REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st March 2024 |
for |
SJP Group Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st March 2024 |
for |
SJP Group Limited |
SJP Group Limited (Registered number: 02847224) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SJP Group Limited |
Company Information |
for the Year Ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1-3 Manor Road |
Chatham |
Kent |
ME4 6AE |
BANKERS: |
78 New Road |
Gravesend |
Kent |
DA11 0AR |
SJP Group Limited (Registered number: 02847224) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
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. |
SJP Group Limited (Registered number: 02847224) |
Balance Sheet - continued |
31st March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SJP Group Limited (Registered number: 02847224) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
SJP Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced commissions, excluding value added tax, plus ground rents. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at their valuation on 10 June 2008. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SJP Group Limited (Registered number: 02847224) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st April 2023 |
Disposals | ( |
) | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Cost or valuation at 31st March 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2008 | 373,500 | - | 373,500 |
Valuation in 2019 | 118,500 | - | 118,500 |
Valuation in 2020 | 400 | - | 400 |
Cost | 20,000 | 10,197 | 30,197 |
512,400 | 10,197 | 522,597 |
Freehold land and buildings, investment properties and other fixed asset investments were valued at £1,133,500 by Caxtons Chartered Surveyors, on 10 June 2008 on an open market, existing use basis. The directors split this valuation between the three classes of assets. Freehold land and buildings was valued at £393,500. |
Freehold land and buildings and investment properties were valued at £1,094,000 by Caxtons Chartered Surveyors, on 14 December 2018 on an open market, existing use basis. |
Freehold land and buildings and investment properties were valued at £1,150,000 by Caxtons Chartered Surveyors, on 6 February 2020 on an open market, existing use basis. |
The directors are of the opinion that these valuations represent the current value at 31 March 2023. |
SJP Group Limited (Registered number: 02847224) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Cost or valuation at 31st March 2024 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2008 | 18,215 |
Cost | 85 |
18,300 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: England and Wales |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
SJP Group Limited (Registered number: 02847224) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2008 | 340,882 |
Valuation in 2019 | 82,200 |
Valuation in 2020 | 56,300 |
Valuation in 2023 | (108,625 | ) |
Cost | 79,218 |
449,975 |
Investment properties consist of a valuation based on income receivable from ground rents and the company's interest in a number of leasehold properties. When a leaseholder sells a unit, he may sell his share to the company or the entire unit to a third party in which case the company would be entitled to a share of the proceeds. |
As detailed in note 6, the properties were professionally valued in February 2020. |
During the year, a review was carried out on the valuation of the equity interests in properties and following on from this a reduction to the valuation was carried out. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors and prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors and accruals |
It is unlikely that the full amount due to group undertakings will be settled within one year of the balance sheet date. |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other loans |
SJP Group Limited (Registered number: 02847224) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
The loan is secured on the freehold land and buildings by way of fixed and floating charges. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is A R Pritchard. |