Registered number
13856283
SKHB Property Limited
Filleted Accounts
31 January 2024
SKHB Property Limited
Registered number: 13856283
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 441,026 171,151
Current assets
Cash at bank and in hand 8,770 31,284
Creditors: amounts falling due within one year 4 (124,690) (93,005)
Net current liabilities (115,920) (61,721)
Total assets less current liabilities 325,106 109,430
Creditors: amounts falling due after more than one year 5 (320,245) (110,980)
Provisions for liabilities (11) -
Net assets/(liabilities) 4,850 (1,550)
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,848 (1,552)
Shareholders' funds 4,850 (1,550)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Cooke
Director
Approved by the board on 30 October 2024
SKHB Property Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable from rental properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not provided
Equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Land and buildings Equipment Total
£ £ £
Cost
At 1 February 2023 171,151 - 171,151
Additions 269,817 72 269,889
At 31 January 2024 440,968 72 441,040
Depreciation
Charge for the year - 14 14
At 31 January 2024 - 14 14
Net book value
At 31 January 2024 440,968 58 441,026
At 31 January 2023 171,151 - 171,151
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,399 -
Other creditors including directors' loan accounts 123,291 93,005
124,690 93,005
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 320,245 110,980
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 320,245 110,980
The bank loans are secured on the property to which the loans were provided for.
7 Other information
SKHB Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Ludlow Drive
Sunderland
Tyne and Wear
SR2 9HH
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