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REGISTERED NUMBER: 02089369 (England and Wales)














SULLIVAN PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SULLIVAN PROPERTIES LIMITED (REGISTERED NUMBER: 02089369)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SULLIVAN PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mrs C Sullivan
J M Sullivan
Ms K Sullivan





SECRETARY: Ms K Sullivan





REGISTERED OFFICE: Myrak House
Cuton Hall Lane
Springfield
Chelmsford
Essex
CM2 6PB





REGISTERED NUMBER: 02089369 (England and Wales)





ACCOUNTANTS: Brindley Jacob
Chartered Accountants
167 Turners Hill
Cheshunt
Hertfordshire
EN8 9BH

SULLIVAN PROPERTIES LIMITED (REGISTERED NUMBER: 02089369)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,243,993 1,243,993
Investments 5 1,507,500 1,507,500
2,751,493 2,751,493

CURRENT ASSETS
Debtors 755,295 755,686
Cash at bank 110,881 71,764
866,176 827,450
CREDITORS
Amounts falling due within one year 8,009 2,185
NET CURRENT ASSETS 858,167 825,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,609,660

3,576,758

PROVISIONS FOR LIABILITIES 32,017 32,016
NET ASSETS 3,577,643 3,544,742

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,499,960 1,499,960
Retained earnings 2,077,583 2,044,682
SHAREHOLDERS' FUNDS 3,577,643 3,544,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SULLIVAN PROPERTIES LIMITED (REGISTERED NUMBER: 02089369)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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 Balance Sheet for the year ended 31 March 2024 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 3 October 2024 and were signed on its behalf by:




J M Sullivan - Director



Ms K Sullivan - Director


SULLIVAN PROPERTIES LIMITED (REGISTERED NUMBER: 02089369)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Sullivan Properties 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.

Preparation of consolidated financial statements
The financial statements contain information about Sullivan Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
The subsidiary is valued at its Balance Sheet value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

SULLIVAN PROPERTIES LIMITED (REGISTERED NUMBER: 02089369)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 1,243,993
NET BOOK VALUE
At 31 March 2024 1,243,993
At 31 March 2023 1,243,993

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 1,507,500
NET BOOK VALUE
At 31 March 2024 1,507,500
At 31 March 2023 1,507,500

6. ULTIMATE CONTROLLING PARTY

The company is the ultimate controlling party of its wholly owned subsidiary Myrak Limited.