Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-01-01false2falsefalse SC524081 2023-01-01 2023-12-31 SC524081 2022-01-01 2022-12-31 SC524081 2023-12-31 SC524081 2022-12-31 SC524081 c:Director1 2023-01-01 2023-12-31 SC524081 c:Director2 2023-01-01 2023-12-31 SC524081 c:RegisteredOffice 2023-01-01 2023-12-31 SC524081 d:Buildings 2023-01-01 2023-12-31 SC524081 d:Buildings 2023-12-31 SC524081 d:Buildings 2022-12-31 SC524081 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC524081 d:MotorVehicles 2023-01-01 2023-12-31 SC524081 d:MotorVehicles 2023-12-31 SC524081 d:MotorVehicles 2022-12-31 SC524081 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC524081 d:FurnitureFittings 2023-01-01 2023-12-31 SC524081 d:FurnitureFittings 2023-12-31 SC524081 d:FurnitureFittings 2022-12-31 SC524081 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC524081 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC524081 d:CurrentFinancialInstruments 2023-12-31 SC524081 d:CurrentFinancialInstruments 2022-12-31 SC524081 d:Non-currentFinancialInstruments 2023-12-31 SC524081 d:Non-currentFinancialInstruments 2022-12-31 SC524081 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC524081 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC524081 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC524081 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC524081 d:ShareCapital 2023-12-31 SC524081 d:ShareCapital 2022-12-31 SC524081 d:RevaluationReserve 2023-12-31 SC524081 d:RevaluationReserve 2022-12-31 SC524081 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC524081 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC524081 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC524081 c:OrdinaryShareClass1 2023-12-31 SC524081 c:OrdinaryShareClass1 2022-12-31 SC524081 c:FRS102 2023-01-01 2023-12-31 SC524081 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC524081 c:FullAccounts 2023-01-01 2023-12-31 SC524081 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC524081 5 2023-01-01 2023-12-31 SC524081 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC524081










5SR PROPERTY HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
5SR PROPERTY HOLDINGS LIMITED
 

COMPANY INFORMATION


Directors
Mr S Reilly 
Mr S Reilly 




Registered number
SC524081



Registered office
SR House
18 Tom Johnston Road

Dundee

DD4 8XD




Accountants
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
5SR PROPERTY HOLDINGS LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 5SR PROPERTY HOLDINGS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 5SR Property Holdings Limited for the year ended 31 December 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of 5SR Property Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 20 SeptemberOur work has been undertaken solely to prepare for your approval the financial statements of 5SR Property Holdings Limited and state those matters that we have agreed to state to the Board of Directors of 5SR Property Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 5SR Property Holdings Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that 5SR Property Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 5SR Property Holdings Limited. You consider that 5SR Property Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of 5SR Property Holdings Limited. 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 statutory financial statements.

  



EQ Accountants Limited
 
Chartered Accountants
  
Westby
64 West High Street
Forfar
Angus
DD8 1BJ
16 August 2024
Page 1

 
5SR PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: SC524081

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
3,073,877
3,061,340

  
3,073,877
3,061,340

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
3,874
5,000

Cash at bank and in hand
  
44,907
50,292

  
48,781
55,292

Creditors: amounts falling due within one year
 6 
(1,439,278)
(1,470,774)

NET CURRENT LIABILITIES
  
 
 
(1,390,497)
 
 
(1,415,482)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,683,380
1,645,858

Creditors: amounts falling due after more than one year
 7 
(867,905)
(965,299)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(43,607)
(35,097)

  
 
 
(43,607)
 
 
(35,097)

NET ASSETS
  
771,868
645,462


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Revaluation reserve
  
177,105
177,105

Profit and loss account
  
594,663
468,257

  
771,868
645,462

Page 2

 
5SR PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: SC524081

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 August 2024.




Mr S Reilly
Director

The notes on pages 4 to 8 form part of these financial statements.
Page 3

 
5SR PROPERTY HOLDINGS LIMITED
 

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

1.


GENERAL INFORMATION

5SR Property Holdings Limited is a private company, limited by shares, incorporated in Scotland with registration number SC524081. The registered office is SR House, 18 Tom Johnston Road, Dundee DD4 8XD.
The financial statements are presented in Sterling which is the functional currency of the Company, rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
5SR PROPERTY HOLDINGS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
5SR PROPERTY HOLDINGS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
5SR PROPERTY HOLDINGS LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 January 2023
3,013,952
54,411
8,106
3,076,469


Additions
67,350
-
4,480
71,830



At 31 December 2023

3,081,302
54,411
12,586
3,148,299



DEPRECIATION


At 1 January 2023
-
13,603
1,526
15,129


Charge for the year on owned assets
46,326
10,202
2,765
59,293



At 31 December 2023

46,326
23,805
4,291
74,422



NET BOOK VALUE



At 31 December 2023
3,034,976
30,606
8,295
3,073,877



At 31 December 2022
3,013,952
40,808
6,580
3,061,340


5.


DEBTORS

2023
2022
£
£


Other debtors
-
5,000

Prepayments and accrued income
3,874
-

3,874
5,000


Page 7

 
5SR PROPERTY HOLDINGS LIMITED
 

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

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
117,052
107,588

Other loans
23,780
26,916

Trade creditors
38,902
26,404

Other taxation and social security
26,530
55,246

Obligations under finance lease and hire purchase contracts
11,250
10,486

Other creditors
1,150,264
1,172,634

Accruals and deferred income
71,500
71,500

1,439,278
1,470,774



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
814,597
830,741

Net obligations under finance leases and hire purchase contracts
18,308
29,558

Accruals and deferred income
35,000
105,000

867,905
965,299



8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 8