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Registration number: 10155920

SG Property Holdings Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

SG Property Holdings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

SG Property Holdings Ltd

(Registration number: 10155920)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,846

36,291

Investment property

5

2,070,000

1,947,461

 

2,093,846

1,983,752

Current assets

 

Debtors

6

4,204

3,069

Cash at bank and in hand

 

86,198

96,677

 

90,402

99,746

Creditors: Amounts falling due within one year

7

(62,199)

(106,360)

Net current assets/(liabilities)

 

28,203

(6,614)

Total assets less current liabilities

 

2,122,049

1,977,138

Creditors: Amounts falling due after more than one year

7

(1,316,500)

(1,316,603)

Provisions for liabilities

(92,309)

(63,064)

Net assets

 

713,240

597,471

Capital and reserves

 

Called up share capital

100

100

Other reserves

81,998

81,998

Retained earnings

631,142

515,373

Shareholders' funds

 

713,240

597,471

 

SG Property Holdings Ltd

(Registration number: 10155920)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................
Mr A S Garnett
Director

.........................................
Mr P Staniforth
Director

 

SG Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1A Ernest Street
Crewe
Cheshire
CW2 6JF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SG Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in
the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined annually by external valuers or the expert opinion of the director. The valuers use observable
market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.
Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

SG Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

189,672

189,672

Additions

3,891

3,891

At 31 July 2024

193,563

193,563

Depreciation

At 1 August 2023

153,381

153,381

Charge for the year

16,336

16,336

At 31 July 2024

169,717

169,717

Carrying amount

At 31 July 2024

23,846

23,846

At 31 July 2023

36,291

36,291

5

Investment properties

2024
£

At 1 August

1,947,461

Fair value adjustments

122,539

At 31 July

2,070,000

6

Debtors

Current

2024
£

2023
£

Other debtors

4,204

3,069

 

4,204

3,069

 

SG Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

23,553

38,760

Other creditors

38,646

67,600

62,199

106,360

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,316,500

1,316,603


Included within Loans and borrowings is £82,467 (2023 - £82,467) in relation to a loan which is secured by a fixed charge and negative pledge over the freehold land and property at 102 Ruskin Road, CW2 7JS.

Included within Loans and borrowings is £75,871 (2023 - £75,871) in relation to a loan which is secured by a fixed charge and negative pledge over the freehold land and property at 56 Samuel Street, CW2 7JR.

Included within Loans and borrowings is £560,000 (2023 - £550,000) in relation to a loan which is secured by a floating charge and negative pledge over the properties and undertakings of the business.

Included within Loans and borrowings is £301,665 (2023 - £311,610) in relation to a loan which is secured by a fixed charge and negative pledge over the freehold land and property and fixtures and fittings at 130-132 Nantwich road, CW2 6AX.