Company Registration No. 11041603 (England and Wales)
Southern Property Kent Limited
Unaudited accounts
for the year ended 30 November 2023
Southern Property Kent Limited
Unaudited accounts
Contents
Southern Property Kent Limited
Company Information
for the year ended 30 November 2023
Company Number
11041603 (England and Wales)
Registered Office
2 PAUL GARDENS
CROYDON
SURREY
CR0 5QL
UNITED KINGDOM
Accountants
Milton & Co
International Accountants
2 Paul Gardens
Croydon
Surrey
CR0 5QL
Southern Property Kent Limited
Statement of financial position
as at 30 November 2023
Investment property
562,901
562,901
Cash at bank and in hand
917
6,002
Creditors: amounts falling due within one year
(4,884)
(5,250)
Net current assets
4,681
1,848
Total assets less current liabilities
567,582
564,749
Creditors: amounts falling due after more than one year
(560,079)
(559,415)
Called up share capital
100
100
Profit and loss account
7,403
5,234
Shareholders' funds
7,503
5,334
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 April 2024 and were signed on its behalf by
E Hamilton
Director
Company Registration No. 11041603
Southern Property Kent Limited
Notes to the Accounts
for the year ended 30 November 2023
Southern Property Kent Limited is a private company, limited by shares, registered in England and Wales, registration number 11041603. The registered office is 2 PAUL GARDENS, CROYDON, SURREY, CR0 5QL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is the rents received from investment property owned by the Company.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The Director does not recommend the payment of any Dividend.
The principal activity of the Company is that of owning and managing investment property.
During the year, the Company has found it challenging with one Tenant failing to pay rent for most of the year and eviction proceedings sought and concluded together with the rise in interest rates which has led to an increase in costs. The forthcoming year will see new Tenants following the light refurbishment required since eviction and refinancing deals to reduce the cost of borrowing to maintain the profitability of the business.
Fair value at 1 December 2022
562,901
At 30 November 2023
562,901
Southern Property Kent Limited
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Accrued income and prepayments
2,964
1,079
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,974
1,465
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
392,605
384,180
Other creditors
167,474
175,235
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).