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REGISTERED NUMBER: 03042373 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SDB PROPERTIES LIMITED

SDB PROPERTIES LIMITED (REGISTERED NUMBER: 03042373)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SDB PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P Baily
J Martin





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 03042373 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SDB PROPERTIES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SDB Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SDB Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SDB Properties Limited and state those matters that we have agreed to state to the Board of Directors of SDB Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SDB Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SDB Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SDB Properties Limited. You consider that SDB Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SDB Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


21 October 2024

SDB PROPERTIES LIMITED (REGISTERED NUMBER: 03042373)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £ £ £ £
FIXED ASSETS
Investment property 4 3,000,000 3,100,000

CURRENT ASSETS
Cash at bank 12,512 23,222

CREDITORS
Amounts falling due within one year 5 33,270 73,878
NET CURRENT LIABILITIES (20,758 ) (50,656 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,979,242

3,049,344

PROVISIONS FOR LIABILITIES 6 355,881 433,526
NET ASSETS 2,623,361 2,615,818

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 2,623,061 2,615,518
SHAREHOLDERS' FUNDS 2,623,361 2,615,818

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.

SDB PROPERTIES LIMITED (REGISTERED NUMBER: 03042373)

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.

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 18 October 2024 and were signed on its behalf by:




J Martin - Director



P Baily - Director


SDB PROPERTIES LIMITED (REGISTERED NUMBER: 03042373)

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


1. STATUTORY INFORMATION

SDB 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income received from properties held for investment purposes.

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.

Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value 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.

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.

Fixed asset investments
Equity investments are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs, where the investment is subsequently measured at fair value through profit and loss). Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available. If a reliable measure of fair value is no longer available, the equity instrument's fair value on the last date the instrument was reliably measurable is treated as the cost of the instrument.

3. EMPLOYEES AND DIRECTORS

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

SDB PROPERTIES LIMITED (REGISTERED NUMBER: 03042373)

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


4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 3,100,000
Revaluations (100,000 )
At 31 March 2024 3,000,000
NET BOOK VALUE
At 31 March 2024 3,000,000
At 31 March 2023 3,100,000

Fair value at 31 March 2024 is represented by:
£
Valuation in 2010 1,512,737
Valuation in 2014 145,000
Valuation in 2015 27,500
Valuation in 2016 27,500
Valuation in 2017 140,000
Valuation in 2018 410,000
Valuation in 2019 150,000
Valuation in 2022 100,000
Valuation in 2023 100,000
Valuation in 2024 (100,000 )
Cost 487,263
3,000,000

The valuation for year ending 31 March 2024 was updated by the directors to the balance sheet date based their knowledge of the local property and rental markets.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Tax 7,013 14,620
Shareholder loan Mr P Baily 7,873 18,873
Shareholder loan Mrs P Baily 7,873 18,873
Shareholder loan Mrs T Baily 7,873 18,873
Accrued expenses 2,638 2,639
33,270 73,878

6. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£ £
Deferred tax 355,881 433,526

SDB PROPERTIES LIMITED (REGISTERED NUMBER: 03042373)

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


6. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 April 2023 433,526
Provided during year (77,645 )
Balance at 31 March 2024 355,881

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors due less than one year is £7,873(2023: £18,873) payable to Mr P Baily a director of the company. The balance is interest free and repayable on demand.

8. RELATED PARTY DISCLOSURES

Included within creditors due within one year is £23,619 (2023: £56,619) owed to the shareholders.

Included within creditors due within one year is Nil. This balance has been distributed to shareholders as part of the termination of Lady Sarah Baily Will trust deed dated 30th March 2023.

9. ULTIMATE CONTROLLING PARTY

Mr P Baily, Miss P Baily and Mrs T Baily are the ultimate controlling party, as they hold all the issued share capital.