Registered number
13094866
Seeneen Properties Ltd
Filleted Accounts
31 March 2024
Seeneen Properties Ltd
Registered number: 13094866
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 1,088,023 990,523
Current assets
Debtors 4 - 810
Cash at bank and in hand 10,785 14,521
10,785 15,331
Creditors: amounts falling due within one year 5 (351) -
Net current assets 10,434 15,331
Total assets less current liabilities 1,098,457 1,005,854
Creditors: amounts falling due after more than one year 6 (1,009,782) (1,016,176)
Net assets/(liabilities) 88,675 (10,322)
Capital and reserves
Called up share capital 20 20
Revaluation reserve 7 97,500 -
Profit and loss account (8,845) (10,342)
Shareholders' funds 88,675 (10,322)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shoaib Arshad
Director
Approved by the board on 30 December 2024
Seeneen Properties Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the letting of properties and rendering of other services.
Investments
Investment are held under properties to earn rentals or for capital appreciation. They are measured at fair value at the balance sheet date. The fair value is determined by the directors based on market evidence, external valuations (where applicable), or other appropriate methods. Changes in the fair value of investment properties are recognised in the profit and loss account for the year in which they arise, in accordance with FRS 102 Section 16.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 April 2023 990,523
Revaluation 97,500
At 31 March 2024 1,088,023
Investments are in the properties for letting purposes that are valued on the balance sheet date by the directors of the company in compared with the changes in market values. Only material change to the investment property is reported in the accounts.
4 Debtors 2024 2023
£ £
Other debtors - 810
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 351 -
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 665,323 665,323
Other creditors 344,459 350,853
1,009,782 1,016,176
7 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 97,500 -
At 31 March 2024 97,500 -
8 Other information
Seeneen Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD
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