0 false false false false false false false false false false true false false false false true false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09449212 2023-01-01 2023-12-31 09449212 2023-12-31 09449212 2022-12-31 09449212 2022-01-01 2022-12-31 09449212 2022-12-31 09449212 2021-12-31 09449212 core:PlantMachinery 2023-01-01 2023-12-31 09449212 core:FurnitureFittings 2023-01-01 2023-12-31 09449212 bus:Director1 2023-01-01 2023-12-31 09449212 core:PlantMachinery 2022-12-31 09449212 core:FurnitureFittings 2022-12-31 09449212 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 09449212 core:PlantMachinery 2023-12-31 09449212 core:FurnitureFittings 2023-12-31 09449212 core:WithinOneYear 2023-12-31 09449212 core:WithinOneYear 2022-12-31 09449212 core:AfterOneYear 2023-12-31 09449212 core:AfterOneYear 2022-12-31 09449212 core:ShareCapital 2023-12-31 09449212 core:ShareCapital 2022-12-31 09449212 core:RevaluationReserve 2023-12-31 09449212 core:RevaluationReserve 2022-12-31 09449212 core:RetainedEarningsAccumulatedLosses 2023-12-31 09449212 core:RetainedEarningsAccumulatedLosses 2022-12-31 09449212 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 09449212 core:PlantMachinery 2022-12-31 09449212 core:FurnitureFittings 2022-12-31 09449212 bus:SmallEntities 2023-01-01 2023-12-31 09449212 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09449212 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09449212 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09449212 bus:FullAccounts 2023-01-01 2023-12-31 09449212 core:ComputerEquipment 2023-01-01 2023-12-31 09449212 core:ComputerEquipment 2023-12-31 09449212 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 09449212 core:ComputerEquipment 2022-12-31 09449212 core:InvestmentPropertyIncludedWithinPPE 2022-12-31
COMPANY REGISTRATION NUMBER: 09449212
S A M HARPER PROPERTY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
S A M HARPER PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
1,467,469
1,470,459
Current assets
Debtors
5
75,178
61,891
Cash at bank and in hand
18,393
69,048
--------
---------
93,571
130,939
Creditors: amounts falling due within one year
6
565,114
577,497
---------
---------
Net current liabilities
471,543
446,558
------------
------------
Total assets less current liabilities
995,926
1,023,901
Creditors: amounts falling due after more than one year
7
833,699
856,105
Provisions
Taxation including deferred tax
2,731
5,416
---------
------------
Net assets
159,496
162,380
---------
------------
Capital and reserves
Called up share capital
30,000
30,000
Revaluation reserve
8,304
8,304
Profit and loss account
121,192
124,076
---------
---------
Shareholders funds
159,496
162,380
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
S A M HARPER PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 10 August 2024 , and are signed on behalf of the board by:
Mr M T Harper
Director
Company registration number: 09449212
S A M HARPER PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 London Street, Reading, RG1 4PN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% straight line
Fixtures and Fittings
-
25% straight line
Equipment
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity .
4. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Investment property
Total
£
£
£
£
£
£
Cost
At 1 Jan 2023 and 31 Dec 2023
123,800
2,893
3,859
12,607
1,340,529
1,483,688
---------
-------
-------
--------
------------
------------
Depreciation
At 1 Jan 2023
1,447
1,929
9,853
13,229
Charge for the year
723
965
1,302
2,990
---------
-------
-------
--------
------------
------------
At 31 Dec 2023
2,170
2,894
11,155
16,219
---------
-------
-------
--------
------------
------------
Carrying amount
At 31 Dec 2023
123,800
723
965
1,452
1,340,529
1,467,469
---------
-------
-------
--------
------------
------------
At 31 Dec 2022
123,800
1,446
1,930
2,754
1,340,529
1,470,459
---------
-------
-------
--------
------------
------------
The investment properties and land were revalued in year end 31 December 2020 on a market value basis. The valuation was prepared for and on behalf of Robinson & Hall LLP by a MRICS member. The directors consider the values presented at the year end to be not materially different to fair value.
5. Debtors
2023
2022
£
£
Trade debtors
74,674
51,412
Other debtors
504
10,479
--------
--------
75,178
61,891
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
24,406
24,406
Trade creditors
22,375
34,646
Corporation tax
480
11,192
Social security and other taxes
5,899
11,999
Other creditors
511,954
495,254
---------
---------
565,114
577,497
---------
---------
The bank loan is secured by way of a charge over the company's land.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
433,581
457,987
Other creditors
400,118
398,118
---------
---------
833,699
856,105
---------
---------
The bank loan is secured by way of a charge over the company's land.
Within other creditors is a loan of £400,118 which is secured by way of a charge over the company's land.