REGISTERED NUMBER: |
Sb One Holdings Limited |
Unaudited Financial Statements |
for the Period 1 June 2022 to 27 October 2023 |
REGISTERED NUMBER: |
Sb One Holdings Limited |
Unaudited Financial Statements |
for the Period 1 June 2022 to 27 October 2023 |
Sb One Holdings Limited (Registered number: SC522147) |
Contents of the Financial Statements |
for the Period 1 June 2022 to 27 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Sb One Holdings Limited |
Company Information |
for the Period 1 June 2022 to 27 October 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
2 Bernard Street |
Edinburgh |
EH6 6PU |
Sb One Holdings Limited (Registered number: SC522147) |
Balance Sheet |
27 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 | - |
Retained earnings | 7 |
The director acknowledges his 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. |
Sb One Holdings Limited (Registered number: SC522147) |
Balance Sheet - continued |
27 October 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 director and authorised for issue on |
Sb One Holdings Limited (Registered number: SC522147) |
Notes to the Financial Statements |
for the Period 1 June 2022 to 27 October 2023 |
1. | STATUTORY INFORMATION |
Sb One Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has ceased trading and therefore the accounts have been prepared on a break-up basis. |
Turnover |
Turnover is represented by rental income excluding value added tax and is recognised based on rent due in accordance with the respective rent agreement. |
Investment property |
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent. |
This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view. |
Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value. |
Taxation |
Taxation for the period 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. |
Sb One Holdings Limited (Registered number: SC522147) |
Notes to the Financial Statements - continued |
for the Period 1 June 2022 to 27 October 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
Disposals | ( |
) |
At 27 October 2023 |
NET BOOK VALUE |
At 27 October 2023 |
At 31 May 2022 |
The investment property was sold on an open market on 27 October 2023. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Sb One Holdings Limited (Registered number: SC522147) |
Notes to the Financial Statements - continued |
for the Period 1 June 2022 to 27 October 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
The director's current account is unsecured, interest free and has no fixed repayment period. |
7. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2022 | 8,658 | 13,658 |
Profit for the period |
Dividends | ( |
) | ( |
) |
Disposal | 5,000 | (5,000 | ) | - |
At 27 October 2023 | - | 96 |