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SOPHO PROPERTIES LIMITED

Registered Number
08065794
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

SOPHO PROPERTIES LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Anthony Paul Sophoclides
Michael Christopher Sophoclides

Registered Address

2nd Floor 10-12 Bourlet Close
London
W1W 7BR

Registered Number

08065794 (England and Wales)
SOPHO PROPERTIES LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3676,1661,020,146
676,1661,020,146
Current assets
Debtors41,732100
Cash at bank and on hand437,11470,230
438,84670,330
Creditors amounts falling due within one year5(984,885)(950,640)
Net current assets (liabilities)(546,039)(880,310)
Total assets less current liabilities130,127139,836
Provisions for liabilities6(4,875)(25,114)
Net assets125,252114,722
Capital and reserves
Called up share capital100100
Revaluation reserve14,62483,854
Profit and loss account110,52830,768
Shareholders' funds125,252114,722
The financial statements were approved and authorised for issue by the Board of Directors on 29 January 2025, and are signed on its behalf by:
Michael Christopher Sophoclides
Director
Registered Company No. 08065794
SOPHO PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of contract is measured by comparing the costs incurred for work performed to date to the total estimated contact costs.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 June 231,020,1462,8981,023,044
Disposals(343,980)-(343,980)
At 31 May 24676,1662,898679,064
Depreciation and impairment
At 01 June 23-2,8982,898
At 31 May 24-2,8982,898
Net book value
At 31 May 24676,166-676,166
At 31 May 231,020,146-1,020,146
Freehold land and buildings: Historical cost 2024(£656,667) 2023 (£911,179)
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables100100
Prepayments and accrued income1,632-
Total1,732100
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-1,022
Taxation and social security13,7234,283
Other creditors971,162945,226
Accrued liabilities and deferred income-109
Total984,885950,640
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,87525,114
Total4,87525,114