Company registration number 11179701 (England and Wales)
SOIZA PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
SOIZA PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SOIZA PROPERTY LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
667,915
667,915
Current assets
Debtors
5
58,199
133,000
Cash at bank and in hand
2,601
8,622
60,800
141,622
Creditors: amounts falling due within one year
6
(268,736)
(348,760)
Net current liabilities
(207,936)
(207,138)
Total assets less current liabilities
459,979
460,777
Creditors: amounts falling due after more than one year
7
(402,293)
(411,304)
Net assets
57,686
49,473
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
57,586
49,373
Total equity
57,686
49,473
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 April 2024 and are signed on its behalf by:
Mr John Soiza
Director
Company registration number 11179701 (England and Wales)
SOIZA PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Soiza Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Castlebridge Office Village, Castle Marina Road, Nottingham, NG71TN. The company registration number is 11179701.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rents receivable excluding value added tax.
Turnover is recognised when rents become due.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
SOIZA PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 and 31 January 2024
667,915
Depreciation and impairment
At 1 February 2023 and 31 January 2024
Carrying amount
At 31 January 2024
667,915
At 31 January 2023
667,915
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
55,000
Other debtors
58,199
78,000
58,199
133,000
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
11,634
14,257
Trade creditors
36
1,800
Corporation tax
5,687
12,739
Other taxation and social security
8,669
48,716
Other creditors
242,710
271,248
268,736
348,760
SOIZA PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
402,293
411,304