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Company No: 14051465 (England and Wales)

SOS PROPERTY SERVICES LTD

Unaudited Financial Statements
For the financial period from 19 April 2022 to 31 August 2023
Pages for filing with the registrar

SOS PROPERTY SERVICES LTD

Unaudited Financial Statements

For the financial period from 19 April 2022 to 31 August 2023

Contents

SOS PROPERTY SERVICES LTD

COMPANY INFORMATION

For the financial period from 19 April 2022 to 31 August 2023
SOS PROPERTY SERVICES LTD

COMPANY INFORMATION (continued)

For the financial period from 19 April 2022 to 31 August 2023
DIRECTORS Mrs R A O'Sullivan
Mr S A O'Sullivan
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 14051465 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
SOS PROPERTY SERVICES LTD

BALANCE SHEET

As at 31 August 2023
SOS PROPERTY SERVICES LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 31.08.2023
£
Fixed assets
Investment property 3 246,077
246,077
Current assets
Debtors 4 4,401
Cash at bank and in hand 6,766
11,167
Creditors: amounts falling due within one year 5 ( 103,500)
Net current liabilities (92,333)
Total assets less current liabilities 153,744
Creditors: amounts falling due after more than one year 6 ( 165,800)
Net liabilities ( 12,056)
Capital and reserves
Called-up share capital 8 100
Profit and loss account ( 12,156 )
Total shareholders' deficit ( 12,056)

For the financial period ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of SOS Property Services Ltd (registered number: 14051465) were approved and authorised for issue by the Board of Directors on 18 January 2024. They were signed on its behalf by:

Mr S A O'Sullivan
Director
SOS PROPERTY SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 19 April 2022 to 31 August 2023
SOS PROPERTY SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 19 April 2022 to 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

SOS Property Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
United Kingdom

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. At the 31 August 2023 the company had net liabilities over assets of £12,056. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. The company recognises revenue based on its value of the services provided to date.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
19.04.2022 to
31.08.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Investment property

Investment property
£
Valuation
As at 19 April 2022 0
Additions 246,077
As at 31 August 2023 246,077

The investment property purchased during the period has not been revalued and has been considered to be at cost per the director. Therefore, there has been no revaluation adjustment included this period.

4. Debtors

31.08.2023
£
Prepayments 349
Deferred tax asset 4,052
4,401

5. Creditors: amounts falling due within one year

31.08.2023
£
Accruals and deferred income 2,500
Other creditors 101,000
103,500

6. Creditors: amounts falling due after more than one year

31.08.2023
£
Bank loans 165,800

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

31.08.2023
£
At the beginning of financial period 0
Credited to the Profit and Loss Account 4,052
At the end of financial period 4,052

8. Called-up share capital

31.08.2023
£
Allotted, called-up and fully-paid
70 Ordinary A shares shares of £ 1.00 each 70
30 Ordinary B shares shares of £ 1.00 each 30
100

On incorporation on 19 April 2022, there was an issue of share capital as detailed above.