REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SUPREME PROPERTIES 369 LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SUPREME PROPERTIES 369 LTD |
SUPREME PROPERTIES 369 LTD (REGISTERED NUMBER: 13357907) |
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 |
SUPREME PROPERTIES 369 LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
29 Gildredge Road |
Eastbourne |
East Sussex |
BN21 4RU |
SUPREME PROPERTIES 369 LTD (REGISTERED NUMBER: 13357907) |
ABRIDGED BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 | ( |
) |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
SUPREME PROPERTIES 369 LTD (REGISTERED NUMBER: 13357907) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
SUPREME PROPERTIES 369 LTD (REGISTERED NUMBER: 13357907) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Supreme Properties 369 Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income receivable together with related service charge income. |
Tangible fixed assets |
Furniture,fittings & equipment | - |
Computer equipment | - |
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. |
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 |
SUPREME PROPERTIES 369 LTD (REGISTERED NUMBER: 13357907) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | (112,800 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The investment properties were revalued by the company directors on an open market basis. These revaluations have been realised at the balance sheet date. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2022 | 980,000 |
Valuation in 2023 | 405,800 |
Valuation in 2024 | (112,800 | ) |
1,273,000 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2024 | 2023 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
SUPREME PROPERTIES 369 LTD (REGISTERED NUMBER: 13357907) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The debts are secured by means of legal and general charges. |
8. | DEFERRED TAX |
£ |
Balance at 1 April 2023 | ( |
) |
Provided during year | ( |
) |
Balance at 31 March 2024 | ( |
) |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 |
Reserve transfer | (85,025 | ) |
At 31 March 2024 | ( |
) |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest of £319 was charged at the official rate. This loan was repaid in full by 31 December 2024. |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company owed £Nil (2023 : £325,950) to Supreme Care Wales Ltd, a company owned and controlled by the same shareholders and directors. No interest was charged on this amount. This loan was written off in 2024. |
At the balance sheet date the company owed £193,682 (2023 : £178,682) to Supreme Care UK Ltd, a company owned and controlled by the same shareholders and directors. No interest was charged on this amount. This amount is repayable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
Mr & Mrs Nathan, the company directors, are the ultimate controlling party. |