Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-252024-03-25true2023-03-26falsefalseThe principal activity of the company in the year under review was that of property development and investments.22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01650124 2023-03-26 2024-03-25 01650124 2022-03-26 2023-03-25 01650124 2024-03-25 01650124 2023-03-25 01650124 c:Director2 2023-03-26 2024-03-25 01650124 d:FreeholdInvestmentProperty 2023-03-26 2024-03-25 01650124 d:FreeholdInvestmentProperty 2024-03-25 01650124 d:FreeholdInvestmentProperty 2023-03-25 01650124 d:CurrentFinancialInstruments 2024-03-25 01650124 d:CurrentFinancialInstruments 2023-03-25 01650124 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-25 01650124 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-25 01650124 d:ShareCapital 2024-03-25 01650124 d:ShareCapital 2023-03-25 01650124 d:RetainedEarningsAccumulatedLosses 2024-03-25 01650124 d:RetainedEarningsAccumulatedLosses 2023-03-25 01650124 d:AcceleratedTaxDepreciationDeferredTax 2024-03-25 01650124 d:AcceleratedTaxDepreciationDeferredTax 2023-03-25 01650124 c:FRS102 2023-03-26 2024-03-25 01650124 c:AuditExemptWithAccountantsReport 2023-03-26 2024-03-25 01650124 c:FullAccounts 2023-03-26 2024-03-25 01650124 c:PrivateLimitedCompanyLtd 2023-03-26 2024-03-25 01650124 6 2023-03-26 2024-03-25 01650124 e:PoundSterling 2023-03-26 2024-03-25 iso4217:GBP xbrli:pure
Registered number: 01650124


SAMSON PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 25 MARCH 2024


















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Chartered Accountants
2nd Floor, Heathmans House
19 Heathmans Road
London
SW6 4TJ

 
SAMSON PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAMSON PROPERTIES LIMITED
FOR THE YEAR ENDED 25 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SAMSON PROPERTIES LIMITED for the year ended 25 March 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of SAMSON PROPERTIES LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SAMSON PROPERTIES LIMITED and state those matters that we have agreed to state to the Board of Directors of SAMSON PROPERTIES LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAMSON PROPERTIES LIMITED and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that SAMSON PROPERTIES LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAMSON PROPERTIES LIMITED. You consider that SAMSON PROPERTIES LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SAMSON PROPERTIES LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Haggards Cowrther LLP
 
2nd Floor , Heathmans House
19 Heathmans Road
London
SW6 4TJ
31 January 2025
Page 1

 
SAMSON PROPERTIES LIMITED
REGISTERED NUMBER: 01650124

BALANCE SHEET
AS AT 25 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
662,400
662,400

Investment property
  
4,558,522
4,259,839

  
5,220,922
4,922,239

Current assets
  

Debtors
 6 
1,543,378
1,919,578

Cash at bank and in hand
  
28,267
84,331

  
1,571,645
2,003,909

Creditors: amounts falling due within one year
 8 
(3,302,454)
(3,410,767)

Net current liabilities
  
 
 
(1,730,809)
 
 
(1,406,858)

Total assets less current liabilities
  
3,490,113
3,515,381

Provisions for liabilities
  

Deferred tax
  
(538,491)
(538,491)

  
 
 
(538,491)
 
 
(538,491)

Net assets
  
2,951,622
2,976,890


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
2,901,622
2,926,890

  
2,951,622
2,976,890


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2

 
SAMSON PROPERTIES LIMITED
REGISTERED NUMBER: 01650124
    
BALANCE SHEET (CONTINUED)
AS AT 25 MARCH 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 January 2025.




P J Thompson
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SAMSON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

1.


General information

Samson Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01650124 and its registered address is 60 Pembroke Road, London, England, W8 6NX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents the value of rental income provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Rents and service charges from lettings are recognised net of losses from voids. Income is recognised from the date the property is first let. 

 
2.3

Finance costs

Finance costs are charged to the income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
SAMSON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the income statement.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
SAMSON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.10

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
19,992
19,992

19,992
19,992


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
SAMSON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 26 March 2023
179
662,221
662,400



At 25 March 2024
179
662,221
662,400





5.


Investment property


Freehold investment property

£



Valuation


At 26 March 2023
4,259,839


Additions at cost
298,683



At 25 March 2024
4,558,522

The 2024 valuations were made by the directors, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£

Due after more than one year

Due within one year

Trade debtors
6,675
3,200

Other debtors
1,522,107
1,916,378

Prepayments and accrued income
14,596
-

1,543,378
1,919,578


Page 7

 
SAMSON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
28,267
84,331

28,267
84,331



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
59,935
8,249

Corporation tax
-
35,554

Other taxation and social security
2,871
-

Other creditors
3,219,131
3,338,564

Accruals and deferred income
20,517
28,400

3,302,454
3,410,767



9.


Deferred taxation




2024


£






At beginning of year
(538,491)



At end of year
(538,491)

The deferred tax asset is made up as follows:

2024
2023
£
£


Deferred tax - brought forward
(538,491)
(538,491)

(538,491)
(538,491)

Page 8

 
SAMSON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024

10.


Controlling party

At the year end, the company was owed £68,176 (2023: £68,176) by Tableswitch Ltd, a company under the control of close family members of the director Mr J Samuels. The loan amount is unsecured, not subject to interest, and repayable on demand.

 
Page 9