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Registration number: 14218534

Simon's Stores Property Holding Company Ltd

Annual Report and Financial Statements

for the Period from 6 July 2022 to 31 May 2023

 

Simon's Stores Property Holding Company Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Simon's Stores Property Holding Company Ltd

Company Information



 

Director

Mr Simon Heaton

Registered office

Londis
Smithy Bank
Alton
Staffordshire
ST10 4AD

Accountants

The TAX Partnership (Derby) Limited
2 Cheapside
Derby
Derbyshire
DE1 1BR

 

Simon's Stores Property Holding Company Ltd

(Registration number: 14218534)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

417,017

Current assets

 

Cash at bank and in hand

 

6,384

Creditors: Amounts falling due within one year

5

(60,506)

Net current liabilities

 

(54,122)

Total assets less current liabilities

 

362,895

Creditors: Amounts falling due after more than one year

5

(366,450)

Net liabilities

 

(3,555)

Capital and reserves

 

Called up share capital

6

10

Retained earnings

(3,565)

Shareholders' deficit

 

(3,555)

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

Director's responsibilities:

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

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 January 2024
 

.........................................
Mr Simon Heaton
Director

 

Simon's Stores Property Holding Company Ltd

Notes to the Unaudited Financial Statements for the Period from 6 July 2022 to 31 May 2023

1

General information

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

The address of its registered office is:
Londis
Smithy Bank
Alton
Staffordshire
ST10 4AD
United Kingdom

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Simon's Stores Property Holding Company Ltd

Notes to the Unaudited Financial Statements for the Period from 6 July 2022 to 31 May 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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.

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 recognised as a 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 the director) during the period, was 1.

 

Simon's Stores Property Holding Company Ltd

Notes to the Unaudited Financial Statements for the Period from 6 July 2022 to 31 May 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

417,017

417,017

At 31 May 2023

417,017

417,017

Depreciation

Carrying amount

At 31 May 2023

417,017

417,017

Included within the net book value of land and buildings above is £417,017 in respect of freehold land and buildings.
 

 

Simon's Stores Property Holding Company Ltd

Notes to the Unaudited Financial Statements for the Period from 6 July 2022 to 31 May 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

7

6,372

Amounts owed to group undertakings and undertakings in which the company has a participating interest

53,685

Accruals and deferred income

 

450

Other creditors

 

(1)

 

60,506

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

7

366,450

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

£1 Ordinary of £1 each

10

10

     

7

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

366,450

 

Simon's Stores Property Holding Company Ltd

Notes to the Unaudited Financial Statements for the Period from 6 July 2022 to 31 May 2023

2023
£

Current loans and borrowings

Bank borrowings

6,372