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REGISTERED NUMBER: 00870967 (England and Wales)















ST GEORGE SECURITIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ST GEORGE SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Eva Bower
Ann Elizabeth Hill
Ruth Katherine Bower
Mark David Bower





SECRETARY: Ruth Katherine Bower





REGISTERED OFFICE: 6 Church Row
Hampstead
London
NW3 6UT





REGISTERED NUMBER: 00870967 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 302 387
Investment property 5 7,344,513 6,259,550
7,344,815 6,259,937

CURRENT ASSETS
Debtors 6 386,224 419,717
Cash at bank 1,493,578 2,486,152
1,879,802 2,905,869
CREDITORS
Amounts falling due within one year 7 225,931 219,157
NET CURRENT ASSETS 1,653,871 2,686,712
TOTAL ASSETS LESS CURRENT LIABILITIES 8,998,686 8,946,649

PROVISIONS FOR LIABILITIES 164,043 242,015
NET ASSETS 8,834,643 8,704,634

CAPITAL AND RESERVES
Called up share capital 8 63 63
Other reserves 2,808,859 2,730,887
Retained earnings 6,025,721 5,973,684
SHAREHOLDERS' FUNDS 8,834,643 8,704,634

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

BALANCE SHEET - continued
31ST DECEMBER 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 Income Statement has not been delivered.

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




Eva Bower - Director Mark David Bower - Director




Ruth Katherine Bower - Director Ann Elizabeth Hill - Director


ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

St George Securities Limited 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 (£).


The significant accounting policies applied in the presentation of the financial statements are set out below and have been consistently applied to all years unless otherwise stated.

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
Turnover represents rents receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% straight line on cost

Investment properties
Properties classified as investment properties are those what are held for long-term rental yields or for capital appreciation.

Investment properties are initially measured at cost. After initial recognition, investment properties are carried at their fair value. Any adjustment to the fair value of the investment properties is recognised in the Income Statement for the year.

In accordance with FRS 102 no depreciation is provided in respect of freehold properties held as investments.

This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

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.


ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Financial instruments
Trade and other debtors/creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Subsequent to initial recognition, they are measured at transaction price less any impairment losses. Trade and other creditors are recognised at transaction price plus attributable transaction costs.

Cash and cash equivalents
Cash and cash equivalents comprise of cash balances and deposits.

Other reserves
Other reserve is a non-distributable reserve and represents the net balance of adjustment to the fair value of the investment properties and the related deferred tax provision.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st January 2023
and 31st December 2023 422
DEPRECIATION
At 1st January 2023 35
Charge for year 85
At 31st December 2023 120
NET BOOK VALUE
At 31st December 2023 302
At 31st December 2022 387

ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 6,259,550
Additions 1,084,963
At 31st December 2023 7,344,513
NET BOOK VALUE
At 31st December 2023 7,344,513
At 31st December 2022 6,259,550

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2001 2,354,086
Valuation in 2002 126,816
Valuation in 2003 (319,599 )
Valuation in 2009 100,000
Valuation in 2016 857,448
Valuation in 2018 (1,889 )
Valuation in 2019 (143,960 )
Cost 4,371,611
7,344,513

Investment properties are carried at their fair value, based on market value. Any adjustment to the fair value of the investment properties is recognised in the Income Statement for the year.

The unrealised fair value adjustment and its related deferred tax provision are shown within "Other reserves" in the Balance Sheet.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 73,085 135,135
Other debtors 313,139 284,582
386,224 419,717

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 70,350 60,313
Other creditors 155,581 158,844
225,931 219,157

ST GEORGE SECURITIES LIMITED (REGISTERED NUMBER: 00870967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
630 Ordinary £0.10 63 63