Registered number
10631068
SVM Estates Limited
Filleted Accounts
31 March 2024
SVM Estates Limited
Registered number: 10631068
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 1,250,000 1,250,000
Current assets
Debtors 4 7,000 847
Cash at bank and in hand 8,548 28,308
15,548 29,155
Creditors: amounts falling due within one year 5 (698,503) (700,762)
Net current liabilities (682,955) (671,607)
Total assets less current liabilities 567,045 578,393
Creditors: amounts falling due after more than one year 6 (187,163) (233,862)
Net assets 379,882 344,531
Capital and reserves
Called up share capital 100 100
Profit and loss account 379,782 344,431
Shareholders' funds 379,882 344,531
The director is 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 director acknowledges his 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.
Mr S Musa
Director
Approved by the board on 17 April 2024
SVM Estates Limited
Notes to the Accounts
for the year ended 31 March 2024
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 rental income received from property investments, rental income is recognised when it is received by the company or managing agents.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investments include property purchased by the company for the purposes of subsequent resale or letting out.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Investments
Investment
property
£
Fair value
At 1 April 2023 1,250,000
At 31 March 2024 1,250,000
Historical cost
At 1 April 2023 1,217,454
At 31 March 2024 1,217,454
Investments include freehold property which have been stated at fair value, the director has undertaken his own fair value appraisal and a fair value adjustment has been made in the accounts accordingly.
4 Debtors 2024 2023
£ £
Prepayments - 847
Other debtors 7,000 -
7,000 847
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 23,863 23,920
Accruals 600 575
Corporation tax 8,232 15,933
Other taxes and social security costs 5,908 6,434
Directors loan account 325,950 326,950
Other creditors 333,950 326,950
698,503 700,762
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 187,163 233,862
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 93,376 138,182
Secured bank loans 200,193 239,449
Lloyds Bank Plc hold a fixed and floating charge over the companys assets dated 14 March 2017.

Lloyds Bank Plc hold a fixed and floating charge over freehold property owned by the company dated 24 March 2017.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S Musa
Directors loan account (326,950) - - (326,950)
(326,950) - - (326,950)
9 Related party transactions
The company previously received a loan from Nineteenth Limited, a company that owns 50% of the share capital of SVM Estates Limited. The loan is interest free and although is repayable upon demand, the director currently has no intention of recalling it, the amount owing as at the balance sheet date was £326,950 (2023: £326,950)
10 Controlling party
The director considers there to be no overall controlling party.
11 Other information
SVM Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
252 Garstang Road
Preston
PR2 9QB
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