Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31120797412079742023-04-01falseProperty investment22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11866608 2023-04-01 2024-03-31 11866608 2022-04-01 2023-03-31 11866608 2024-03-31 11866608 2023-03-31 11866608 c:Director1 2023-04-01 2024-03-31 11866608 d:FreeholdInvestmentProperty 2024-03-31 11866608 d:FreeholdInvestmentProperty 2023-03-31 11866608 d:LeaseholdInvestmentProperty 2024-03-31 11866608 d:LeaseholdInvestmentProperty 2023-03-31 11866608 d:CurrentFinancialInstruments 2024-03-31 11866608 d:CurrentFinancialInstruments 2023-03-31 11866608 d:Non-currentFinancialInstruments 2024-03-31 11866608 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11866608 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11866608 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11866608 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11866608 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11866608 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11866608 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11866608 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11866608 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 11866608 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 11866608 d:ShareCapital 2024-03-31 11866608 d:ShareCapital 2023-03-31 11866608 d:RetainedEarningsAccumulatedLosses 2024-03-31 11866608 d:RetainedEarningsAccumulatedLosses 2023-03-31 11866608 c:FRS102 2023-04-01 2024-03-31 11866608 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11866608 c:FullAccounts 2023-04-01 2024-03-31 11866608 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11866608 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 11866608






SF11 PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










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SF11 PROPERTIES LIMITED
REGISTERED NUMBER:11866608

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
603,987
603,987

  
603,987
603,987

Current assets
  

Debtors: amounts falling due within one year
 5 
2,244
2,244

Cash at bank and in hand
 6 
14,190
9,588

  
16,434
11,832

Creditors: amounts falling due within one year
 7 
(172,947)
(172,261)

Net current liabilities
  
 
 
(156,513)
 
 
(160,429)

Total assets less current liabilities
  
447,474
443,558

Creditors: amounts falling due after more than one year
 8 
(440,501)
(441,704)

  

Net assets
  
6,973
1,854


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
6,873
1,754

  
6,973
1,854


Page 1

 
SF11 PROPERTIES LIMITED
REGISTERED NUMBER:11866608
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Griffiths
Director

Date: 18 October 2024

Page 2

 
SF11 PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

SF11 Properties Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SF11 PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 4

 
SF11 PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 April 2023
472,227
131,760
603,987



At 31 March 2024
472,227
131,760
603,987

The 2024 valuations were made by C Griffiths, a director of the company, on an open market value for existing use basis.




Page 5

 
SF11 PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
2,244
2,244

2,244
2,244



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,190
9,588

14,190
9,588



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,203
1,172

Trade creditors
133
133

Corporation tax
1,201
796

Other creditors
168,982
168,774

Accruals and deferred income
1,428
1,386

172,947
172,261


Page 6

 
SF11 PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
440,501

440,501


The following liabilities were secured:

2024
£


Mortgages
440,501

440,501

Details of security provided:

The loans are secured by fixed charges over the assets of the company.

Page 7

 
SF11 PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
1,203
1,172


1,203
1,172

Amounts falling due 1-2 years

Bank loans
1,233
1,203


1,233
1,203

Amounts falling due 2-5 years

Bank loans
1,158
2,391


1,158
2,391

Amounts falling due after more than 5 years

Bank loans
438,111
438,111

441,705
442,877


 
Page 8