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COMPANY REGISTRATION NUMBER: 02726740
Securehold Properties Limited
Filleted Unaudited Financial Statements
Year ended
31 January 2024
Securehold Properties Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Securehold Properties Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
954,930
675,094
Investments
6
1,500
1,500
---------
---------
956,430
676,594
Current assets
Stocks
688,125
688,125
Debtors
7
14,396
14,867
Cash at bank and in hand
88,971
82,078
---------
---------
791,492
785,070
Creditors: amounts falling due within one year
8
497,898
501,290
---------
---------
Net current assets
293,594
283,780
------------
---------
Total assets less current liabilities
1,250,024
960,374
Provisions
Taxation including deferred tax
177
208
------------
---------
Net assets
1,249,847
960,166
------------
---------
Securehold Properties Limited
Statement of Financial Position (continued)
31 January 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
9
124
124
Share premium account
35,976
35,976
Revaluation reserve
280,000
Profit and loss account
933,747
924,066
------------
---------
Shareholders funds
1,249,847
960,166
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 October 2024 , and are signed on behalf of the board by:
R A E Styler
Director
Company registration number: 02726740
Securehold Properties Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Manor Farm House, Lenchwick, Nr. Evesham, Worcestershire, WR11 4TG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rent and recharges for electricity, gas, water rates, service charges and insurance. Where a payment is received in advance of the services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and equipment
-
15% reducing balance
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stock includes the purchase price of disused listed barns which the company plans to develop into a residence for resale. Also included in cost are professional fees relating to this project.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Investment property
Fixtures and equipment
Total
£
£
£
Valuation/Cost
At 1 February 2023
674,000
7,456
681,456
Revaluations
280,000
280,000
---------
-------
---------
At 31 January 2024
954,000
7,456
961,456
---------
-------
---------
Depreciation
At 1 February 2023
6,362
6,362
Charge for the year
164
164
---------
-------
---------
At 31 January 2024
6,526
6,526
---------
-------
---------
Carrying amount
At 31 January 2024
954,000
930
954,930
---------
-------
---------
At 31 January 2023
674,000
1,094
675,094
---------
-------
---------
Investment property has been valued at the balance sheet dates by the directors. The historical cost of investment property is £652,906 (2023 - £652,906).
6. Investments
Other investments other than loans
£
Cost
At 1 February 2023 and 31 January 2024
7,000
-------
Impairment
At 1 February 2023 and 31 January 2024
5,500
-------
Carrying amount
At 31 January 2024
1,500
-------
At 31 January 2023
1,500
-------
7. Debtors
2024
2023
£
£
Trade debtors
13,026
13,238
Other debtors
1,370
1,629
--------
--------
14,396
14,867
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,078
6,822
Amounts owed to group undertakings and undertakings in which the company has a participating interest
404,365
404,365
Social security and other taxes
2,905
1,412
Wages control account
1,360
Other creditors
82,190
88,691
---------
---------
497,898
501,290
---------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
124
124
124
124
----
----
----
----
10. Related party transactions
During the year the company was charged £19,500 (2023 - £19,000) for consultancy by a business owned by a director. Included in creditors is £404,365 (2023 - £404,365) owed to the parent undertaking.