Registered number
13324341
S&B PROPERTY SOLUTIONS LTD
Filleted Accounts
30 April 2023
S&B PROPERTY SOLUTIONS LTD
Registered number: 13324341
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 571,115 284,979
Current assets
Debtors 4 15,275 383
Cash at bank and in hand 9,048 11,190
24,323 11,573
Creditors: amounts falling due within one year 5 (24,915) (40,319)
Net current liabilities (592) (28,746)
Total assets less current liabilities 570,523 256,233
Creditors: amounts falling due after more than one year 6 (583,853) (270,300)
Net liabilities (13,330) (14,067)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (14,330) (15,067)
Shareholders' funds (13,330) (14,067)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mandeep Sidhu
Director
Approved by the board on 23 April 2024
S&B PROPERTY SOLUTIONS LTD
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment - 10% per annum on cost.
Investment properties
In accordance with Financial Reporting Standard for Smaller Entities (effective January 2015) no depreciation is provided in respect of freehold properties held as investments. This is a depature from the requirements of the Companies Act 2006 which require all properties to be depreciated. Such properties are held for invetment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannnot be seperately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 May 2022 270,725 15,838 286,563
Additions 269,939 19,756 289,695
At 30 April 2023 540,664 35,594 576,258
Depreciation
At 1 May 2022 - 1,584 1,584
Charge for the year - 3,559 3,559
At 30 April 2023 - 5,143 5,143
Net book value
At 30 April 2023 540,664 30,451 571,115
At 30 April 2022 270,725 14,254 284,979
4 Debtors 2023 2022
£ £
Trade debtors 15,275 -
Other debtors - 383
15,275 383
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 22,995 39,119
Accrued expenses 1,920 1,200
24,915 40,319
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans (secured) 263,925 -
Shareholders loans 319,928 270,300
583,853 270,300
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 263,925 -
Secured bank loans 263,925 -
The bank loan is secured by charges over the freehold investment properties owned by
the company.
8 Other information
S&B PROPERTY SOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
128 A Evington Road
Leicester
LE2 1HL
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