Company registration number 12462246 (England and Wales)
SBCROSBY HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
SBCROSBY HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
SBCROSBY HOLDINGS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
123,950
131,440
Current assets
Debtors
4
9,253
3,668
Cash at bank and in hand
2,057
6,792
11,310
10,460
Creditors: amounts falling due within one year
5
(8,811)
(8,592)
Net current assets
2,499
1,868
Total assets less current liabilities
126,449
133,308
Creditors: amounts falling due after more than one year
6
(120,982)
(120,982)
Provisions for liabilities
(4,551)
(5,974)
Net assets
916
6,352
Capital and reserves
Called up share capital
100
100
Revaluation reserve
7
23,950
31,440
Profit and loss reserves
(23,134)
(25,188)
Total equity
916
6,352
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SBCROSBY HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 September 2024
Mr S Crosby
Director
Company registration number 12462246 (England and Wales)
SBCROSBY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
SBCrosby Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Cob Close, Bradwell, Great Yarmouth, Norfolk, England, NR31 8UQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
SBCROSBY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 March 2023
131,440
Revaluations
(7,490)
At 28 February 2024
123,950
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
9,253
3,668
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
233
471
Other creditors
8,578
8,121
8,811
8,592
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
120,982
120,982
7
Revaluation reserve
2024
2023
£
£
At the beginning of the year
31,440
11,839
Cumulative fair value adjustment transferred to profit or loss on sale of investments
(7,490)
19,601
At the end of the year
23,950
31,440