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SSO Property Management Limited

Financial Statements for the Year Ended 29 February 2024






SSO Property Management Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: C J Mawer
S Mawer





REGISTERED OFFICE: Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA





REGISTERED NUMBER: 11230927 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
SSO Property Management Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SSO Property Management Limited for the year ended 29 February 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SSO Property Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SSO Property Management Limited and state those matters that we have agreed to state to the Board of Directors of SSO Property Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SSO Property Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SSO Property Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SSO Property Management Limited. You consider that SSO Property Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SSO Property Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


28 November 2024

SSO Property Management Limited (Registered number: 11230927)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,361 3,786
Investment property 4 208,234 208,234
211,595 212,020

CURRENT ASSETS
Debtors 5 1,289 276
Cash at bank 10,008 21,013
11,297 21,289
CREDITORS
Amounts falling due within one year 6 4,752 7,657
NET CURRENT ASSETS 6,545 13,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,140

225,652

CREDITORS
Amounts falling due after more than
one year

7

185,970

190,570
NET ASSETS 32,170 35,082

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 32,070 34,982
SHAREHOLDERS' FUNDS 32,170 35,082

SSO Property Management Limited (Registered number: 11230927)

Balance Sheet - continued
29 February 2024


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 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.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





C J Mawer - Director


SSO Property Management Limited (Registered number: 11230927)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of rental income received or receivable.

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 - 20% straight line

Investment property
In accordance with FRS 102, the property, being held for investment purposes, is measured at fair value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

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

SSO Property Management Limited (Registered number: 11230927)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023 4,921
Additions 599
At 29 February 2024 5,520
DEPRECIATION
At 1 March 2023 1,135
Charge for year 1,024
At 29 February 2024 2,159
NET BOOK VALUE
At 29 February 2024 3,361
At 28 February 2023 3,786

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 208,234
NET BOOK VALUE
At 29 February 2024 208,234
At 28 February 2023 208,234

The properties have been reassessed at an open market value at 29 February 2024 by the directors with the assistance of their professional property advisers.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors & prepayments 1,289 276

SSO Property Management Limited (Registered number: 11230927)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxes & social security costs - 1,594
Other creditors & accruals 4,752 6,063
4,752 7,657

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other creditors 185,970 190,570