Registered number
07696424
SECURE PROPERTY DEVELOPMENTS LTD
Filleted Accounts
28 March 2024
SECURE PROPERTY DEVELOPMENTS LTD
Registered number: 07696424
Balance Sheet
as at 28 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 924,604 900,000
Current assets
Debtors 4 176,698 96,739
Cash at bank and in hand 74,041 5,961
250,739 102,700
Creditors: amounts falling due within one year 5 (88,758) (374,509)
Net current assets/(liabilities) 161,981 (271,809)
Total assets less current liabilities 1,086,585 628,191
Creditors: amounts falling due after more than one year 6 (861,319) (397,523)
Net assets 225,266 230,668
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 206,489 206,489
Profit and loss account 18,677 24,079
Shareholders' funds 225,266 230,668
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Vivake Kumar Mehra
Director
Approved by the board on 19 March 2025
SECURE PROPERTY DEVELOPMENTS LTD
Notes to the Accounts
for the period from 30 March 2023 to 28 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment Properties
Land and buildings
£
Cost
At 30 March 2023 900,000
Additions 24,604
At 28 March 2024 924,604
Depreciation
At 28 March 2024 -
Net book value
At 28 March 2024 924,604
At 29 March 2023 900,000
4 Debtors 2024 2023
£ £
Trade debtors - (5,700)
Other debtors 176,698 102,439
176,698 96,739
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 270,431
Trade creditors 74,116 66,674
Taxation and social security costs 14,480 36,746
Other creditors 162 658
88,758 374,509
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 549,958 9,662
Other creditors 311,361 387,861
861,319 397,523
7 Revaluation reserve 2024 2023
£ £
At 30 March 2023 206,489 466,489
Loss on revaluation of land and buildings - (260,000)
At 28 March 2024 206,489 206,489
8 Other information
SECURE PROPERTY DEVELOPMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Ace House
22 Chester Road
Sutton Coldfield
England
B73 5DA
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