Registered number
11204097
Severn Quay Properties Ltd
Filleted Accounts
30 March 2023
Severn Quay Properties Ltd
Registered number: 11204097
Balance Sheet
as at 30 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 24,798 28,844
Cash at bank and in hand 73,708 101,607
98,506 130,451
Creditors: amounts falling due within one year 4 (64,236) (50,239)
Net current assets 34,270 80,212
Total assets less current liabilities 34,270 80,212
Creditors: amounts falling due after more than one year 5 (33,816) (38,750)
Net assets 454 41,462
Capital and reserves
Called up share capital 100 100
Profit and loss account 354 41,362
Shareholders' funds 454 41,462
The directors are 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 directors acknowledge their 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.
Peter Mills
Director
Approved by the board on 22 December 2023
Severn Quay Properties Ltd
Notes to the Accounts
for the year ended 30 March 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 recognised at the fair value of the consideration received or receivable for goods or services provided, net of discounts and value added taxes.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 0 0
3 Debtors 2023 2022
£ £
Trade debtors 6,000 16,800
Other debtors 18,798 12,044
24,798 28,844
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,934 4,815
Trade creditors 4,970 20
Taxation and social security costs 52,332 42,688
Other creditors 2,000 2,716
64,236 50,239
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,816 38,750
6 Related party transactions
At year end, the Company was owed £6,278 (2022: £358 creditor) by the director and shareholder, P Mills. This is included in other debtors (note 3) and is interest free, unsecured and repayable on demand.

At year end, the Company was owed £6,277 (2022: £358 creditor) by the director and shareholder, S Corker. This is included in other debtors (note 3) and is interest free, unsecured and repayable on demand.
7 Controlling party
There is no controlling party. The shareholders, P Mills and S Corker, have equal shareholdings.
8 Other information
Severn Quay Properties Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Bishops Barnett
Itton Road
Chepstow
NP16 6BQ
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