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Company Registration No. 11618288 (England and Wales)
Souto & James Properties Ltd Unaudited accounts for the year ended 31 October 2023
Souto & James Properties Ltd Unaudited accounts Contents
Page
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Souto & James Properties Ltd Company Information for the year ended 31 October 2023
Directors
H B Moriarty-Souto C R James
Company Number
11618288 (England and Wales)
Registered Office
664 Newport Road Rumney Cardiff CF3 4DF United Kingdom
Accountants
Cadre Advisory Ltd Embassy Offices, Stangate House Stanwell Road Penarth CF64 2AA
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Souto & James Properties Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
868,549 
508,457 
Current assets
Debtors
24,048 
- 
Cash at bank and in hand
1,618 
643 
25,666 
643 
Creditors: amounts falling due within one year
(137,395)
(47,532)
Net current liabilities
(111,729)
(46,889)
Total assets less current liabilities
756,820 
461,568 
Creditors: amounts falling due after more than one year
(715,831)
(409,367)
Provisions for liabilities
Deferred tax
(8,729)
(8,729)
Net assets
32,260 
43,472 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
45,942 
45,942 
Profit and loss account
(13,684)
(2,472)
Shareholders' funds
32,260 
43,472 
For the year ending 31 October 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 3 September 2024 and were signed on its behalf by
C R James Director Company Registration No. 11618288
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Souto & James Properties Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Souto & James Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11618288. The registered office is 664 Newport Road, Rumney, Cardiff, CF3 4DF, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation has been provided in respect of the company's freehold investment property as the open market valuation at the balance sheet date is considered to be not less than its original cost
4
Investment property
2023 
£ 
Fair value at 1 November 2022
508,457 
Additions
360,092 
At 31 October 2023
868,549 
The company's Directors consider the open market valuation of the company's freehold investment property to not be less than its original cost. The directors review this valuation on an annual basis
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
9,620 
- 
Other debtors
14,428 
- 
24,048 
- 
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Souto & James Properties Ltd Notes to the Accounts for the year ended 31 October 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
22,369 
8,953 
Taxes and social security
- 
(11)
Loans from directors
115,026 
36,970 
Accruals
- 
1,620 
137,395 
47,532 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
715,831 
409,367 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
H B Moriarty-Souto
- 
14,428 
- 
14,428 
- 
14,428 
- 
14,428 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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