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COMPANY REGISTRATION NUMBER: 07647398
Suncroft Developments Limited
Filleted Financial Statements
31 May 2024
Suncroft Developments Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
3,547,180
3,611,961
Cash at bank and in hand
474,197
407,655
------------
------------
4,021,377
4,019,616
Creditors: amounts falling due within one year
5
21,376
19,615
------------
------------
Net current assets
4,000,001
4,000,001
------------
------------
Total assets less current liabilities
4,000,001
4,000,001
Creditors: amounts falling due after more than one year
6
4,000,000
4,000,000
------------
------------
Net assets
1
1
------------
------------
Capital and reserves
Called up share capital
1
1
----
----
Shareholders funds
1
1
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 3 December 2024 , and are signed on behalf of the board by:
Mrs D. Feldman
Director
Company registration number: 07647398
Suncroft Developments Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 ODH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents fees receivable for the year.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,547,170
3,611,951
Other debtors
10
10
------------
------------
3,547,180
3,611,961
------------
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to related undertakings
120
120
Other creditors
21,256
19,495
--------
--------
21,376
19,615
--------
--------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,000,000
4,000,000
------------
------------
7. Summary audit opinion
The auditor's report dated 3 December 2024 was unqualified .
The senior statutory auditor was P Smulovitch , for and on behalf of GK & Co. LLP .
8. Related party transactions
Loan account balances with related companies are disclosed separately in the notes to the accounts.