Company No:
Contents
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 |
Note | 31.08.2023 | |
£ | ||
Fixed assets | ||
Investment property | 3 |
|
246,077 | ||
Current assets | ||
Debtors | 4 |
|
Cash at bank and in hand |
|
|
11,167 | ||
Creditors: amounts falling due within one year | 5 | (
|
Net current liabilities | (92,333) | |
Total assets less current liabilities | 153,744 | |
Creditors: amounts falling due after more than one year | 6 | (
|
Net liabilities | (
|
|
Capital and reserves | ||
Called-up share capital | 8 |
|
Profit and loss account | (
|
|
Total shareholders' deficit | (
|
Directors' responsibilities:
The financial statements of SOS Property Services Ltd (registered number:
Mr S A O'Sullivan
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
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.
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.
Period from 19.04.2022 to 31.08.2023 |
|
Number | |
Monthly average number of persons employed by the Company during the period, including directors |
|
Investment property | |
£ | |
Valuation | |
As at 19 April 2022 |
|
Additions | 246,077 |
As at 31 August 2023 |
|
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.
31.08.2023 | |
£ | |
Prepayments |
|
Deferred tax asset |
|
|
31.08.2023 | |
£ | |
Accruals and deferred income |
|
Other creditors |
|
|
31.08.2023 | |
£ | |
Bank loans |
|
31.08.2023 | |
£ | |
At the beginning of financial period |
|
Credited to the Profit and Loss Account |
|
At the end of financial period |
|
31.08.2023 | |
£ | |
Allotted, called-up and fully-paid | |
|
|
|
|
100 |