Company Registration No. 12891829 (England and Wales)
SAMSON PROPERTY LTD
Unaudited accounts
for the year ended 30 September 2024
SAMSON PROPERTY LTD
Unaudited accounts
Contents
SAMSON PROPERTY LTD
Company Information
for the year ended 30 September 2024
Directors
Ms Hannah Boyle
Mr James Christopher Boyle
Ms Samuel Christopher Boyle
Company Number
12891829 (England and Wales)
Registered Office
BUNCH MEADOWS
WOODWAY
PRINCES RISBOROUGH
HP27 0NW
ENGLAND
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
SAMSON PROPERTY LTD
Statement of financial position
as at 30 September 2024
Tangible assets
15,801
19,751
Investment property
1,911,203
1,524,684
Cash at bank and in hand
385,756
340,261
Creditors: amounts falling due within one year
(26,293)
(21,143)
Net current assets
359,463
319,118
Total assets less current liabilities
2,286,467
1,863,553
Creditors: amounts falling due after more than one year
(2,254,520)
(1,896,770)
Net assets/(liabilities)
31,947
(33,217)
Called up share capital
100
100
Revaluation reserve
85,312
-
Profit and loss account
(53,465)
(33,317)
Shareholders' funds
31,947
(33,217)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by
Mr James Christopher Boyle
Director
Company Registration No. 12891829
SAMSON PROPERTY LTD
Notes to the Accounts
for the year ended 30 September 2024
SAMSON PROPERTY LTD is a private company, limited by shares, registered in England and Wales, registration number 12891829. The registered office is BUNCH MEADOWS, WOODWAY, PRINCES RISBOROUGH, HP27 0NW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Bal Method
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
SAMSON PROPERTY LTD
Notes to the Accounts
for the year ended 30 September 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
SAMSON PROPERTY LTD
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
At 30 September 2024
26,835
At 30 September 2024
11,034
At 30 September 2024
15,801
At 30 September 2023
19,751
Fair value at 1 October 2023
1,524,684
Net gain from fair value adjustments
85,312
At 30 September 2024
1,911,203
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,390
1,479
Loans from directors
21,653
17,814
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
906,500
532,500
Amounts owed to group undertakings and other participating interests
1,348,020
1,364,270
8
Transactions with related parties
At the balance sheet date, where the director James Christopher Boyle held controlling interests, the company owed JBA Corporation Ltd £1,348,020.
At the balance sheet date, where the director held controlling interest, the company owed to the director £21,653.
The company's ultimate controlling party is Mr James Christopher Boyle by virtue of the majority ownership of the issued share capital in the company.
SAMSON PROPERTY LTD
Notes to the Accounts
for the year ended 30 September 2024
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).