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SENYAB PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023






SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SENYAB PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTORS: Mr R S Baynes
Mr S Baynes
Mr N Baynes
Mrs N Ledgerton





SECRETARY: Mr S Baynes





REGISTERED OFFICE: Liverpool Road Studios
113 Liverpool Road
Crosby
Liverpool
L23 5TD





REGISTERED NUMBER: 04247062 (England and Wales)





ACCOUNTANTS: Garner & Associates Ltd
Liverpool Road Studios
Suites 3 & 4
113 Liverpool Road
Crosby
Merseyside
L23 5TD

SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 366 458
Investments 5 178,458 178,458
Investment property 6 4,708,370 4,708,370
4,887,194 4,887,286

CURRENT ASSETS
Debtors 7 7,479 7,479
Cash at bank 117,017 136,433
124,496 143,912
CREDITORS
Amounts falling due within one year 8 212,723 261,545
NET CURRENT LIABILITIES (88,227 ) (117,633 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,798,967

4,769,653

CREDITORS
Amounts falling due after more than one
year

9

1,596,965

1,728,489
NET ASSETS 3,202,002 3,041,164

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 11 773,702 773,702
Retained earnings 2,428,296 2,267,458
SHAREHOLDERS' FUNDS 3,202,002 3,041,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)

BALANCE SHEET - continued
31st March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2023 and were signed on its behalf by:





Mr R S Baynes - Director


SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Senyab Properties Limited 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.

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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

Fair value of investments.

Fair value of investment property.

Turnover
Turnover represents gross rents receivable.

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 - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2022
and 31st March 2023 11,122
DEPRECIATION
At 1st April 2022 10,664
Charge for year 92
At 31st March 2023 10,756
NET BOOK VALUE
At 31st March 2023 366
At 31st March 2022 458

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2022
and 31st March 2023 178,458
NET BOOK VALUE
At 31st March 2023 178,458
At 31st March 2022 178,458

In the opinion of the directors the fair value of investments is not materially different from cost.

SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023

6. INVESTMENT PROPERTY

In the opinion of the directors the fair value of investment property is not materially different from cost.

Fair value at 31st March 2023 id represented by:

Valuation in 2019 773,702
Cost 3,934,668

4,708,370



If investment property had not been revalued they would have been included at the following historical cost

2023 2022
£ £ 3,586,998 3,586,998


Investment property was valued on an open market basis on 30th March 2019 by Neil Baynes, company director

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2019 773,702
Cost 3,934,668
4,708,370

If investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,586,298 3,586,298

Investment property was valued on an open market basis on 30th March 2019 by Neil Baynes, company director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,479 7,479

SENYAB PROPERTIES LIMITED (REGISTERED NUMBER: 04247062)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 92,244 92,244
Trade creditors 3,900 3,901
Taxation and social security 45,836 42,657
Other creditors 70,743 122,743
212,723 261,545

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,596,965 1,728,489

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 207,611 238,578

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,689,209 1,820,733

Bank loans are secured on the company's investment property.

11. RESERVES
Revaluation
reserve
£   
At 1st April 2022
and 31st March 2023 773,702