Company registration number SC637207 (Scotland)
S & J PROPERTY SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
S & J PROPERTY SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
S & J PROPERTY SOLUTIONS LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,110
52,462
Investment property
4
112,946
112,946
165,056
165,408
Current assets
Debtors
5
501
Cash at bank and in hand
1,847
3,984
2,348
3,984
Creditors: amounts falling due within one year
6
(5,836)
(7,175)
Net current liabilities
(3,488)
(3,191)
Total assets less current liabilities
161,568
162,217
Creditors: amounts falling due after more than one year
7
(177,884)
(177,353)
Net liabilities
(16,316)
(15,136)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(16,317)
(15,137)
Total equity
(16,316)
(15,136)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
S & J PROPERTY SOLUTIONS LTD
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 April 2025
Ms J De Castro
Director
Company Registration No. SC637207
S & J PROPERTY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
S & J Property Solutions Ltd is a private company limited by shares incorporated in Scotland. The registered office is 51 Church Drive, Mossblown, Ayr, United Kingdom,, KA6 5AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the year end, the company had net liabilities. The director has confirmed that they will continue to provide financial support to the company until such time that the financial position improves. The director therefore considers it appropriate to prepare the financial statements on a going concern basis.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No Depreciation
Fixtures and fittings
20% Reducing balance
Computers
20% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
S & J PROPERTY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 August 2023 and 31 July 2024
50,877
2,158
399
53,434
Depreciation and impairment
At 1 August 2023
799
173
972
Depreciation charged in the year
272
80
352
At 31 July 2024
1,071
253
1,324
Carrying amount
At 31 July 2024
50,877
1,087
146
52,110
At 31 July 2023
50,877
1,359
226
52,462
4
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
112,946
Included within Investment property at 31 July 2022 are capitalised borrowing costs of £1,015.
The director considers the valuation to be a fair reflection of open market value at the balance sheet date.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
501
S & J PROPERTY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
3,756
2,255
Trade creditors
160
Accruals and deferred income
1,920
4,920
5,836
7,175
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
177,884
177,353
Standard security is held by the bank over 1 Victoria Place, Workington and 23 Pembroke, East Kilbride and a floating charge over the whole assets of the company.
Amounts included above which fall due after five years are as follows:
Payable other than by instalments
177,884
177,353