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REGISTERED NUMBER: 08329933 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SUNBEAM PROPERTY SUBSIDIARY LIMITED

SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUNBEAM PROPERTY SUBSIDIARY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: T J Archard





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





REGISTERED NUMBER: 08329933 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 876 1,420
Investment property 5 570,000 550,000
570,876 551,420

CURRENT ASSETS
Debtors 6 64,596 49,855
Cash at bank 1 -
64,597 49,855
CREDITORS
Amounts falling due within one year 7 116,502 100,067
NET CURRENT LIABILITIES (51,905 ) (50,212 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

518,971

501,208

PROVISIONS FOR LIABILITIES 8 40,105 35,409
NET ASSETS 478,866 465,799

CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium 283,683 283,683
Fair value reserve 159,249 144,049
Retained earnings 35,933 38,066
SHAREHOLDERS' FUNDS 478,866 465,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

BALANCE SHEET - continued
29 FEBRUARY 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 25 November 2024 and were signed by:





T J Archard - Director


SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Sunbeam Property Subsidiary 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 (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. At the year end the company had net current liabilities of £51,905 (2023: £50,212). The director has confirmed amounts due to the connected company will not be paid to the detriment of other creditors and he has indicated his willingness and ability to support the company for at least 12 months from the date of approving the financial statements.

On the basis of the continued support of the director is forthcoming the director is satisfied that the going concern basis of preparing the financial statements is appropriate.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue represents amounts receivable for rents from the letting of investment properties.

Revenue is recognised in the accounting period to which the rental demands cover.

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.

SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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 March 2023
and 29 February 2024 1,649
DEPRECIATION
At 1 March 2023 229
Charge for year 544
At 29 February 2024 773
NET BOOK VALUE
At 29 February 2024 876
At 28 February 2023 1,420

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 550,000
Revaluations 20,000
At 29 February 2024 570,000
NET BOOK VALUE
At 29 February 2024 570,000
At 28 February 2023 550,000

SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2015 85,000
Valuation in 2016 45,000
Valuation in 2017 (50,000 )
Valuation in 2018 (812 )
Valuation in 2020 60,000
Valuation in 2021 40,000
Valuation in 2024 20,000
Cost 370,812
570,000

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

2024 2023
£    £   
Cost 370,812 370,812

The investment properties were valued on an open market basis on 29 February 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,173 -
Other debtors 57,423 49,855
64,596 49,855

Included in other debtors is an amount due from a connected company of £1,235.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 628
Amounts owed to group undertakings 5,849 61
Taxation and social security 3,624 2,613
Other creditors 107,029 96,765
116,502 100,067

Included in other creditors is an amount due to a connected company of £42,558 (2023: £42,558).

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 40,105 35,409

SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 35,409
Charge to Income Statement during year 4,696
Balance at 29 February 2024 40,105

9. CALLED UP SHARE CAPITAL

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

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
T J Archard
Balance outstanding at start of year 37,702 36,498
Amounts advanced 16,752 1,204
Amounts repaid (9,485 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,969 37,702

11. ULTIMATE PARENT COMPANY

Sunbeam Property Limited is regarded by the director as being the company's ultimate parent company. Registered office and principal place of business: Pavilion View, 19 New Road, Brighton, East Sussex, BN1 1EY.