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REGISTERED NUMBER: 03541194 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Sussex Heritage Properties Limited

Sussex Heritage Properties Limited (Registered number: 03541194)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Sussex Heritage Properties Limited (Registered number: 03541194)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible fixed assets 4 1,297 -
Investments 5 4 4
Investment property 6 1,784,750 1,642,124
1,786,051 1,642,128

Current assets
Debtors 7 56,968 53,324
Cash at bank 118,688 43,738
175,656 97,062
Creditors: amounts falling due within
one year

8

414,702

422,016
Net current liabilities (239,046 ) (324,954 )
Total assets less current liabilities 1,547,005 1,317,174

Creditors: amounts falling due after
more than one year

9

(231,785

)

-

Provisions for liabilities (99,981 ) (122,722 )
Net assets 1,215,239 1,194,452

Sussex Heritage Properties Limited (Registered number: 03541194)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 11 100 100
Fair value reserve 12 579,950 565,293
Retained earnings 635,189 629,059
Shareholders' funds 1,215,239 1,194,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2024 and were signed by:





C R Oakley - Director


Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Sussex Heritage Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03541194

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the rents receivable for the period.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 25% straight line
Fixtures and Fittings - 25% straight line

Investment property
Investment properties are measured at their fair value at the balance sheet date. The surplus or deficit on the fair value adjustment is recognised in the profit and loss account.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Tangible fixed assets
Fixtures
and
fittings Equipment Totals
£    £    £   
Cost
At 1 May 2023 - 3,527 3,527
Additions 1,474 - 1,474
Disposals - (3,527 ) (3,527 )
At 30 April 2024 1,474 - 1,474
Depreciation
At 1 May 2023 - 3,527 3,527
Charge for year 177 - 177
Eliminated on disposal - (3,527 ) (3,527 )
At 30 April 2024 177 - 177
Net book value
At 30 April 2024 1,297 - 1,297
At 30 April 2023 - - -

Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. Fixed asset investments
Other
investments
£   
Cost
At 1 May 2023
and 30 April 2024 4
Net book value
At 30 April 2024 4
At 30 April 2023 4

6. Investment property
Total
£   
Fair value
At 1 May 2023 1,642,124
Additions 170,709
Revaluations (8,083 )
Reclassification/transfer (20,000 )
At 30 April 2024 1,784,750
Net book value
At 30 April 2024 1,784,750
At 30 April 2023 1,642,124

The fair value of the properties at the balance sheet date was determined by the director. The open market value based on similar properties is assumed to be the fair value.

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 56,968 53,324

Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 240
Taxation and social security 1,235 5,904
Other creditors 413,467 415,872
414,702 422,016

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 231,785 -

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 231,785 -

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 231,785 -

The bank loans are secured by a first legal mortgage on the freehold properties and a personal guarantee from the director.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary A shares £1 80 80
20 Ordinary B shares £1 20 20
100 100

Sussex Heritage Properties Limited (Registered number: 03541194)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. Reserves
Fair
value
reserve
£   
At 1 May 2023 565,293
Revaluation (90,961 )
Transfer 105,618

At 30 April 2024 579,950

13. Director's advances, credits and guarantees

During the year, the company advanced the directors £7,896 (2023: £69,353) and they repaid £0 (2023: £40,000). At the year end, the directors owed the company £11,375 (2023: £3,479). The advances were interest-free, unsecured and repayable on demand.