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Company Registration No. 11041603 (England and Wales)
Southern Property Kent Limited Unaudited accounts for the year ended 30 November 2023
Southern Property Kent Limited Unaudited accounts Contents
Page
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Southern Property Kent Limited Company Information for the year ended 30 November 2023
Director
E Hamilton
Company Number
11041603 (England and Wales)
Registered Office
2 PAUL GARDENS CROYDON SURREY CR0 5QL UNITED KINGDOM
Accountants
Milton & Co International Accountants 2 Paul Gardens Croydon Surrey CR0 5QL
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Southern Property Kent Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
562,901 
562,901 
Current assets
Debtors
8,648 
1,096 
Cash at bank and in hand
917 
6,002 
9,565 
7,098 
Creditors: amounts falling due within one year
(4,884)
(5,250)
Net current assets
4,681 
1,848 
Total assets less current liabilities
567,582 
564,749 
Creditors: amounts falling due after more than one year
(560,079)
(559,415)
Net assets
7,503 
5,334 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,403 
5,234 
Shareholders' funds
7,503 
5,334 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 April 2024 and were signed on its behalf by
E Hamilton Director Company Registration No. 11041603
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Southern Property Kent Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Southern Property Kent Limited is a private company, limited by shares, registered in England and Wales, registration number 11041603. The registered office is 2 PAUL GARDENS, CROYDON, SURREY, CR0 5QL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is the rents received from investment property owned by the Company.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Dividends
The Director does not recommend the payment of any Dividend.
Principal Activity
The principal activity of the Company is that of owning and managing investment property.
Going concern
During the year, the Company has found it challenging with one Tenant failing to pay rent for most of the year and eviction proceedings sought and concluded together with the rise in interest rates which has led to an increase in costs. The forthcoming year will see new Tenants following the light refurbishment required since eviction and refinancing deals to reduce the cost of borrowing to maintain the profitability of the business.
4
Investment property
2023 
£ 
Fair value at 1 December 2022
562,901 
At 30 November 2023
562,901 
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Southern Property Kent Limited Notes to the Accounts for the year ended 30 November 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,684 
17 
Accrued income and prepayments
2,964 
1,079 
8,648 
1,096 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
851 
408 
Taxes and social security
1,974 
1,465 
Other creditors
312 
312 
Accruals
1,747 
3,065 
4,884 
5,250 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
392,605 
384,180 
Other creditors
167,474 
175,235 
560,079 
559,415 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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