Company No:
Contents
DIRECTORS | Mr P Curtis |
Mr H C Savile | |
The 8th Earl of Mexborough | |
Hon Mrs Z L Savile | |
Mr P Stuchlik |
REGISTERED OFFICE | 54 Beauchamp Place |
London | |
SW3 1NY | |
United Kingdom |
COMPANY NUMBER | 00099256 (England and Wales) |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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1,591,601 | 1,286,276 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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8,307,911 | 8,109,911 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 8,214,155 | 8,025,714 | ||
Total assets less current liabilities | 9,805,756 | 9,311,990 | ||
Provision for liabilities | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Sifton Praed and Company Limited (registered number:
Mr P Stuchlik
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Sifton Praed and Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 54 Beauchamp Place, London, SW3 1NY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment property and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Leasehold improvements |
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Fixtures and fittings |
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Other property, plant and equipment |
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The company as lessor
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
The company operates a defined contribution pension scheme for directors. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year, including directors |
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Leasehold improve- ments |
Fixtures and fittings | Other property, plant and equipment |
Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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Investment property | |
£ | |
Valuation | |
As at 01 April 2023 |
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Fair value movement | 300,000 |
As at 31 March 2024 |
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Valuation
The investment property was re-valued at 31 March 2024 by the directors on an open market basis. The historical cost is £826,777 (2023 - £826,777).
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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Charged to the Profit and Loss Account | (
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At the end of financial year | (
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Total of future minimum lease payments is as follows:
2024 | 2023 | ||
£ | £ | ||
Not later than one year | 65,750 | 55,750 |