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REGISTERED NUMBER: 13168128 (England and Wales)















SHERBORNE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






SHERBORNE PROPERTIES LIMITED (REGISTERED NUMBER: 13168128)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHERBORNE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mrs A L Crowhurst
P L Gien
Mr M D Gien
Mrs J. Gien





REGISTERED OFFICE: 26 Maryland Place
St Albans
St Albans
United Kingdom
AL3 5FD





REGISTERED NUMBER: 13168128 (England and Wales)





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

SHERBORNE PROPERTIES LIMITED (REGISTERED NUMBER: 13168128)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,000,000 1,000,000

CURRENT ASSETS
Debtors 5 4,288 100
Cash at bank 142,111 121,645
146,399 121,745
CREDITORS
Amounts falling due within one year 6 11,235 8,085
NET CURRENT ASSETS 135,164 113,660
TOTAL ASSETS LESS CURRENT LIABILITIES 1,135,164 1,113,660

PROVISIONS FOR LIABILITIES - 170,297
NET ASSETS 1,135,164 943,363

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 - 774,100
Retained earnings 1,135,064 169,163
1,135,164 943,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

SHERBORNE PROPERTIES LIMITED (REGISTERED NUMBER: 13168128)

BALANCE SHEET - continued
31ST MARCH 2024


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 25th July 2024 and were signed on its behalf by:





Mr M D Gien - Director


SHERBORNE PROPERTIES LIMITED (REGISTERED NUMBER: 13168128)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Sherborne Properties 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are shown at their fair value and revalued annually. Any gains or losses are recognised in the statement of Profit or Loss. Deferred taxation is provided on these gains at the rate set on the balance sheet date.

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 director considers 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 director considers 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

SHERBORNE PROPERTIES LIMITED (REGISTERED NUMBER: 13168128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 1,000,000
NET BOOK VALUE
At 31st March 2024 1,000,000
At 31st March 2023 1,000,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,288 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,044 5,375
Other creditors 6,191 2,710
11,235 8,085

7. RESERVES
Fair
value
reserve
£   
At 1st April 2023 774,100
Revaluation in the year (774,100 )

At 31st March 2024 -