Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-3112994241299424true2023-08-01falseDevelopment of building projects22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04260984 2023-08-01 2024-07-31 04260984 2022-08-01 2023-07-31 04260984 2024-07-31 04260984 2023-07-31 04260984 c:Director1 2023-08-01 2024-07-31 04260984 c:Director2 2023-08-01 2024-07-31 04260984 d:FreeholdInvestmentProperty 2024-07-31 04260984 d:FreeholdInvestmentProperty 2023-07-31 04260984 d:CurrentFinancialInstruments 2024-07-31 04260984 d:CurrentFinancialInstruments 2023-07-31 04260984 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04260984 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04260984 d:ShareCapital 2024-07-31 04260984 d:ShareCapital 2023-07-31 04260984 d:InvestmentPropertiesRevaluationReserve 2023-08-01 2024-07-31 04260984 d:InvestmentPropertiesRevaluationReserve 2024-07-31 04260984 d:InvestmentPropertiesRevaluationReserve 2023-07-31 04260984 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 04260984 d:RetainedEarningsAccumulatedLosses 2024-07-31 04260984 d:RetainedEarningsAccumulatedLosses 2023-07-31 04260984 c:FRS102 2023-08-01 2024-07-31 04260984 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04260984 c:FullAccounts 2023-08-01 2024-07-31 04260984 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04260984 2 2023-08-01 2024-07-31 04260984 7 2023-08-01 2024-07-31 04260984 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 04260984 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04260984 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: 04260984







SAMFORD ENTERPRISES LIMITED
 
UNAUDITED
 
FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 31 JULY 2024

 
SAMFORD ENTERPRISES LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
SAMFORD ENTERPRISES LIMITED
REGISTERED NUMBER:04260984

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
500,000
500,000

  
500,000
500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
9,559
6,376

Cash at bank and in hand
  
139,380
114,030

  
148,939
120,406

Creditors: amounts falling due within one year
 6 
(107,419)
(97,409)

Net current assets
  
 
 
41,520
 
 
22,997

Total assets less current liabilities
  
541,520
522,997

Provisions for liabilities
  

Deferred tax
 7 
(25,072)
(25,072)

  
 
 
(25,072)
 
 
(25,072)

Net assets
  
516,448
497,925


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 8 
89,256
77,222

Profit and loss account
 8 
427,092
420,603

  
516,448
497,925


Page 1

 
SAMFORD ENTERPRISES LIMITED
REGISTERED NUMBER:04260984
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S G F Paul
................................................
O W Paul
Director
Director


Date: 2 March 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SAMFORD ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Samford Enterprises Limited is a private company limited by shares and incorporated in England and Wales, registration number 04260984. The registered office is Estate Office, Valley Farm, Valley Lane, Wherstead, Ipswich, Suffolk, IP9 2AX.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SAMFORD ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting 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 reporting 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 reporting date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.7

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.

 
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.

Page 4

 
SAMFORD ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







2
2

Page 5

 
SAMFORD ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
500,000



At 31 July 2024
500,000

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
399,712
399,712

399,712
399,712


5.


Debtors

2024
2023
£
£


Trade debtors
9,359
6,376

Prepayments and accrued income
200
-

9,559
6,376



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
73,914
73,914

Trade creditors
20,986
11,113

Corporation tax
4,345
5,787

Other taxation and social security
5,224
3,645

Accruals and deferred income
2,950
2,950

107,419
97,409


Page 6

 
SAMFORD ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Deferred taxation




2024


£






At beginning of year
25,072



At end of year
25,072

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property revaluations
25,072
25,072

25,072
25,072


8.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior period revaluations on investment properties where the fair value of a property exceeded its original cost. 

Profit & loss account

The profit and loss account includes all current and prior period retained profit and losses. 


9.


Related party transactions

At the year end the directors were owed £73,914 (2023: £73,914).
The company operates a joint venture with M Brewer Limited. 
During the year, the company paid over M Brewer Limited's share of rental income amounting to £41,891 (2023: £36,709) and received a contribution to shared expenses amounting to £8,528 (2023: £8,385).


 
Page 7