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Registered number: 10434731
Sohot Property Executive Limited
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 October 2023
Director's Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountants' Report 3
Statement of Income and Retained Earnings 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Director S P Flower
Company Number 10434731
Registered Office Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Accountants Exceed Accountants Limited
Bank House
81 St Judes Road
Englefield Green
TW20 0DF
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Director's Report
The director presents his report and the financial statements for the year ended 31 October 2023.
Principal Activity
The principal activity of the company in the year under review was that of property letting and management of real estate.
Directors
The director who held office during the year were as follows:
S P Flower
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
S P Flower
Director
30/07/2024
Page 2
Page 3
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 October 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
30/07/2024
Exceed Accountants Limited
Bank House
81 St Judes Road
Englefield Green
TW20 0DF
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Page 4
Statement of Income and Retained Earnings
2023 2022
Notes £ £
TURNOVER 34,475 30,350
GROSS PROFIT 34,475 30,350
Administrative expenses (17,820 ) (13,864 )
OPERATING PROFIT 16,655 16,486
Profit on disposal of fixed assets 500 -
Other interest receivable and similar income 4 -
Interest payable and similar charges (20,801 ) (16,616 )
LOSS FOR THE FINANCIAL YEAR (3,642 ) (130 )
RETAINED EARNINGS
As at 1 November 2022 (10,032 ) (9,902 )
As at 31 October 2023 (13,674 ) (10,032 )
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 438,257 438,257
438,257 438,257
CURRENT ASSETS
Debtors 4 556 -
Cash at bank and in hand 1,061 645
1,617 645
Creditors: Amounts Falling Due Within One Year 5 (38,410 ) (33,796 )
NET CURRENT ASSETS (LIABILITIES) (36,793 ) (33,151 )
TOTAL ASSETS LESS CURRENT LIABILITIES 401,464 405,106
Creditors: Amounts Falling Due After More Than One Year 6 (415,137 ) (415,137 )
NET LIABILITIES (13,673 ) (10,031 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (13,674 ) (10,032 )
SHAREHOLDERS' FUNDS (13,673) (10,031)
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Page 6
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
S P Flower
Director
30/07/2024
The notes on pages 7 to 9 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Going Concern Disclosure
The director has formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the director has adopted the going concern basis in preparing the accounts.
1.3. Turnover
Turnover represents rents receivable on properties within the UK. Rents are receivable on a monthly basis and where payments are receivable from tenants for periods ending after the balance sheet date, the relevant proportion of rent receivable is recorded as deferred income and included as part of creditors due within one year.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold not depreciated
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2022: NIL)
- -
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3. Tangible Assets
Land & Property
Leasehold
£
Cost
As at 1 November 2022 438,257
As at 31 October 2023 438,257
Net Book Value
As at 31 October 2023 438,257
As at 1 November 2022 438,257
4. Debtors
2023 2022
£ £
Due within one year
Corporation Tax Refund 556 -
556 -
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 3,750 2,784
Accruals and deferred income 6,776 6,776
Director's loan account 27,884 24,236
38,410 33,796
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Kent Reliance mortgage 415,137 415,137
415,137 415,137
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7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Value Number 2023 2022
Allotted, called up and fully paid £ £ £
Ordinary Shares 0.01 100 1 1
8. Related Party Transactions
At the balance sheet date, included in creditors, due within one year, is an amount of £30,918 (2022: 24,236) owed to the director.
The controlling party is the company director by virtue of his shareholding.
9. Taxation
The company has surrended tax losses of £4,272 to shareholder Rectory Assured Limited in the current year. 
There are no tax losses carried forward at the reporting date.
10. General Information
Sohot Property Executive Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10434731 . The registered office is Ground Floor Marlborough House, 298 Regents Park Road, London, N3 2SZ.
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