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REGISTERED NUMBER: 09043067 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SBSL DEVELOPMENTS LIMITED

SBSL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09043067)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SBSL DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S J Bygrave
S R Lancaster





REGISTERED OFFICE: Room 73 Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 09043067 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

SBSL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09043067)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 462,306 462,306

CURRENT ASSETS
Debtors 5 791 238
Cash at bank 3,157 10,676
3,948 10,914
CREDITORS
Amounts falling due within one year 6 409,499 424,657
NET CURRENT LIABILITIES (405,551 ) (413,743 )
TOTAL ASSETS LESS CURRENT LIABILITIES 56,755 48,563

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 56,655 48,463
SHAREHOLDERS' FUNDS 56,755 48,563

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

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

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

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:





S R Lancaster - Director


SBSL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09043067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

SBSL Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 June 2023
and 31 May 2024 462,306
Net book value
At 31 May 2024 462,306
At 31 May 2023 462,306

The directors consider the valuation of the investment property at the Balance Sheet date to be the current market value of the property valuation and as such, no depreciation has been charged in respect of this asset class. Any aggregate surplus or deficit arising from changes in fair value is to be recognised in profit or loss.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 791 238

SBSL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09043067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 2,369 1,874
Directors' loan accounts 405,930 420,658
Accruals and deferred income 1,200 2,125
409,499 424,657

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

Both share classes rank pari-passu in all respects.

8. RELATED PARTY DISCLOSURES

Included within creditors is an amount of £198,770 (2023: £204,793) due to S J Bygrave, director. No interest has been charged on this balance during the year (2023: £Nil) and there are no set repayment terms.

Included within creditors is an amount of £207,160 (2023: £215,865) due to S R Lancaster, director. No interest has been charged on this balance during the year (2023: £Nil) and there are no set repayment terms.