Registered number
11579711
SBLIVING PROPERTY LTD
Filleted Accounts
30 November 2023
SBLIVING PROPERTY LTD
Registered number: 11579711
Directors' Report
The directors present their report and accounts for the year ended 30 November 2023.
Principal activities
The company's principal activity during the year continued to be rental of properties.
Directors
The following persons served as directors during the year:
Simon Bland
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 February 2024 and signed on its behalf.
Simon Bland
Director
SBLIVING PROPERTY LTD
Registered number: 11579711
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,201,519 1,029,719
Current assets
Cash at bank and in hand 25,006 30,285
Creditors: amounts falling due within one year 4 (16,646) (4,247)
Net current assets 8,360 26,038
Total assets less current liabilities 1,209,879 1,055,757
Creditors: amounts falling due after more than one year 5 (1,146,807) (1,043,010)
Net assets 63,072 12,747
Capital and reserves
Called up share capital 1 1
Profit and loss account 63,071 12,746
Shareholders' funds 63,072 12,747
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.
Simon Bland
Director
Approved by the board on 29 February 2024
SBLIVING PROPERTY LTD
Notes to the Accounts
for the year ended 30 November 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
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 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 1,029,719
Additions 171,800
At 30 November 2023 1,201,519
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 1,201,519
At 30 November 2022 1,029,719
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,395 -
Taxation and social security costs 14,826 3,822
Other creditors 425 425
16,646 4,247
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 201,656 209,690
Amounts owed to group undertakings and undertakings in which the company has a participating interest 807,761 667,761
Other creditors 137,390 165,559
1,146,807 1,043,010
6 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 833,320 833,320
Instalments falling due for payment after more than five years 209,690 209,690
1,043,010 1,043,010
Secured bank loans 209,690 209,690
7 Other information
SBLIVING PROPERTY LTD is a private company limited by shares and incorporated in England. Its registered office is:
24 St Michaels Road
Leeds
LS6 3AW
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