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COMPANY REGISTRATION NUMBER: NI670783
Sedan Investments Limited
Filleted Unaudited Financial Statements
31 July 2023
Sedan Investments Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
413,219
413,219
Current assets
Cash at bank and in hand
9,897
3,222
Creditors: amounts falling due within one year
5
332,718
362,614
---------
---------
Net current liabilities
322,821
359,392
---------
---------
Total assets less current liabilities
90,398
53,827
Provisions
Taxation including deferred tax
( 2,005)
--------
--------
Net assets
90,398
55,832
--------
--------
Capital and reserves
Called up share capital
5
5
Profit and loss account
90,393
55,827
--------
--------
Shareholders funds
90,398
55,832
--------
--------
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 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sedan Investments Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 4 October 2023 , and are signed on behalf of the board by:
Mr N Armstrong
Mr S McFarland
Director
Director
Mr W Moffitt
Mr W Swann
Director
Director
Mr S Wilson
Director
Company registration number: NI670783
Sedan Investments Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Omagh Enterprise Centre, Great Northern Road, Omagh, Co Tyrone, BT78 5LU. The principal activity of the company is the letting of commercial property .
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 certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
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 recognised 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
4. Tangible assets
Land and buildings
£
Cost
At 1 August 2022 and 31 July 2023
413,219
---------
Depreciation
At 1 August 2022 and 31 July 2023
---------
Carrying amount
At 31 July 2023
413,219
---------
At 31 July 2022
413,219
---------
The carrying amount of investment property is accounted for under the cost model.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
8,179
3,075
Other creditors
324,539
359,539
---------
---------
332,718
362,614
---------
---------
6. Directors' advances, credits and guarantees
During the year repayments of £35,000 were made of a loan provided by the directors.The balance owed to the directors at 31 July 2023 was £324,539,(2022: £359,539).