Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-292024-09-292023-09-30falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08704683 2023-09-30 2024-09-29 08704683 2022-09-30 2023-09-29 08704683 2024-09-29 08704683 2023-09-29 08704683 c:Director1 2023-09-30 2024-09-29 08704683 d:FurnitureFittings 2023-09-30 2024-09-29 08704683 d:FurnitureFittings 2024-09-29 08704683 d:FurnitureFittings 2023-09-29 08704683 d:FreeholdInvestmentProperty 2023-09-30 2024-09-29 08704683 d:FreeholdInvestmentProperty 2024-09-29 08704683 d:FreeholdInvestmentProperty 2023-09-29 08704683 d:CurrentFinancialInstruments 2024-09-29 08704683 d:CurrentFinancialInstruments 2023-09-29 08704683 d:Non-currentFinancialInstruments 2024-09-29 08704683 d:Non-currentFinancialInstruments 2023-09-29 08704683 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-29 08704683 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-29 08704683 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-29 08704683 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-29 08704683 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-09-29 08704683 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-29 08704683 d:ShareCapital 2024-09-29 08704683 d:ShareCapital 2023-09-29 08704683 d:RetainedEarningsAccumulatedLosses 2024-09-29 08704683 d:RetainedEarningsAccumulatedLosses 2023-09-29 08704683 c:OrdinaryShareClass2 2023-09-30 2024-09-29 08704683 c:OrdinaryShareClass2 2024-09-29 08704683 c:OrdinaryShareClass2 2023-09-29 08704683 c:OrdinaryShareClass3 2023-09-30 2024-09-29 08704683 c:OrdinaryShareClass3 2024-09-29 08704683 c:OrdinaryShareClass3 2023-09-29 08704683 c:OrdinaryShareClass4 2023-09-30 2024-09-29 08704683 c:OrdinaryShareClass4 2024-09-29 08704683 c:OrdinaryShareClass4 2023-09-29 08704683 c:OrdinaryShareClass5 2023-09-30 2024-09-29 08704683 c:OrdinaryShareClass5 2024-09-29 08704683 c:OrdinaryShareClass5 2023-09-29 08704683 c:FRS102 2023-09-30 2024-09-29 08704683 c:AuditExempt-NoAccountantsReport 2023-09-30 2024-09-29 08704683 c:FullAccounts 2023-09-30 2024-09-29 08704683 c:PrivateLimitedCompanyLtd 2023-09-30 2024-09-29 08704683 2 2023-09-30 2024-09-29 08704683 4 2023-09-30 2024-09-29 08704683 e:PoundSterling 2023-09-30 2024-09-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08704683









SFB PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 SEPTEMBER 2024

 
SFB PROPERTIES LIMITED
REGISTERED NUMBER: 08704683

BALANCE SHEET
AS AT 29 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
1,498,451
2,273,451

Current assets
  

Debtors: amounts falling due within one year
 6 
746,256
935,307

Cash at bank and in hand
  
74,260
68,846

  
820,516
1,004,153

Creditors: amounts falling due within one year
 7 
(2,148,414)
(2,226,259)

Net current liabilities
  
 
 
(1,327,898)
 
 
(1,222,106)

Total assets less current liabilities
  
170,553
1,051,345

Creditors: amounts falling due after more than one year
 8 
(414,577)
(414,577)

  

Net (liabilities)/assets
  
(244,024)
636,768


Capital and reserves
  

Called up share capital 
 10 
322,746
322,746

Profit and loss account
  
(566,770)
314,022

  
(244,024)
636,768


The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 on 21 March 2025.


Page 1

 
SFB PROPERTIES LIMITED
REGISTERED NUMBER: 08704683
    
BALANCE SHEET (CONTINUED)
AS AT 29 SEPTEMBER 2024


S F Bearfield
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SFB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

1.


General information

SFB Properties Limited ("the Company") is a private limited company by shares and it is incorporated in England and Wales. The Company's principal activity is the buying and selling of real estate. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised by the Company in respect of rental income received during the year, exclusive of Value Added Tax.

  
2.3

Lease of assets

The Company received rental income on assets held for use in operating leases. It recognises the rental income on a straight line basis and accounts for costs over the life of the lease.

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director 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 profit or loss.

Page 3

 
SFB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

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.

 
2.8

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.9

Borrowing costs

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

 
2.10

Taxation

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 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.


 
2.11

Interest income

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

Page 4

 
SFB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.13

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.


3.


Employees

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


        2024
        2023
            No.
            No.







Director
1
1


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 30 September 2023
2,115



At 29 September 2024

2,115



Depreciation


At 30 September 2023
2,115



At 29 September 2024

2,115



Net book value



At 29 September 2024
-



At 29 September 2023
-

Page 5

 
SFB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 30 September 2023
2,273,451


Disposals
(775,000)



At 29 September 2024
1,498,451

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







6.


Debtors

2024
2023
£
£


Other debtors
746,256
935,307

746,256
935,307



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
2,141,414
2,219,259

Accruals and deferred income
7,000
7,000

2,148,414
2,226,259



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
414,577
414,577


Page 6

 
SFB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Bank loans
414,577
414,577


Bank loans are secured upon the properties to which they relate.


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2021 - 01) Ordinary A share of £0.01
0.01
0.01
1 (2021 - 01) Ordinary B share of £0.01
0.01
0.01
98 (2021 - 098) Ordinary C shares of £0.01 each
0.98
0.98
322,745 (2023 - 322,745) Redeemable Preference shares of £1.00 each
322,745.00
322,745.00

322,746.00

322,746.00

The Redeemable Preference shares may be redeemed at any point at any point after 30 November 2015 if sufficient cash resources are available as determined by the director.



11.


Lease of assets

The Company has aggregate rentals receivable in relation to operating leases of £50,766 (2023 - £87,446)
At the year end, the Company held fixed assets used in operating leases at a cost of £1,498,451 
(2023 - £2,273,451)


12.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


13.


Related party transactions

Included within note 10 to the accounts is a balance of £2,134,002 (2023 - £2,134,002) due to the director. the balance is included within other creditors.

Page 7

 
SFB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024

14.


Controlling party

The Company deems Mr S F Bearfield the ultimate controlling party.

 
Page 8