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Registration number: 11205671

SJVG Properties Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

SJVG Properties Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

SJVG Properties Limited

(Registration number: 11205671)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,440,210

1,436,483

Current assets

 

Debtors

1

1

Cash at bank and in hand

 

3,116

2,843

 

3,117

2,844

Creditors: Amounts falling due within one year

(87,791)

(355,338)

Net current liabilities

 

(84,674)

(352,494)

Total assets less current liabilities

 

1,355,536

1,083,989

Creditors: Amounts falling due after more than one year

5

(812,741)

(886,861)

Net assets

 

542,795

197,128

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

542,794

197,127

Total equity

 

542,795

197,128

 

SJVG Properties Limited

(Registration number: 11205671)
Abridged Balance Sheet as at 30 June 2023

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

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 November 2023 and signed on its behalf by:
 

Mr G Jones

Director

Mr G Field

Director

Mr DS Steele

Director

 

SJVG Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Parkway Surgery
253 Gower Road
Sketty
Swansea
West Glamorgan
SA2 9JL

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's current liabilities at 30 June 2023, £290,599 is owed to group companies, the directors of which have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

SJVG Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

4

Investment properties

2023
£

At 1 July 2022

1,436,483

Additions

3,727

At 30 June 2023

1,440,210

The directors have agreed that the valuation of the property is to be based on its historical cost.

There has been no valuation of investment property by an independent valuer.

5

Creditors: amounts falling due after more than one year

Bank borrowings

Bank loans have a carrying amount at year end of £885,150 (2022 - £953,934).

Security is given by way of fixed and floating charge.

Included in the loans and borrowings are the following amounts due after more than five years:

2023
£

2022
£

After more than five years by instalments

523,102

617,851