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
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
Souto & James Properties Ltd
Statement of financial position
as at 31 October 2023
Investment property
868,549
508,457
Cash at bank and in hand
1,618
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)
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
Souto & James Properties Ltd
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
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 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
Fair value at 1 November 2022
508,457
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
Amounts falling due within one year
Amounts due from group undertakings etc.
9,620
-
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
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
715,831
409,367
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).