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REGISTERED NUMBER: 13748801 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Speed Property Management Ltd

Speed Property Management Ltd (Registered number: 13748801)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Speed Property Management Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M W Speed





REGISTERED OFFICE: Apartment 1005
The Lock Building
41 Whitworth Street West
Manchester
M1 5BE





REGISTERED NUMBER: 13748801 (England and Wales)





ACCOUNTANTS: Harding & Humphries
5 Victoria Buildings
Victoria Road
Freshfield
Liverpool
Merseyside
L37 7DB

Speed Property Management Ltd (Registered number: 13748801)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 865,011 446,536

CURRENT ASSETS
Debtors 5 504 238
Cash at bank 66,873 370,219
67,377 370,457
CREDITORS
Amounts falling due within one year 6 503,149 501,389
NET CURRENT LIABILITIES (435,772 ) (130,932 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,239

315,604

CREDITORS
Amounts falling due after more than one
year

7

419,987

314,960
NET ASSETS 9,252 644

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 9,251 643
9,252 644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





M W Speed - Director


Speed Property Management Ltd (Registered number: 13748801)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Speed Property Management 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investment properties
In accordance with the Financial Reporting Standard 102 no depreciation is provided in respect of investment properties initially measured at cost and subsequently measured at fair value. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The properties owned by the company are held for investment purposes to earn rental income and capital appreciation, and not consumption. The Director believes that the company's accounting policy is necessary for the accounts to give a true and fair view.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

Speed Property Management Ltd (Registered number: 13748801)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Investment
Properties
£   
COST
At 1 January 2023 446,536
Additions 418,475
At 31 December 2023 865,011
NET BOOK VALUE
At 31 December 2023 865,011
At 31 December 2022 446,536

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 504 238

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 2,060 176
Other creditors 501,089 501,213
503,149 501,389

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 419,987 314,960

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 419,987 314,960