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Company Registration No. 10090688 (England and Wales)
Steve & Catherine Properties Limited Unaudited accounts for the year ended 31 March 2023
Steve & Catherine Properties Limited Unaudited accounts Contents
Page
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Steve & Catherine Properties Limited Company Information for the year ended 31 March 2023
Directors
Mr Steven Mark Pymm Miss Catherine Jane Shaw
Company Number
10090688 (England and Wales)
Registered Office
17-19 C/O TOGETHER ACCOUNTING LTD ST. GEORGES STREET NORWICH NORFOLK NR3 1AB ENGLAND
Accountants
Together Accounting Limited 17-19 St Georges Street Norwich Norfolk NR3 1AB
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Steve & Catherine Properties Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
2,017,250 
1,230,000 
Current assets
Inventories
50,000 
165,000 
Cash at bank and in hand
1,742 
1,085 
51,742 
166,085 
Creditors: amounts falling due within one year
(520,838)
(547,948)
Net current liabilities
(469,096)
(381,863)
Total assets less current liabilities
1,548,154 
848,137 
Creditors: amounts falling due after more than one year
(946,063)
(469,758)
Provisions for liabilities
Deferred tax
(149,616)
(59,336)
Net assets
452,475 
319,043 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
452,375 
318,943 
Shareholders' funds
452,475 
319,043 
For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
Mr Steven Mark Pymm Director Company Registration No. 10090688
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Steve & Catherine Properties Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Steve & Catherine Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10090688. The registered office is 17-19 C/O TOGETHER ACCOUNTING LTD, ST. GEORGES STREET, NORWICH, NORFOLK, NR3 1AB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Steve & Catherine Properties Limited Notes to the Accounts for the year ended 31 March 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2023 
£ 
Fair value at 1 April 2022
1,230,000 
Additions
617,250 
Disposals
(190,000)
Net gain from fair value adjustments
360,000 
At 31 March 2023
2,017,250 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
325 
325 
Taxes and social security
- 
12,277 
Other creditors
518,388 
533,221 
Accruals
2,125 
2,125 
520,838 
547,948 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
628,664 
469,758 
Other creditors
317,399 
- 
946,063 
469,758 
7
Loans to directors
At the end of the year the company owed directors £388,204 (2022 £533,221)
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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