Company registration number 12808466 (England and Wales)
SAMLET PROPERTY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
SAMLET PROPERTY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SAMLET PROPERTY LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
145,687
145,687
Current assets
Debtors
(1)
Cash at bank and in hand
9,462
10,845
9,462
10,844
Creditors: amounts falling due within one year
4
(60,039)
(65,009)
Net current liabilities
(50,577)
(54,165)
Total assets less current liabilities
95,110
91,522
Creditors: amounts falling due after more than one year
5
(96,912)
(91,912)
Net liabilities
(1,802)
(390)
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
(1,812)
(400)
Total equity
(1,802)
(390)
For the financial year ended 31 August 2024 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 12 September 2024
Mark Swinn
Director
Company registration number 12808466 (England and Wales)
SAMLET PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Samlet Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4-6 Swaby's Yard, Walkergate, Beverley, East Yorkshire, United Kingdom, HU17 9BZ.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No Depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SAMLET PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 September 2023 and 31 August 2024
145,687
Depreciation and impairment
At 1 September 2023 and 31 August 2024
Carrying amount
At 31 August 2024
145,687
At 31 August 2023
145,687
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,000
Amounts owed to group undertakings
58,000
58,000
Other creditors
2,039
2,009
60,039
65,009
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
96,912
91,912
6
Directors' transactions
The director has provided the company with a loan, which is unsecured, interest-free and repayable on demand.
7
Ultimate Controlling Party
The ultimate controlling party is M Swinn.