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REGISTERED NUMBER: 00487645 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Senior Properties Limited

Senior Properties Limited (Registered number: 00487645)






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


Senior Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr M J Senior
Mrs E A Senior



SECRETARY: Mrs E A Senior



REGISTERED OFFICE: Denshaw House
Huddersfield Road
Denshaw
Nr Oldham
Greater Manchester
OL3 5SB



REGISTERED NUMBER: 00487645 (England and Wales)



ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR



BANKERS: HSBC Bank plc
109 Union Street
Oldham
Lancashire
OL1 1RT

Senior Properties Limited (Registered number: 00487645)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 5 302,300 363,000

CURRENT ASSETS
Debtors 6 133,339 119,287
Investments 7 300,000 300,000
Cash at bank 227,362 191,518
660,701 610,805
CREDITORS
Amounts falling due within one year 8 (11,403 ) (14,490 )
NET CURRENT ASSETS 649,298 596,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

951,598

959,315

CAPITAL AND RESERVES
Called up share capital 9 200 200
Revaluation reserve 10 200,680 260,630
Retained earnings 750,718 698,485
SHAREHOLDERS' FUNDS 951,598 959,315

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 directors acknowledge their 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.

Senior Properties Limited (Registered number: 00487645)

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mr M J Senior - Director


Senior Properties Limited (Registered number: 00487645)

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

1. STATUTORY INFORMATION

Senior 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.

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 PREPARING THE FINANCIAL STATEMENTS
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 income from investment properties and is attributable to the one principal activity of the company.

INVESTMENT
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

FINANCIAL INSTRUMENTS
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


Senior Properties Limited (Registered number: 00487645)

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

3. ACCOUNTING POLICIES - continued
INCOME TAX
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from the
synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Senior Properties Limited (Registered number: 00487645)

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

3. ACCOUNTING POLICIES - continued

DEFINED CONTRIBUTION PLANS
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 363,000
Disposals (55,000 )
Revaluations (5,700 )
At 31 March 2024 302,300
NET BOOK VALUE
At 31 March 2024 302,300
At 31 March 2023 363,000

The company's long leasehold investment properties was revalued in September 2024 by Sedgwick & Co. Property Consultants, on the basis of open market value for existing use.

Fair value at 31 March 2024 is represented by :

£
Cost 101,620
Valuation 200,680
302,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 75,000 75,130
Other debtors 58,339 44,157
133,339 119,287

Senior Properties Limited (Registered number: 00487645)

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

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other investments 250,000 250,000
Short-term deposits 50,000 50,000
300,000 300,000

£250,000 was invested in Seneca Securities 2 Ltd Loan Notes on April 1, 2014. On March 31, 2018 this amount was re-invested with Seneca in a business park investment at a rate of 7.5%. A further similar investment of £50,000 was made at a rate of 7.15%.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 6,279 6,394
Other creditors 5,124 8,096
11,403 14,490

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary shares £1 200 200

10. RESERVES


Revaluation
Reserve
£
At 1 April 2023260,630
Revaluation on assets-investment property(5,700)
Reversal of reserve on sale ofinvestment property(54,250)
At 31 March 2024200,680

Senior Properties Limited (Registered number: 00487645)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:
2024

Balance brought
forward
Advances/(credits)
to the directors
Balance
outstanding
£ £ £
M. J. Senior---
E. A. Senior---
---
2023

Balance brought
forward
Advances/(credits)
to the directors
Balance
outstanding
£ £ £
M. J. Senior(13,076)13,076-
E. A. Senior(12,000)12,000-
(25,076)25,076-