Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 04303155 Mr J S Nicol Mr J S Nicol The Freddie Green & Family Charitable Foundation. true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04303155 2023-05-31 04303155 2024-05-31 04303155 2023-06-01 2024-05-31 04303155 frs-core:ShareCapital 2024-05-31 04303155 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 04303155 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04303155 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 04303155 frs-bus:SmallEntities 2023-06-01 2024-05-31 04303155 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04303155 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04303155 1 2023-06-01 2024-05-31 04303155 frs-core:DeferredTaxation 2023-05-31 04303155 frs-core:DeferredTaxation 2024-05-31 04303155 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 04303155 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 04303155 frs-bus:Director1 2023-06-01 2024-05-31 04303155 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 04303155 frs-countries:EnglandWales 2023-06-01 2024-05-31 04303155 2022-05-31 04303155 2023-05-31 04303155 2022-06-01 2023-05-31 04303155 frs-core:ShareCapital 2023-05-31 04303155 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 04303155 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31
Registered number: 04303155
Sipson Green Limited
ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 04303155
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,300,000 1,300,000
1,300,000 1,300,000
CURRENT ASSETS
Debtors 2,502 2,502
Cash at bank and in hand 58,839 56,814
61,341 59,316
Creditors: Amounts Falling Due Within One Year (7,611 ) (7,499 )
NET CURRENT ASSETS (LIABILITIES) 53,730 51,817
TOTAL ASSETS LESS CURRENT LIABILITIES 1,353,730 1,351,817
PROVISIONS FOR LIABILITIES
Deferred Taxation (210,245 ) (210,245 )
NET ASSETS 1,143,485 1,141,572
CAPITAL AND RESERVES
Called up share capital 6 462,002 462,002
Fair value reserve 7 630,734 630,734
Profit and Loss Account 50,749 48,836
SHAREHOLDERS' FUNDS 1,143,485 1,141,572
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr J S Nicol
Director
4th February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Sipson Green Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04303155 . The registered office is 2 Station Road West, Oxted, Surrey, RH8 9EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents invoiced sales of services.
2.3. Investment Properties
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.
2.4. Financial Instruments
i)Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, and loans from fellow Group companies are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,300,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 459,021 459,021
Investment property was revlaued on an open market basis on 31 May 2021 by Matthews & Son LLP.
The directors re-assessed the values of the investment properties as at 31 May 2024 and concluded no adjustments to the open market value are required for the year ended 31 May 2024.
5. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 210,245 210,245
Balance at 31 May 2024 210,245 210,245
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 462,002 462,002
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7. Reserves
Fair Value Reserve
£
As at 1 June 2023 630,734
As at 31 May 2024 630,734
8. Ultimate Controlling Party
The ultimate controlling party is The Freddie Green & Family Charitable Foundation.
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