REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD (REGISTERED NUMBER: 11705197) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD |
COMPANY INFORMATION |
for the Year Ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
206 Endeavour House |
Wrest Park |
Silsoe |
Bedfordshire |
MK45 4HS |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD (REGISTERED NUMBER: 11705197) |
REPORT OF THE DIRECTORS |
for the Year Ended 30 November 2023 |
The directors present their report with the financial statements of the company for the year ended 30 November 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD (REGISTERED NUMBER: 11705197) |
INCOME STATEMENT |
for the Year Ended 30 November 2023 |
2022 | 2023 |
£ | Notes | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,385,010 | (59,738 | ) |
Other operating income |
OPERATING PROFIT |
- | Gain/loss on revaluation of investment property |
150,000 |
1,469,079 | 175,262 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit | 4 |
PROFIT FOR THE FINANCIAL YEAR |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD (REGISTERED NUMBER: 11705197) |
BALANCE SHEET |
30 November 2023 |
2022 | 2023 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 7 |
( |
) | NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
( |
) | Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD (REGISTERED NUMBER: 11705197) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Southampton Student Developments Ltd is a private company, limited by shares and registered in England and Wales. |
The company's registered number and registered office address are as follows |
Registered number: 11705197 |
Registered office: 206 Endeavour House |
Wrest Park |
Silsoe |
Bedfordshire |
MK45 4HS |
The presentation currency of the financial statements is in the Pound Sterling (£) |
The principal activity of the company during the year under review was that of letting and operating of own real estate |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
As with most businesses the company has been impacted by the Coronavirus (Covid 19). This has had an impact on the business operations, clients and service providers. The company is not eligible for the various grants and benefits available from the Government but are taking all the steps necessary to protect the future of the business. |
Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis. |
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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
SOUTHAMPTON STUDENT DEVELOPMENTS LTD (REGISTERED NUMBER: 11705197) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2023 | 2022 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2022 |
Revaluations | 150,000 |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Fair value at 30 November 2023 is represented by: |
£ |
Valuation in 2023 | 5,400,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Tax |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |