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REGISTERED NUMBER: 05049037 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

SEV Properties Limited

SEV Properties Limited (Registered number: 05049037)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEV Properties Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mrs D K Kang





SECRETARY: S S Kang





REGISTERED OFFICE: The Woodlands
70a Pastures Hill
Littleover
Derby
DE23 4BB





REGISTERED NUMBER: 05049037 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

SEV Properties Limited (Registered number: 05049037)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investment property 5 100,000 100,000
100,001 100,001

CURRENT ASSETS
Debtors 6 63 -
Cash at bank 1,551 546
1,614 546
CREDITORS
Amounts falling due within one year 7 58,403 53,589
NET CURRENT LIABILITIES (56,789 ) (53,043 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,212

46,958

CREDITORS
Amounts falling due after more than one
year

8

30,165

34,899
NET ASSETS 13,047 12,059

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 13,738 13,738
Retained earnings (692 ) (1,680 )
SHAREHOLDERS' FUNDS 13,047 12,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

SEV Properties Limited (Registered number: 05049037)

Balance Sheet - continued
28 February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





Mrs D K Kang - Director


SEV Properties Limited (Registered number: 05049037)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

SEV 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.

Turnover
Turnover represents amounts invoiced during the year for rent receivable on investment properties. Rental income is accounted for in the year in which the property is rented.

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 - 15% on cost

Investment property
Investment property is not depreciated but is revalued annually at its market value in accordance with Section 1A "Small Entities' of Financial Reporting Standard 102. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account and transferred to a fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 675
DEPRECIATION
At 1 March 2022
and 28 February 2023 674
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

SEV Properties Limited (Registered number: 05049037)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 100,000
NET BOOK VALUE
At 28 February 2023 100,000
At 28 February 2022 100,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 100,000

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

2023 2022
£    £   
Cost 86,262 86,262
Aggregate depreciation (32,775 ) (31,050 )

Investment property was valued on a fair value basis on 28 February 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 63 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Mortgage 4,472 4,328
Owed to related party 6,382 5,162
Director's current account 46,348 42,491
Accrued expenses 1,201 1,608
58,403 53,589

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgage - 1 - 2 years 4,697 4,095
Mortgage - 2 - 5 years 16,229 13,516
Mortgage - more than 5 years 9,239 17,288
30,165 34,899

SEV Properties Limited (Registered number: 05049037)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Mortgage - more than 5 years 9,239 17,288

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 34,637 39,227

10. RESERVES
Fair
value
reserve
£   
At 1 March 2022
and 28 February 2023 13,738