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REGISTERED NUMBER: 10043843 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

SBF Properties Limited

SBF Properties Limited (Registered number: 10043843)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

SBF Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: LA Fulford





REGISTERED OFFICE: 24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ





REGISTERED NUMBER: 10043843 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

SBF Properties Limited (Registered number: 10043843)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42 82
Investment property 5 583,000 583,000
583,042 583,082

CURRENT ASSETS
Cash at bank 389,799 381,298

CREDITORS
Amounts falling due within one year 6 349,609 341,419
NET CURRENT ASSETS 40,190 39,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

623,232

622,961

CREDITORS
Amounts falling due after more than one
year

7

(504,163

)

(504,431

)

PROVISIONS FOR LIABILITIES (31,299 ) (33,750 )
NET ASSETS 87,770 84,780

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 91,404 91,404
Retained earnings (3,635 ) (6,625 )
SHAREHOLDERS' FUNDS 87,770 84,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SBF Properties Limited (Registered number: 10043843)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





LA Fulford - Director


SBF Properties Limited (Registered number: 10043843)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

SBF Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.

Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

SBF Properties Limited (Registered number: 10043843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
The Director provides support for the company in the form of director loans. The Director considers that it is appropriate to prepare the financial statements on a going concern basis as he expects the company to continue to trade within the facilities made available.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 123
DEPRECIATION
At 1 April 2023 41
Charge for year 40
At 31 March 2024 81
NET BOOK VALUE
At 31 March 2024 42
At 31 March 2023 82

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 583,000
NET BOOK VALUE
At 31 March 2024 583,000
At 31 March 2023 583,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 80,154
Valuation in 2022 45,000
Valuation in 2023 457,846
583,000

SBF Properties Limited (Registered number: 10043843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

If following historical cost had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 457,846 457,846

investment property was valued on an open market value basis on 31 March 2023 by the directors. .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 308 (325 )
Taxation and social security 2,012 4,756
Other creditors 347,289 336,988
349,609 341,419

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 504,163 504,431

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 504,163 504,331

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 504,163 504,431

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 91,404

SBF Properties Limited (Registered number: 10043843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £338,210 (2023: £344,083) to the director.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is LA Fulford.

SBF Properties Limited

Report of the Accountants to the Director of
SBF Properties Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


Date: .............................................