Registered number
09441254
Saxon Square Christchurch Limited
Filleted Accounts
31 December 2023
Saxon Square Christchurch Limited
Registered number: 09441254
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,000,000 12,150,000
Current assets
Debtors 4 456,118 463,107
Cash at bank and in hand 105,956 190,806
562,074 653,913
Creditors: amounts falling due within one year 5 (3,757,384) (3,622,468)
Net current liabilities (3,195,310) (2,968,555)
Total assets less current liabilities 9,804,690 9,181,445
Creditors: amounts falling due after more than one year 6 (4,828,189) (5,467,744)
Net assets 4,976,501 3,713,701
Capital and reserves
Called up share capital 3,510,000 3,510,000
Share premium 1,283,333 1,283,333
Profit and loss account 183,168 (1,079,632)
Shareholders' funds 4,976,501 3,713,701
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M R Shooter on behalf of Kingscroft Estates LLP
Director
Approved by the board on 12 July 2024
Saxon Square Christchurch Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents receivable and other similar income.
Investment property
Investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Costs of obtaining loan finance
Where they are significant, incidental costs of obtaining loan finance are spread over the term of the relevant loan.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Freehold investment property
£
Fair value
At 1 January 2023 12,150,000
Surplus on revaluation 850,000
At 31 December 2023 13,000,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 13,000,000
At 31 December 2022 12,150,000
4 Debtors 2023 2022
£ £
Trade debtors 83,265 103,225
Other debtors 372,853 359,882
456,118 463,107
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 450,000 450,001
Shareholders' loans 2,510,819 2,510,819
Trade creditors 7,388 7,760
Corporation tax 208,994 108,122
Other taxes and social security costs 62,871 64,709
Other creditors 517,312 481,057
3,757,384 3,622,468
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,828,189 5,467,744
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 2,806,968 3,441,911
Secured bank loans 5,246,968 5,881,911
The loan is secured by a first legal charge over the company's property and by a floating charge over the company's assets and undertaking.
8 Other information
Saxon Square Christchurch Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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