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SONSPROUD INVESTMENTS LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2024






SONSPROUD INVESTMENTS LIMITED (REGISTERED NUMBER: 00655897)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SONSPROUD INVESTMENTS LIMITED

Company Information
for the year ended 31st March 2024







DIRECTORS: M C Snelson
P Snelson





SECRETARY: P Snelson





REGISTERED OFFICE: 11 Rectory Lane
Heswall
Wirral
CH60 4RZ





REGISTERED NUMBER: 00655897 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

SONSPROUD INVESTMENTS LIMITED (REGISTERED NUMBER: 00655897)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 165,000 165,000

CURRENT ASSETS
Debtors 5 172,055 8,321
Cash at bank 10,637 -
182,692 8,321
CREDITORS
Amounts falling due within one year 6 4,807 3,486
NET CURRENT ASSETS 177,885 4,835
TOTAL ASSETS LESS CURRENT LIABILITIES 342,885 169,835

CREDITORS
Amounts falling due after more than one
year

7

177,618

-
NET ASSETS 165,267 169,835

CAPITAL AND RESERVES
Called up share capital 109 109
Fair value reserve 8 155,716 155,716
Retained earnings 9,442 14,010
SHAREHOLDERS' FUNDS 165,267 169,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

SONSPROUD INVESTMENTS LIMITED (REGISTERED NUMBER: 00655897)

Balance Sheet - continued
31st March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th January 2025 and were signed on its behalf by:





M C Snelson - Director


SONSPROUD INVESTMENTS LIMITED (REGISTERED NUMBER: 00655897)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Sonsproud Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgements and estimates. The area's in the financial statements where these judgements and estimates have been made include:

-Fair value of investment property.

Turnover
Turnover represents gross rents receivable.


Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

SONSPROUD INVESTMENTS LIMITED (REGISTERED NUMBER: 00655897)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 165,000
NET BOOK VALUE
At 31st March 2024 165,000
At 31st March 2023 165,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2022 155,716
Cost 9,284
165,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 9,284 9,284

Investment properties were valued on an open market basis on 31st March 2022 by M C Snelson a director of the company .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 172,055 8,321

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,167 2,166
Other creditors 2,640 1,320
4,807 3,486

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 177,618 -

SONSPROUD INVESTMENTS LIMITED (REGISTERED NUMBER: 00655897)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

8. RESERVES
Fair
value
reserve
£   
At 1st April 2023
and 31st March 2024 155,716

9. CONTINGENT LIABILITIES

Certain of the company's investment properties have been given as security in respect of the holding company's bank borrowings.