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REGISTERED NUMBER: 09764404 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Suffolk Properties Limited

Suffolk Properties Limited (Registered number: 09764404)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Suffolk Properties Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T Burgess
D F Gauld





SECRETARY: Mrs S C Gauld





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 09764404 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Suffolk Properties Limited (Registered number: 09764404)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 500,000 550,000

CURRENT ASSETS
Debtors 5 847 368
Cash at bank 154,693 141,556
155,540 141,924
CREDITORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR

6

454,459

456,008
NET CURRENT LIABILITIES (298,919 ) (314,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES 201,081 235,916

PROVISIONS FOR LIABILITIES 7 45,107 43,781
NET ASSETS 155,974 192,135

CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 142,797 194,123
Retained earnings 13,176 (1,989 )
SHAREHOLDERS' FUNDS 155,974 192,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Suffolk Properties Limited (Registered number: 09764404)

Balance Sheet - continued
30 April 2024


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 8 October 2024 and were signed on its behalf by:




D F Gauld - Director



T Burgess - Director


Suffolk Properties Limited (Registered number: 09764404)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Suffolk 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental property income attributable in the period.

Any rents received in advance are deferred to the future period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Suffolk Properties Limited (Registered number: 09764404)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Investment properties
Investment properties are shown at current valuations. The valuations have been conducted by the directors at the balance sheet date. They are considered to have sufficient expertise to value these assets and provide a true and fair view. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Freehold
property
£   
COST OR VALUATION
At 1 May 2023 550,000
Revaluations (50,000 )
At 30 April 2024 500,000
NET BOOK VALUE
At 30 April 2024 500,000
At 30 April 2023 550,000

Suffolk Properties Limited (Registered number: 09764404)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 April 2024 is represented by:

Freehold Leasehold
property property Totals
£    £    £   
Valuation in 2024 (50,000 ) - (50,000 )
Valuation in 2023 65,000 (195,000 ) (130,000 )
Valuation in 2021 (15,000 ) 5,000 (10,000 )
Valuation in 2020 35,000 (5,000 ) 30,000
Valuation in 2019 - (30,000 ) (30,000 )
Valuation in 2018 56,691 - 56,691
Valuation in 2017 96,213 16,790 113,003
Cost 312,096 208,210 520,306
500,000 - 500,000

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 312,096 520,306

Fixed asset investments were valued on an open market basis on 22 July 2024 by the directors of the company .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 847 368

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 3,557 3,966
Other creditors 450,902 452,042
454,459 456,008

Included in Other creditors is an inter company loan balance of £449,252 (2023: £450,454) which is owed to the parent company, Suffolk Trade Centre Limited. Interest has not been charged.

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 45,107 43,781

Suffolk Properties Limited (Registered number: 09764404)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 43,781
Provided during year 1,326
Balance at 30 April 2024 45,107

8. CALLED UP SHARE CAPITAL

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

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023 194,123
Property revaluations (51,326 )

At 30 April 2024 142,797

The reserves in respect of investment property revaluations are non distributable.

10. ULTIMATE PARENT COMPANY

Suffolk Trade Centre Limited is the company's ultimate parent company.