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REGISTERED NUMBER: 10902641 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

3SK PROPERTIES LIMITED

3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


3SK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr K Cope
Mrs S Cope
Ms S A Rhodes



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 10902641 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC Bank Plc
7 Palace Avenue
Paignton
Devon
TQ3 3ED

3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,226 8,501
Investment property 5 843,000 843,000
850,226 851,501

CURRENT ASSETS
Debtors 6 10,735 7,417
Cash at bank 15,110 6,063
25,845 13,480
CREDITORS
Amounts falling due within one year 7 300,165 312,857
NET CURRENT LIABILITIES (274,320 ) (299,377 )
TOTAL ASSETS LESS CURRENT LIABILITIES 575,906 552,124

CREDITORS
Amounts falling due after more than one
year

8

(517,548

)

(514,948

)

PROVISIONS FOR LIABILITIES (10,306 ) (10,306 )
NET ASSETS 48,052 26,870

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 11 43,950 43,950
Retained earnings 11 4,002 (17,180 )
SHAREHOLDER FUNDS 48,052 26,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





Mr K Cope - Director


3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

3SK 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2022 - NIL).

3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022
and 31 August 2023 18,263
DEPRECIATION
At 1 September 2022 9,762
Charge for year 1,275
At 31 August 2023 11,037
NET BOOK VALUE
At 31 August 2023 7,226
At 31 August 2022 8,501

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 843,000
NET BOOK VALUE
At 31 August 2023 843,000
At 31 August 2022 843,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2020 545,000
Valuation in 2021 316,589
Valuation in 2022 (18,589 )
843,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 857 -
Other debtors 3,306 3,845
Directors' current accounts 5,550 2,550
Tax 1,022 1,022
10,735 7,417

3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,542 398
Other creditors 295,791 310,459
Directors' current accounts 697 -
Accrued expenses 2,135 2,000
300,165 312,857

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans (see note 9) 517,548 514,948

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between two and five years:
Other loans 170,545 170,545
Other loans 262,690 260,090
Other loans 84,313 84,313
517,548 514,948

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 170,545 170,545
Other loans 262,691 260,090
Other loans 84,313 84,313
517,549 514,948

11. RESERVES

The other reserves represents undistributable amounts arising from the revaluation of the freehold properties to their fair value.

3SK PROPERTIES LIMITED (REGISTERED NUMBER: 10902641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
Mr K Cope and Mrs S Cope
Balance outstanding at start of year - -
Amounts repaid (697 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (697 ) -

Ms S A Rhodes
Balance outstanding at start of year 2,550 (1,950 )
Amounts advanced 3,000 4,500
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,550 2,550

13. RELATED PARTY DISCLOSURES

Intercompany Account

During the period the company borrowed from Five Way Properties Ltd, a company Mr K Cope & Mrs S Cope, Directors, are also Directors of, an amount of £19,386 (2022: £19,386). The loan is unsecured, interest free and repayable on demand.

During the period the company borrowed from Koru Connections Ltd, a company Mr K Cope & Mrs S Cope, Directors, are also Directors of, an amount of £11,171 (2022: £18,312). The loan is unsecured, interest free and repayable on demand.