Company Registration No. 07841210 (England and Wales)
SIPP Property Investments 2 TG Ltd
Unaudited accounts
for the year ended 30 November 2023
SIPP Property Investments 2 TG Ltd
Unaudited accounts
Contents
SIPP Property Investments 2 TG Ltd
Company Information
for the year ended 30 November 2023
Directors
David Sloan
Luke Sloan
Company Number
07841210 (England and Wales)
Registered Office
25 Barons Close
Llantwit Major
CF61 1TD
Accountants
Nathan Evans Limited
16 Cambrian Way
Marshfield
Cardiff
CF3 2WB
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SIPP Property Investments 2 TG Ltd for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
SIPP Property Investments 2 TG Ltd for the year ended
30 November 2023 as set out on pages
5 -
7 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 icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Nathan Evans Limited
Chartered Accountants
16 Cambrian Way
Marshfield
Cardiff
CF3 2WB
14 August 2024
SIPP Property Investments 2 TG Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
1,200,000
1,200,000
Cash at bank and in hand
15,073
22,525
Creditors: amounts falling due within one year
(375,496)
(302,500)
Net current liabilities
(253,456)
(272,365)
Total assets less current liabilities
946,544
927,635
Creditors: amounts falling due after more than one year
(14,500)
(21,750)
Net assets
932,044
905,885
Called up share capital
100
100
Revaluation reserve
875,000
875,000
Profit and loss account
56,944
30,785
Shareholders' funds
932,044
905,885
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by
Luke Sloan
Director
Company Registration No. 07841210
SIPP Property Investments 2 TG Ltd
Notes to the Accounts
for the year ended 30 November 2023
SIPP Property Investments 2 TG Ltd is a private company, limited by shares, registered in England and Wales, registration number 07841210. The registered office is 25 Barons Close, Llantwit Major, CF61 1TD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years straight line
Fixtures & fittings
3 years straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
1,200,000
58,650
36,246
1,294,896
At 30 November 2023
1,200,000
58,650
36,246
1,294,896
At 1 December 2022
-
58,650
36,246
94,896
At 30 November 2023
-
58,650
36,246
94,896
At 30 November 2023
1,200,000
-
-
1,200,000
At 30 November 2022
1,200,000
-
-
1,200,000
SIPP Property Investments 2 TG Ltd
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Trade debtors
106,967
7,610
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,250
7,250
Trade creditors
1,584
1,771
Taxes and social security
9,291
3,843
Loans from directors
265,787
287,359
7
Creditors: amounts falling due after more than one year
2023
2022
8
Transactions with related parties
The company was under the control of Mr David Sloan throughout the year. Mr Sloan owns 100% of the issued share capital of the company.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).