0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC264600 2022-07-01 2023-06-30 SC264600 2023-06-30 SC264600 2022-06-30 SC264600 2021-07-01 2022-06-30 SC264600 2022-06-30 SC264600 2021-06-30 SC264600 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC264600 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 SC264600 bus:Director1 2022-07-01 2023-06-30 SC264600 core:WithinOneYear 2023-06-30 SC264600 core:WithinOneYear 2022-06-30 SC264600 core:ShareCapital 2023-06-30 SC264600 core:ShareCapital 2022-06-30 SC264600 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC264600 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC264600 bus:SmallEntities 2022-07-01 2023-06-30 SC264600 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC264600 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC264600 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC264600 bus:FullAccounts 2022-07-01 2023-06-30 SC264600 bus:OrdinaryShareClass1 2023-06-30 SC264600 bus:OrdinaryShareClass1 2022-06-30 SC264600 bus:OrdinaryShareClass2 2023-06-30 SC264600 bus:OrdinaryShareClass2 2022-06-30 SC264600 bus:AllOrdinaryShares 2023-06-30 SC264600 bus:AllOrdinaryShares 2022-06-30
COMPANY REGISTRATION NUMBER: SC264600
SJB Developments Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
SJB Developments Limited
Financial Statements
Year ended 30 June 2023
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
SJB Developments Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
1,963,765
2,489,296
Creditors: amounts falling due within one year
5
4,500
495,821
------------
------------
Net current assets
1,959,265
1,993,475
------------
------------
Total assets less current liabilities
1,959,265
1,993,475
------------
------------
Net assets
1,959,265
1,993,475
------------
------------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
1,959,165
1,993,375
------------
------------
Shareholder funds
1,959,265
1,993,475
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
B R Linton
Director
Company registration number: SC264600
SJB Developments Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Bannerman House, 27 South Tay Street, Dundee, DD1 1NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing these financial statements. Further detail on the going concern basis is set out in the notes titled Going concern.
Revenue recognition
Turnover comprises rental income, and is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is provided on the liability method in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include amounts due by group undertakings and other debtors are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include other creditors are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,963,765
2,489,296
------------
------------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,473
Corporation tax
213,487
Social security and other taxes
248,400
Other creditors
4,500
18,461
-------
---------
4,500
495,821
-------
---------
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
A Ordinary shares of £ 1 each
50
50
50
50
B Ordinary shares of £ 1 each
50
50
50
50
----
----
----
----
100
100
100
100
----
----
----
----
Ordinary A and B shares rank pari passu in terms of rights and entitlements.
7. Related party transactions
At the year end, SJB Developments Limited were owed from Broughty Ferry Estates Limited, a company which owns 50% of the shares in Elliot Estates Limited, £1,963,765 (2022: £2,489,296). Management fees of £45,000 (2022: £nil) were payable in the year to Broughty Ferry Estates Limited.
8. Controlling party
Elliot Estates Limited owns 100% of the issued share capital of the company. Elliot Estates Limited is jointly owned by Broughty Ferry Estates Limited and Ton Adam Holdings BV.