IRIS Accounts Production v24.2.0.383 02835526 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028355262022-12-31028355262023-12-31028355262023-01-012023-12-31028355262021-12-31028355262022-01-012022-12-31028355262022-12-3102835526ns15:EnglandWales2023-01-012023-12-3102835526ns14:PoundSterling2023-01-012023-12-3102835526ns10:Director12023-01-012023-12-3102835526ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102835526ns10:SmallEntities2023-01-012023-12-3102835526ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3102835526ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102835526ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102835526ns10:AbridgedAccounts2023-01-012023-12-3102835526ns10:Director22023-01-012023-12-3102835526ns10:Director32023-01-012023-12-3102835526ns10:Director42023-01-012023-12-3102835526ns10:CompanySecretary12023-01-012023-12-3102835526ns10:RegisteredOffice2023-01-012023-12-3102835526ns5:CurrentFinancialInstruments2023-12-3102835526ns5:CurrentFinancialInstruments2022-12-3102835526ns5:ShareCapital2023-12-3102835526ns5:ShareCapital2022-12-3102835526ns5:SharePremium2023-12-3102835526ns5:SharePremium2022-12-3102835526ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3102835526ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3102835526ns5:RetainedEarningsAccumulatedLosses2023-12-3102835526ns5:RetainedEarningsAccumulatedLosses2022-12-3102835526ns5:FurnitureFittings2023-01-012023-12-3102835526ns5:RetainedEarningsAccumulatedLosses2022-12-3102835526ns5:SharePremium2022-12-3102835526ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3102835526ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 02835526 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SIXTH PROPERTY CO. LIMITED

SIXTH PROPERTY CO. LIMITED (REGISTERED NUMBER: 02835526)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SIXTH PROPERTY CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: E. Fletcher
K. A. Taylor
G. Morris
Mrs H. A. Thompson





SECRETARY: G. Morris





REGISTERED OFFICE: 200 Drake Street
Rochdale
Lancashire
OL16 1PJ





REGISTERED NUMBER: 02835526 (England and Wales)





ACCOUNTANTS: Wyatt Morris Golland Ltd
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

SIXTH PROPERTY CO. LIMITED (REGISTERED NUMBER: 02835526)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 473 556
Investments 5 1,569,497 1,477,086
Investment properties 6 4,089,604 4,089,604
5,659,574 5,567,246

CURRENT ASSETS
Debtors 288,055 9,231
Cash at bank 19,520 315,523
307,575 324,754
CREDITORS
Amounts falling due within one year 144,904 77,272
NET CURRENT ASSETS 162,671 247,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,822,245

5,814,728

CAPITAL AND RESERVES
Called up share capital 1,532,200 1,532,200
Share premium 7 130 130
Fair value reserve 7 2,347,178 2,347,178
Retained earnings 7 1,942,737 1,935,220
SHAREHOLDERS' FUNDS 5,822,245 5,814,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 July 2024 and were signed on its behalf by:





K. A. Taylor - Director


SIXTH PROPERTY CO. LIMITED (REGISTERED NUMBER: 02835526)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sixth Property Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, Fixtures & Fittings - 15% on reducing balance

Investment properties
The investment properties relate to properties held to earn rentals and for capital appreciation. The properties are initially measured at cost, including transaction costs.The properties are subsequently measured at fair value.

The investment property valuations are based on an open market value and carried out by the directors on a regular basis. Deferred tax and costs to realise property values are provided, where appropriate.

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.

Investments
Fixed asset investments are included at the lower of cost or fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

SIXTH PROPERTY CO. LIMITED (REGISTERED NUMBER: 02835526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 47,670
DEPRECIATION
At 1 January 2023 47,114
Charge for year 83
At 31 December 2023 47,197
NET BOOK VALUE
At 31 December 2023 473
At 31 December 2022 556

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023 1,477,086
Additions 92,411
At 31 December 2023 1,569,497
NET BOOK VALUE
At 31 December 2023 1,569,497
At 31 December 2022 1,477,086

The company owns share capital in the following property management companies at cost:-

2023 2022
£ £
North Manchester Properties Limited (123900 £1 ordinary shares) 293,127 293,127
Third Property Company Limited (185,378 £1 ordinary shares) 425,523 385,612
Fourth Property Company Limited (225,600 £1 ordinary shares) 466,845 466,845
Fifth Property Company Limited (200,600 £1 ordinary shares) 384,002 331,502
1,569,497 1,477,086

The investment level in Third and Fourth Property Company Ltd is sufficient to make them associated companies.

6. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 4,089,604
NET BOOK VALUE
At 31 December 2023 4,089,604
At 31 December 2022 4,089,604

In the directors opinion, the value of the investment properties have not materially changed.

If the properties had not been revalued they would have been included at historical cost of £1,742,426.

SIXTH PROPERTY CO. LIMITED (REGISTERED NUMBER: 02835526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 1,935,220 130 2,347,178 4,282,528
Profit for the year 176,059 176,059
Dividends (168,542 ) (168,542 )
At 31 December 2023 1,942,737 130 2,347,178 4,290,045

Included in reserves is a non-distributable reserve of £2,347,178 arising on the revaluation of the investment properties to fair value.