IRIS Accounts Production v23.3.1.45 07586975 Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075869752022-03-31075869752023-03-31075869752022-04-012023-03-31075869752021-03-31075869752021-04-012022-03-31075869752022-03-3107586975ns10:Originalns15:EnglandWales2022-04-012023-03-3107586975ns14:PoundSterlingns10:Original2022-04-012023-03-3107586975ns10:Originalns10:Director12022-04-012023-03-3107586975ns10:Original2022-04-012023-03-3107586975ns10:Original2023-03-3107586975ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3107586975ns10:Originalns10:SmallEntities2022-04-012023-03-3107586975ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3107586975ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107586975ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3107586975ns10:Originalns10:FullAccounts2022-04-012023-03-3107586975ns10:Original2021-04-012022-03-3107586975ns10:Originalns10:OrdinaryShareClass22022-04-012023-03-3107586975ns10:OrdinaryShareClass3ns10:Original2022-04-012023-03-3107586975ns10:Original2022-03-3107586975ns10:Originalns5:CurrentFinancialInstruments2023-03-3107586975ns10:Originalns5:CurrentFinancialInstruments2022-03-3107586975ns10:Originalns5:Non-currentFinancialInstruments2023-03-3107586975ns10:Originalns5:Non-currentFinancialInstruments2022-03-3107586975ns5:ShareCapitalns10:Original2023-03-3107586975ns5:ShareCapitalns10:Original2022-03-3107586975ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3107586975ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-03-3107586975ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3107586975ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3107586975ns10:Originalns10:RegisteredOffice2022-04-012023-03-3107586975ns10:Originalns5:PlantMachinery2022-04-012023-03-3107586975ns10:Originalns5:FurnitureFittings2022-04-012023-03-3107586975ns10:Originalns5:PlantMachinery2022-03-3107586975ns10:Originalns5:FurnitureFittings2022-03-3107586975ns10:Original2022-03-3107586975ns10:Originalns5:PlantMachinery2023-03-3107586975ns10:Originalns5:FurnitureFittings2023-03-3107586975ns10:Originalns5:PlantMachinery2022-03-3107586975ns10:Originalns5:FurnitureFittings2022-03-3107586975ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107586975ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3107586975ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3107586975ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-03-3107586975ns5:Securedns10:Original2023-03-3107586975ns5:Securedns10:Original2022-03-3107586975ns10:Originalns10:OrdinaryShareClass22023-03-3107586975ns10:OrdinaryShareClass3ns10:Original2023-03-3107586975ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3107586975ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-03-3107586975ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 07586975 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SUSSEX PROPERTY INVESTMENTS LIMITED

SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 6,429
Investment property 5 - 6,089,036
- 6,095,465

CURRENT ASSETS
Debtors 6 - 2,644
Cash at bank - 99,350
- 101,994
CREDITORS
Amounts falling due within one year 7 - 1,845,937
NET CURRENT LIABILITIES - (1,743,943 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

4,351,522

CREDITORS
Amounts falling due after more than one
year

8

-

(1,580,345

)

PROVISIONS FOR LIABILITIES - (429,563 )
NET ASSETS - 2,341,614

CAPITAL AND RESERVES
Called up share capital 11 608 608
Non-distributable reserves 12 - 1,986,919
Retained earnings 12 (608 ) 354,087
SHAREHOLDERS' FUNDS - 2,341,614

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Board of Directors and authorised for issue on 30 November 2023 and were signed on its behalf by:





J A Blake - Director


SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Sussex Property Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07586975

Registered office: 100 North Road
Brighton
East Sussex
BN1 1YE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.


SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 19,300 25,758 45,058
Disposals (19,300 ) (25,758 ) (45,058 )
At 31 March 2023 - - -
DEPRECIATION
At 1 April 2022 16,333 22,296 38,629
Charge for year 742 865 1,607
Eliminated on disposal (17,075 ) (23,161 ) (40,236 )
At 31 March 2023 - - -
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 2,967 3,462 6,429

SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 6,089,036
Additions 14,699
Disposals (3,687,253 )
Revaluations (2,416,482 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 6,089,036

The investment properties were all transferred at cost on 25 January 2023 to the ultimate parent undertaking as part of the group's reorganisation during the year and as more fully described in note 14.

Fair value at 31 March 2023 is represented by:
£   

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors - 2,644

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts (see note 9) - 499,999
Amounts owed to group undertakings - 385,302
Other creditors - 960,636
- 1,845,937

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans (see note 9) - 1,580,345

SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
as restated
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,572,500

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans - 499,999

Amounts falling due between one and two years:
Bank loans - 1-2 years - 7,845

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,572,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank loans - 2,080,344

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as
restated
£    £   
2 Ordinary A £1 2 2
606 Ordinary B £1 606 606
608 608

SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 April 2022 354,087 1,986,919 2,341,006
Deficit for the year (2,341,614 ) (2,341,614 )
Transfers 1,986,919 (1,986,919 ) -
At 31 March 2023 (608 ) - (608 )

Non-distributable reserves represent cumulative unrealised fair value movements on investment
properties net of provisions for deferred taxation.

Transfers between retained earnings and non-distributable reserves represent the unrealised fair value
movements on investment properties net of provisions for deferred taxation in the current year.

13. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

20232022
£   £   
Amounts owed by/(to) J A Blake (Director)-(458,736)
Amounts owed by/(to) J Eager (Director)-(458,737)
Amounts owed by/(to) ASA Consortium Limited (Group Undertaking)-(385,302)
Amounts owed by/(to) Johns' Yard Limited (Group Undertaking)--

Management fees paid to connected undertakings10,550
Interests paid to directors25,000

Connected Undertakings:
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

Interests paid to directors:
The directors received £12,500 each from the company by way of interest on their directors' accounts.

Group reorganisation:
On 25 January 2023, the company transferred all its investment properties valued at £6,089,036 at their original cost of £3,687,253 to Johns' Yard Limited (the holding company).

These transfers were carried out as part of the group's reorganisation during the year whereby all the company's investment properties are now directly owned by Johns' Yard Limited (the holding company) which has taken over all remaining assets and liabilities of the company as at 31 March 2023.

As part of the reorganisation, the intercompany balances owing from John's Yard Limited £808,346 were written off.

SUSSEX PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07586975)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


14. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Johns' Yard Limited.

The registered office of Johns' Yard Limited is Ratoath House, Hazelwood Close, Storrington, West
Sussex, RH20 3HX, England.