REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
SR7 Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
SR7 Properties Limited |
SR7 Properties Limited (Registered number: 09630017) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SR7 Properties Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 Yorke Street |
Hucknall |
Nottinghamshire |
NG15 7BT |
SR7 Properties Limited (Registered number: 09630017) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
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 |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserves | 11 |
Retained earnings | 11 |
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. |
SR7 Properties Limited (Registered number: 09630017) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SR7 Properties Limited (Registered number: 09630017) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
SR7 Properties Limited is a |
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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
A property held within the balance sheet was transferred into the company by way of a gift and therefore there was no original cost to the company. This property, along with the other investment properties held within the company, have been revalued this financial year. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SR7 Properties Limited (Registered number: 09630017) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
Additions |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2022 | 1,066,324 |
Cost | 1,067,326 |
2,133,650 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.7.23 | 31.7.22 |
£ | £ |
Cost | 1,067,326 | 817,185 |
Investment property was valued on an open market value basis on 10 January 2024 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Amounts owed by associates |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Deposits held | 11,796 | 10,797 |
Amounts owed to associates |
Corporation tax |
Other creditors |
Credit card | 1,193 | - |
Directors' current accounts |
Accruals and deferred income |
SR7 Properties Limited (Registered number: 09630017) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans to be repaid after |
5 years by instalments | 790,332 | 537,891 |
790,332 | 537,891 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31.7.23 | 31.7.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans to be repaid |
between 2 & 5 years by |
instalments |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans to be repaid after |
5 years by instalments | 790,332 | 537,891 |
790,332 | 537,891 |
SR7 Properties Limited (Registered number: 09630017) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
Bank loans are secured against the investment properties held on the companies balance sheet. |
10. | PROVISIONS FOR LIABILITIES |
31.7.23 | 31.7.22 |
£ | £ |
Deferred tax | 266,581 | 266,581 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Balance at 31 July 2023 |
11. | RESERVES |
Retained | Non-distributable |
earnings | reserves | Totals |
£ | £ | £ |
At 1 August 2022 | 816,322 |
Deficit for the year | ( |
) | ( |
) |
At 31 July 2023 | 801,135 |