdinaryShareClass12022-05-012023-04-3008546817bus:OrdinaryShareClass22022-05-012023-04-3008546817bus:OrdinaryShareClass12023-04-3008546817bus:OrdinaryShareClass22023-04-3008546817bus:PrivateLimitedCompanyLtd2022-05-012023-04-3008546817bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3008546817bus:FRS1022022-05-012023-04-3008546817bus:AuditExemptWithAccountantsReport2022-05-012023-04-3008546817bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP