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REGISTERED NUMBER: 10718886 (England and Wales)















SUDWELLE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






SUDWELLE PROPERTIES LIMITED (REGISTERED NUMBER: 10718886)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


SUDWELLE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mrs J Pointer



REGISTERED OFFICE: The Corner House
Clipsham Road
Castle Bytham
Grantham
Lincolnshire
NG33 4SN



REGISTERED NUMBER: 10718886 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Royal Bank of Scotland
Direct Business Banking
4th Floor
1 Hardman Boulevard
Manchester
M3 3AQ

SUDWELLE PROPERTIES LIMITED (REGISTERED NUMBER: 10718886)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 580,000 874,000
580,000 874,000

CURRENT ASSETS
Debtors 6 136,110 989
Cash at bank 250,575 40,191
386,685 41,180
CREDITORS
Amounts falling due within one year 7 22,972 18,498
NET CURRENT ASSETS 363,713 22,682
TOTAL ASSETS LESS CURRENT LIABILITIES 943,713 896,682

CREDITORS
Amounts falling due after more than one year 8 (840,546 ) (840,401 )

PROVISIONS FOR LIABILITIES (14,799 ) (13,140 )
NET ASSETS 88,368 43,141

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 68,117 64,864
Retained earnings 20,249 (21,725 )
SHAREHOLDERS' FUNDS 88,368 43,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SUDWELLE PROPERTIES LIMITED (REGISTERED NUMBER: 10718886)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 March 2024 and were signed by:





Mrs J Pointer - Director


SUDWELLE PROPERTIES LIMITED (REGISTERED NUMBER: 10718886)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Sudwelle 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.

Income
Investment income comprises the fair value of rents received from the company's investment properties which is recognised in the period receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Tangible fixed assets are held at cost less accumulated depreciation.

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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2022 - 1 ) .

SUDWELLE PROPERTIES LIMITED (REGISTERED NUMBER: 10718886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2022
and 30 September 2023 773
DEPRECIATION
At 1 October 2022
and 30 September 2023 773
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 874,000
Disposals (294,000 )
At 30 September 2023 580,000
NET BOOK VALUE
At 30 September 2023 580,000
At 30 September 2022 874,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 83,130
Cost 496,870
580,000

The investment properties were valued by the director as at 30 September 2023 by considering the fair values of recent, comparable property sales in the local area.

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Prepayments and accrued income 4,587 989

Amounts falling due after more than one year:
Other debtors 131,523 -

Aggregate amounts 136,110 989

SUDWELLE PROPERTIES LIMITED (REGISTERED NUMBER: 10718886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,000 14,749
Taxation 4,792 -
Other creditors - 779
Accruals and deferred income 3,180 2,970
22,972 18,498

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 37,312 52,311
Other creditors 401,617 394,045
Director's loan account 401,617 394,045
840,546 840,401

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 52,312 67,060

The bank loan is secured by a fixed charge over the property to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Revaluation
reserve
£   
At 1 October 2022 64,864
Transfer between reserves 3,253

At 30 September 2023 68,117

The aggregate surplus on re-measurement of investment properties , net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.