Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mrs R A O'Sullivan 19/04/2022 Mr S A O'Sullivan 19/04/2022 24 February 2025 The principal activity of the company during the financial year was that of property investment. 14051465 2024-08-31 14051465 bus:Director1 2024-08-31 14051465 bus:Director2 2024-08-31 14051465 2023-08-31 14051465 core:CurrentFinancialInstruments 2024-08-31 14051465 core:CurrentFinancialInstruments 2023-08-31 14051465 core:Non-currentFinancialInstruments 2024-08-31 14051465 core:Non-currentFinancialInstruments 2023-08-31 14051465 core:ShareCapital 2024-08-31 14051465 core:ShareCapital 2023-08-31 14051465 core:RetainedEarningsAccumulatedLosses 2024-08-31 14051465 core:RetainedEarningsAccumulatedLosses 2023-08-31 14051465 2022-04-18 14051465 bus:OrdinaryShareClass1 2024-08-31 14051465 bus:OrdinaryShareClass2 2024-08-31 14051465 2023-09-01 2024-08-31 14051465 bus:FilletedAccounts 2023-09-01 2024-08-31 14051465 bus:SmallEntities 2023-09-01 2024-08-31 14051465 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14051465 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14051465 bus:Director1 2023-09-01 2024-08-31 14051465 bus:Director2 2023-09-01 2024-08-31 14051465 2022-04-19 2023-08-31 14051465 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 14051465 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 14051465 bus:OrdinaryShareClass1 2022-04-19 2023-08-31 14051465 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 14051465 bus:OrdinaryShareClass2 2022-04-19 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14051465 (England and Wales)

SOS PROPERTY SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

SOS PROPERTY SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

SOS PROPERTY SERVICES LTD

BALANCE SHEET

As at 31 August 2024
SOS PROPERTY SERVICES LTD

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Investment property 3 246,077 246,077
246,077 246,077
Current assets
Debtors 4 5,734 4,401
Cash at bank and in hand 6,400 6,766
12,134 11,167
Creditors: amounts falling due within one year 5 ( 109,514) ( 103,500)
Net current liabilities (97,380) (92,333)
Total assets less current liabilities 148,697 153,744
Creditors: amounts falling due after more than one year 6 ( 165,800) ( 165,800)
Net liabilities ( 17,103) ( 12,056)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 17,203 ) ( 12,156 )
Total shareholders' deficit ( 17,103) ( 12,056)

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of SOS Property Services Ltd (registered number: 14051465) were approved and authorised for issue by the Board of Directors on 24 February 2025. They were signed on its behalf by:

Mr S A O'Sullivan
Director
SOS PROPERTY SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
SOS PROPERTY SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

SOS Property Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, Devon, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. At 31 August 2024, the company had net liabilities over assets of £17,103. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. The company recognises revenue based on its value of the services provided to date.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Year ended
31.08.2024
Period from
19.04.2022 to
31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 2

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 246,077
As at 31 August 2024 246,077

There has been no valuation of investment property by an independent valuer. The directors believes there is no material change to the value of the property.

4. Debtors

31.08.2024 31.08.2023
£ £
Prepayments 0 349
Deferred tax asset 5,734 4,052
5,734 4,401

5. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Accruals and deferred income 2,001 2,500
Other creditors 107,513 101,000
109,514 103,500

6. Creditors: amounts falling due after more than one year

31.08.2024 31.08.2023
£ £
Bank loans (secured) 165,800 165,800

The bank loans are secured on the investment property at Climsland Road.

7. Deferred tax

31.08.2024 31.08.2023
£ £
At the beginning of financial year/period 4,052 0
Credited to the Profit and Loss Account 1,682 4,052
At the end of financial year/period 5,734 4,052

8. Called-up share capital

31.08.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
70 Ordinary A shares of £ 1.00 each 70 70
30 Ordinary B shares of £ 1.00 each 30 30
100 100