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REGISTERED NUMBER: 09033539 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

S25I LTD

S25I LTD (REGISTERED NUMBER: 09033539)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S25I LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: M G Fitzgerald
E P Norris





REGISTERED OFFICE: First Floor
Unit 4
Broadfield Court
Sheffield
South Yorkshire
S8 0XF





REGISTERED NUMBER: 09033539 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

S25I LTD (REGISTERED NUMBER: 09033539)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,451,189 955,784

CURRENT ASSETS
Debtors 5 5,534 26,496
Cash at bank 37,818 31,028
43,352 57,524
CREDITORS
Amounts falling due within one year 6 362,848 357,035
NET CURRENT LIABILITIES (319,496 ) (299,511 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,131,693

656,273

CREDITORS
Amounts falling due after more than one
year

7

(645,332

)

(401,922

)

PROVISIONS FOR LIABILITIES (46,770 ) (22,726 )
NET ASSETS 439,591 231,625

CAPITAL AND RESERVES
Called up share capital 12 12
Fair value reserve 9 163,037 85,528
Retained earnings 9 276,542 146,085
439,591 231,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

S25I LTD (REGISTERED NUMBER: 09033539)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





M G Fitzgerald - Director


S25I LTD (REGISTERED NUMBER: 09033539)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

S25i Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Rental income represents the rents due for the year under operating leases all of which relate to properties in the United Kingdom.

Investment property
Investment property is shown at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

S25I LTD (REGISTERED NUMBER: 09033539)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 955,784
Additions 518,324
Disposals (210,000 )
Revaluations 187,081
At 30 September 2023 1,451,189
NET BOOK VALUE
At 30 September 2023 1,451,189
At 30 September 2022 955,784

The investment property was revalued on 30 September 2023 by the directors. The basis of this valuation was on an open market basis. The investment property has a current value of £1,451,189 (2022 - £955,784) and a carrying amount at historical cost of £1,264,109 (2022 - £847,530). The depreciation on this historical cost is £nil (2022 - £nil).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 20,586
Other debtors 5,534 5,910
5,534 26,496

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 28,138
Trade creditors 1,595 536
Taxation and social security 13,754 6,557
Other creditors 347,499 321,804
362,848 357,035

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 645,332 401,922

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 277,350

S25I LTD (REGISTERED NUMBER: 09033539)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 645,332 430,060

The bank loan is secured on a first legal charge over the company's freehold properties together with an unlimited debenture over its other assets.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 October 2022 146,085 85,528 231,613
Profit for the year 213,966 213,966
Dividends (6,000 ) (6,000 )
Revaluation transfer (77,509 ) 77,509 -
At 30 September 2023 276,542 163,037 439,579

10. RELATED PARTY DISCLOSURES

Included within other creditors is an interest free loan from the directors amounting to £91,839 (2022 - £87,527).

During the year the directors charged interest to the company. The interest is calculated at 4.5% / 5.0%. Interest charged during the year was £4,726 (2022 - £3,904). At the balance sheet date interest bearing loans due to the directors totalled £100,000 (2022 - £86,750).

Also included with other creditors is an interest free loan from non-director shareholders amounting to £38,459 (2022 - £36,459).

During the year the shareholders charged interest to the company. The interest is calculated at 4.5% / 5.0%. Interest charged during the year was £4,726 (2022 - £3,904). At the balance sheet date interest bearing loans due to the shareholders totalled £100,000 (2022 - £86,750).