Company Registration No. 14665347 (England and Wales)
Saturn V Properties Ltd
Unaudited accounts
for the period from 15 February 2023 to 29 February 2024
Saturn V Properties Ltd
Unaudited accounts
Contents
Saturn V Properties Ltd
Company Information
for the period from 15 February 2023 to 29 February 2024
Directors
Joseph Stocks
Alicia Smith
Company Number
14665347 (England and Wales)
Registered Office
2 Ruscar Close
Liverpool
Merseyside
L26 7ZG
England
Saturn V Properties Ltd
Statement of financial position
as at 29 February 2024
Investment property
227,500
Creditors: amounts falling due within one year
(115,704)
Net current liabilities
(115,704)
Total assets less current liabilities
111,796
Creditors: amounts falling due after more than one year
(124,583)
Profit and loss account
(12,789)
Shareholders' funds
(12,787)
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by
Joseph Stocks
Director
Company Registration No. 14665347
Saturn V Properties Ltd
Notes to the Accounts
for the period from 15 February 2023 to 29 February 2024
Saturn V Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 14665347. The registered office is 2 Ruscar Close, Liverpool, Merseyside, L26 7ZG, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is initially recognised at cost and then subsequently measured at market fair value. changes in value are recognised in profit and loss.
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.
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.
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 liming 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.
Saturn V Properties Ltd
Notes to the Accounts
for the period from 15 February 2023 to 29 February 2024
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, ii is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
At 29 February 2024
227,500
The cost of the investment property has been arrived at on the basis of a valuation carried out by The Mortgage Works (UK) plc, Nationwide House, Pipers Way, Swindon, SN38 1NW. The director confirmed there have been no changes in value as at 29 February 2024.
5
Creditors: amounts falling due within one year
2024
Loans from directors
115,704
6
Creditors: amounts falling due after more than one year
2024
7
Average number of employees
During the period the average number of employees was 0.