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Registered number: 02881411










SJR PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SJR PROPERTIES LIMITED
REGISTERED NUMBER: 02881411

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
459,735
439,520

Investments
 5 
23,129
161,718

  
482,864
601,238

Current assets
  

Debtors: amounts falling due within one year
 6 
153,096
206,346

Cash at bank and in hand
  
61,185
17,117

  
214,281
223,463

Creditors: amounts falling due within one year
 7 
(830,001)
(1,019,783)

Net current liabilities
  
 
 
(615,720)
 
 
(796,320)

Total assets less current liabilities
  
(132,856)
(195,082)

  

Net liabilities
  
(132,856)
(195,082)


Capital and reserves
  

Called up share capital 
  
9,600,000
9,600,000

Other reserves
  
900,819
900,819

Profit and loss account
  
(10,633,675)
(10,695,901)

  
(132,856)
(195,082)


Page 1

 
SJR PROPERTIES LIMITED
REGISTERED NUMBER: 02881411
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 profit and loss account 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 L Bernstein
Director

Date: 25 March 2025

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

Page 2

 
SJR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares and is incorporated in England & Wales. The address of it's registered office is 51 Welbeck Street, London, W1G 9HL.

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

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

Finance costs

Finance costs are charged to profit or loss 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 3

 
SJR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The freehold property has not been depreciated and this constitutes a departure from the general requirement of the Companies Act 2006 that all assets should be depreciated. The company's policy is to maintain the property to a high standard through continual programmes of refurbishment and maintenance. In accordance with this practice depreciation is not provided on the freehold property as, in the opinion of the directors, the residual value (in terms of original cost) is such that any depreciation charges would be immaterial.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
Short-term leasehold property
-
10%
straight line
Office equipment
-
33%
straight line

 
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 Profit and loss account 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.

 
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.

 
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

 
SJR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees



The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Freehold property
Short-term leasehold property
Office equipment
Total

£
£
£
£



Cost


At 1 April 2023
414,893
41,045
9,982
465,920


Additions
-
27,170
-
27,170



At 31 March 2024

414,893
68,215
9,982
493,090



Depreciation


At 1 April 2023
-
16,418
9,982
26,400


Charge for the year on owned assets
-
6,955
-
6,955



At 31 March 2024

-
23,373
9,982
33,355



Net book value



At 31 March 2024
414,893
44,842
-
459,735



At 31 March 2023
414,893
24,627
-
439,520

Page 5

 
SJR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Unlisted investments
Total

£
£
£
£



Cost


At 1 April 2023
2
5,060,000
25,000
5,085,002


Disposals
-
-
(1,873)
(1,873)



At 31 March 2024

2
5,060,000
23,127
5,083,129



Impairment


At 1 April 2023
-
4,923,284
-
4,923,284


Charge for the period
-
136,716
-
136,716



At 31 March 2024

-
5,060,000
-
5,060,000



Net book value



At 31 March 2024
2
-
23,127
23,129



At 31 March 2023
2
136,716
25,000
161,718


6.


Debtors

2024
2023
£
£


Trade debtors
1,440
-

Amounts owed by group companies
96,697
28,241

Other debtors
3,579
101,332

Prepayments and accrued income
51,380
76,773

153,096
206,346


Page 6

 
SJR PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
26,794
74,457

Other taxation and social security
5,632
6,571

Other creditors
782,648
932,606

Accruals and deferred income
14,927
6,149

830,001
1,019,783


 
Page 7