Registered number
07192747
Signature Prime Property Limited
Unaudited
Filleted Financial Statements
31 May 2023
Signature Prime Property Limited
Registered number: 07192747
Balance Sheet
as at 31 May 2023
Notes 31/05/23 30/09/22
£ £
Fixed assets
Tangible assets 3 925 1,644
Current assets
Debtors 4 119,787 87,384
Cash at bank and in hand 129,904 200,425
249,691 287,809
Creditors: amounts falling due within one year 5 (5,168,025) (5,050,706)
Net current liabilities (4,918,334) (4,762,897)
Net liabilities (4,917,409) (4,761,253)
Capital and reserves
Called up share capital 100 100
Profit and loss account (4,917,509) (4,761,353)
Shareholder's funds (4,917,409) (4,761,253)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A-small entities.
Approved by the board on 6 February 2024
A S Mulford
Director
Signature Prime Property Limited
Notes to the Accounts
for the period from 1 October 2022 to 31 May 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The following principal accounting policies have been applied:
Going concern
The financial statements have been prepared on a going concern basis as a related entity has confirmed that it will continue to provide support for the company to meet its forecast liabilities as they fall due.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following are satisfied:
● the amount of revenue can be measured reliably;
● it is probable that the Company will receive the consideration due under the contract;
● the stage of completion of the contract at the end of the reporting period can be measured reliably; and
● the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
Office Equipment 33% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted retrospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Financial Instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simulaneously.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance Costs
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Profit & Loss Account on a straight line basis over the lease term.
Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held seperately from the Company in independently administered funds.
Interest Income
Interest Income is recognised in the Profit & Loss Account using the effective interest method.
2 Employees 2023 2022
Number Number
The average monthly number of employees, including directors, during the year:
5 5
3 Tangible fixed assets
Office equipment
£
Cost
At 1 October 2022 71,241
At 31 May 2023 71,241
Depreciation
At 1 October 2022 69,597
Charge for the period 719
At 31 May 2023 70,316
Net book value
At 31 May 2023 925
At 30 September 2022 1,644
4 Debtors 2023 2022
£ £
Due within one year
Trade debtors 109,190 86,543
Other debtors and prepayments 10,597 841
119,787 87,384
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12,261 24,423
Amounts owed to group undertakings 5,136,177 5,007,359
Taxation and social security costs 13,027 18,606
Other creditors and accruals 6,560 318
5,168,025 5,050,706
6 Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,854 (2022-£1,938). Contributions totalling £434 (2021-£359) were payable to the fund at the balance sheet date.
7 Other information
Signature Prime Property Limited is a private company limited by shares and incorporated in England. Its registered office is The Stable, Newick Park, Newick, Nr Lewes, East Sussex, BN8 4SB:
8 Ownership
Throughout the year, the company was wholly owned by Winllan Limited.
Winllan Ltd is a company registered in the Isle of Man, and is ultimately controlled by the K Trust.
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