Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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12,503 | 12,503 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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684,246 | 635,748 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 533,192 | 569,758 | ||
Total assets less current liabilities | 545,695 | 582,261 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of SAR Property Consultancy Limited (registered number:
S A Reynolds
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.
SAR Property Consultancy 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 Laurels Farm Mill Road, Barton St David, Somerton, TA11 6DF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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2024 | 2023 | ||
£ | £ | ||
Subsidiary undertakings |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 March 2023 |
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At 29 February 2024 |
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Carrying value at 29 February 2024 |
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Carrying value at 28 February 2023 |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Amounts owed to Group undertakings |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
Advances
At 1 March 2023, the balance owed by the director was £nil. During the year, £161,893 was advanced to the director, and £141,393 was repaid by the director. The balance owed by the director at 28 February 2024 was £20,500.
At 1 March 2022, the balance owed by the director was £140,000. During the year, £nil was advanced to the director, and £140,000 was repaid by the director. The balance owed by the director at 28 February 2023 was £nil.