Registered number
14662896
SSS PROPERTY LTD
Filleted Accounts
28 February 2024
SSS PROPERTY LTD
Registered number: 14662896
Balance Sheet
as at 28 February 2024
Notes 2024
£
Fixed assets
Tangible assets 3 129,960
Current assets
Cash at bank and in hand 1,742
Creditors: amounts falling due within one year 4 (984)
Net current assets 758
Total assets less current liabilities 130,718
Creditors: amounts falling due after more than one year 5 (135,662)
Net liabilities (4,944)
Capital and reserves
Called up share capital 3
Revaluation reserve 6 15,000
Profit and loss account (19,947)
Shareholders' funds (4,944)
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.
Mr S Ramachandran
Director
Approved by the board on 11 November 2024
SSS PROPERTY LTD
Notes to the Accounts
for the period from 14 February 2023 to 28 February 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 over 50 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 117,520
Surplus on revaluation 15,000
At 28 February 2024 132,520
Depreciation
Charge for the period 2,560
At 28 February 2024 2,560
Net book value
At 28 February 2024 129,960
4 Creditors: amounts falling due within one year 2024
£
Other creditors 984
5 Creditors: amounts falling due after one year 2024
£
Bank loans 83,235
Other creditors 52,427
135,662
6 Revaluation reserve 2024
£
Gain on revaluation of land and buildings 15,000
At 28 February 2024 15,000
7 Transactions with the directors
The amount of £52,427.00 is owed to the directors of the company
8 Other information
SSS PROPERTY LTD is a private company limited by shares and incorporated in England. Its registered office is:
404 Lewisham High Street
London
SE13 6LJ
SSS PROPERTY LTD 14662896 false 2023-02-14 2024-02-28 2024-02-28 VT Final Accounts July 2024 Mr S Ramachandran No description of principal activity 14662896 2023-02-14 2024-02-28 14662896 bus:PrivateLimitedCompanyLtd 2023-02-14 2024-02-28 14662896 bus:AuditExemptWithAccountantsReport 2023-02-14 2024-02-28 14662896 bus:Director40 2023-02-14 2024-02-28 14662896 1 2023-02-14 2024-02-28 14662896 2 2023-02-14 2024-02-28 14662896 core:RevaluationReserve core:LandBuildings 2023-02-14 2024-02-28 14662896 countries:England 2023-02-14 2024-02-28 14662896 bus:FRS102 2023-02-14 2024-02-28 14662896 bus:FilletedAccounts 2023-02-14 2024-02-28 14662896 2024-02-28 14662896 core:WithinOneYear 2024-02-28 14662896 core:AfterOneYear 2024-02-28 14662896 core:ShareCapital 2024-02-28 14662896 core:OtherReservesSubtotal 2024-02-28 14662896 core:RetainedEarningsAccumulatedLosses 2024-02-28 14662896 core:RevaluationReserve 2024-02-28 14662896 2023-02-13 iso4217:GBP xbrli:pure