SIG Dennington Park Road Ltd 10156910 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true 10156910 2022-05-01 2023-04-30 10156910 2023-04-30 10156910 bus:OrdinaryShareClass1 2023-04-30 10156910 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10156910 core:Non-currentFinancialInstruments 2023-04-30 10156910 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 10156910 bus:SmallEntities 2022-05-01 2023-04-30 10156910 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 10156910 bus:FullAccounts 2022-05-01 2023-04-30 10156910 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 10156910 bus:RegisteredOffice 2022-05-01 2023-04-30 10156910 bus:Director1 2022-05-01 2023-04-30 10156910 bus:Director3 2022-05-01 2023-04-30 10156910 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 10156910 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 10156910 countries:England 2022-05-01 2023-04-30 10156910 2022-04-30 10156910 2021-05-01 2022-04-30 10156910 2022-04-30 10156910 bus:OrdinaryShareClass1 2022-04-30 10156910 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 10156910 core:Non-currentFinancialInstruments 2022-04-30 10156910 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10156910

SIG Dennington Park Road Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

SIG Dennington Park Road Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

SIG Dennington Park Road Ltd

Company Information

Directors

S Masters

P Harmer

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Company Limited
590 Green Lanes
London
N13 5RY

 

SIG Dennington Park Road Ltd

(Registration number: 10156910)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

4,500,000

4,500,000

Current assets

 

Cash at bank and in hand

 

9,304

49,745

Creditors: Amounts falling due within one year

6

(1,029,610)

(992,397)

Net current liabilities

 

(1,020,306)

(942,652)

Total assets less current liabilities

 

3,479,694

3,557,348

Creditors: Amounts falling due after more than one year

6

(2,747,439)

(2,747,439)

Provisions for liabilities

(238,056)

(238,056)

Net assets

 

494,199

571,853

Capital and reserves

 

Called up share capital

7

73

100

Capital redemption reserve

27

-

Revaluation reserve

1,014,869

1,014,869

Retained earnings

(520,770)

(443,116)

Shareholders' funds

 

494,199

571,853

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 January 2024 and signed on its behalf by:
 

.........................................
S Masters
Director

 

SIG Dennington Park Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

These financial statements were authorised for issue by the Board on 11 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

SIG Dennington Park Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being capitalised and included in the cost of the asset where directly attributable to the acquisition, construction or production of a 'qualifying asset' . Other borrowing costs are recognised as an expense and charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

SIG Dennington Park Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Investment properties

2023
£

At 1 May

4,500,000

At 30 April

4,500,000

The directors have revalued the investment properties on an open market value basis.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

2,750

2,750

Other creditors

1,026,860

989,647

1,029,610

992,397

Creditors include bank loans which are secured by way of a fixed and floating charge over the assets of the company.

 

SIG Dennington Park Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

73

73

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,747,439

2,747,439