Company registration number 13613113 (England and Wales)
SK PROPERTYCO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
SK PROPERTYCO LTD
COMPANY INFORMATION
Director
Miss S Kaur
Company number
13613113
Registered office
The Stables
Astwood Lane
Hanbury
Bromsgrove
B60 4BP
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
Colmore Row
PO Box 1000
Birmingham
West Midlands
BX1 1LT
SK PROPERTYCO LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
SK PROPERTYCO LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SK PROPERTYCO LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SK PropertyCo Ltd for the year ended 30 June 2024 which comprise, the balance sheet 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of SK PropertyCo Ltd, 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 SK PropertyCo Ltd and state those matters that we have agreed to state to the board of directors of SK PropertyCo Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SK PropertyCo Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that SK PropertyCo Ltd 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 SK PropertyCo Ltd. You consider that SK PropertyCo Ltd 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 SK PropertyCo Ltd. 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.

Ormerod Rutter Limited
16 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SK PROPERTYCO LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
149,279
149,279
Current assets
Debtors
4
285
331
Cash at bank and in hand
8,609
7,467
8,894
7,798
Creditors: amounts falling due within one year
5
(71,909)
(71,218)
Net current liabilities
(63,015)
(63,420)
Total assets less current liabilities
86,264
85,859
Creditors: amounts falling due after more than one year
6
(85,800)
(85,800)
Net assets
464
59
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
364
(41)
Total equity
464
59

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 16 September 2024
Miss S Kaur
Director
Company registration number 13613113 (England and Wales)
SK PROPERTYCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

SK PropertyCo Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Stables, Astwood Lane, Hanbury, Bromsgrove, B60 4BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.4
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

SK PROPERTYCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
149,279

The director has assessed the market value of the property and considers that there has been no significant change in the market value at the period end.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
285
269
Deferred tax asset
-
0
62
285
331
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
86
-
0
Other creditors
71,823
71,218
71,909
71,218
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
85,800
85,800
SK PROPERTYCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
85,800
85,800
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
9
Ultimate controlling party

The ultimate controlling party is Miss S Kaur.

2024-06-302023-07-01false16 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMiss S Kaurfalsefalse136131132023-07-012024-06-3013613113bus:Director12023-07-012024-06-3013613113bus:RegisteredOffice2023-07-012024-06-3013613113bus:Agent12023-07-012024-06-30136131132024-06-30136131132023-06-3013613113core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3013613113core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3013613113core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3013613113core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3013613113core:CurrentFinancialInstruments2024-06-3013613113core:CurrentFinancialInstruments2023-06-3013613113core:ShareCapital2024-06-3013613113core:ShareCapital2023-06-3013613113core:RetainedEarningsAccumulatedLosses2024-06-3013613113core:RetainedEarningsAccumulatedLosses2023-06-30136131132022-07-012023-06-30136131132023-06-3013613113core:WithinOneYear2024-06-3013613113core:WithinOneYear2023-06-3013613113core:Non-currentFinancialInstruments2024-06-3013613113core:Non-currentFinancialInstruments2023-06-3013613113bus:PrivateLimitedCompanyLtd2023-07-012024-06-3013613113bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3013613113bus:FRS1022023-07-012024-06-3013613113bus:AuditExemptWithAccountantsReport2023-07-012024-06-3013613113bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP