Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-31false2022-11-01No description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01313480 2022-11-01 2023-10-31 01313480 2021-11-01 2022-10-31 01313480 2023-10-31 01313480 2022-10-31 01313480 c:Director1 2022-11-01 2023-10-31 01313480 c:Director2 2022-11-01 2023-10-31 01313480 d:FreeholdInvestmentProperty 2023-10-31 01313480 d:FreeholdInvestmentProperty 2022-10-31 01313480 d:CurrentFinancialInstruments 2023-10-31 01313480 d:CurrentFinancialInstruments 2022-10-31 01313480 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01313480 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01313480 d:ShareCapital 2023-10-31 01313480 d:ShareCapital 2022-10-31 01313480 d:RevaluationReserve 2023-10-31 01313480 d:RevaluationReserve 2022-10-31 01313480 d:RetainedEarningsAccumulatedLosses 2023-10-31 01313480 d:RetainedEarningsAccumulatedLosses 2022-10-31 01313480 c:FRS102 2022-11-01 2023-10-31 01313480 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01313480 c:FullAccounts 2022-11-01 2023-10-31 01313480 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01313480 6 2022-11-01 2023-10-31 01313480 2 2023-10-31 01313480 2 2022-10-31 iso4217:GBP xbrli:pure

01313480







SIMSEN (PROPERTY DEVELOPMENTS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2023

































SIMSEN (PROPERTY DEVELOPMENTS) LIMITED
REGISTERED NUMBER:01313480

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment Property
 4 
980,413
980,413

Investments
 5 
12,240
12,240

  
992,653
992,653

Current assets
  

Debtors: amounts falling due within one year
 6 
34,607
4,150

Cash at bank and in hand
  
43,236
42,809

  
77,843
46,959

Creditors: amounts falling due within one year
 7 
(481,643)
(443,481)

Net current liabilities
  
 
 
(403,800)
 
 
(396,522)

Total assets less current liabilities
  
588,853
596,131

  

Net assets
  
588,853
596,131


Capital and reserves
  

Called up share capital 
  
300
300

Revaluation reserve
  
347,353
347,353

Profit and loss account
  
241,200
248,478

  
588,853
596,131


Page 1

SIMSEN (PROPERTY DEVELOPMENTS) LIMITED
REGISTERED NUMBER:01313480
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr. J. Ball
Mrs. S. Lyell
Director
Director


Date: 21 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

SIMSEN (PROPERTY DEVELOPMENTS) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Simsen (Property Developments) Limited (the Company) is a Company limited by shares domiciled and incorporated in England and Wales.

The address of its registered office and place of business is 147 Camden Road, Tunbridge Wells, Kent, TN1 2RA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rental income is recognised in the period in which it relates, as specified in the lease agreements. 

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary, for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.5

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.

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

SIMSEN (PROPERTY DEVELOPMENTS) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.9

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
980,413



At 31 October 2023
980,413

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 4

SIMSEN (PROPERTY DEVELOPMENTS) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost


At 1 November 2022
12,240



At 31 October 2023
12,240






Net book value



At 31 October 2023
12,240



At 31 October 2022
12,240


6.


Debtors

2023
2022
£
£


Trade debtors
3,907
3,450

Other debtors
30,700
700

34,607
4,150





7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
1,450

Corporation tax
10,172
6,417

Other taxation and social security
1,800
1,898

Other creditors
450,955
415,250

Accruals and deferred income
18,716
18,466

481,643
443,481


Page 5

SIMSEN (PROPERTY DEVELOPMENTS) LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Transactions with directors

In the current year, included within debtors, are balances due from the directors of the company. The loans are interest free and repayable on demand. The movements during the year were as follows:


2023
2022
£
£

Balance brought forward 1 November
-
9,000
Amounts repaid
-
(43,000)
Advances in year
30,000
34,000
30,000
-

 
Page 6