Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseThe principal activity of the company was that of letting properties.22truetruefalse 09099041 2023-07-01 2024-12-31 09099041 2022-07-01 2023-06-30 09099041 2024-12-31 09099041 2023-06-30 09099041 c:Director1 2023-07-01 2024-12-31 09099041 c:Director2 2023-07-01 2024-12-31 09099041 d:FreeholdInvestmentProperty 2023-07-01 2024-12-31 09099041 d:FreeholdInvestmentProperty 2024-12-31 09099041 d:FreeholdInvestmentProperty 2023-06-30 09099041 d:FreeholdInvestmentProperty 2 2023-07-01 2024-12-31 09099041 d:CurrentFinancialInstruments 2024-12-31 09099041 d:CurrentFinancialInstruments 2023-06-30 09099041 d:Non-currentFinancialInstruments 2024-12-31 09099041 d:Non-currentFinancialInstruments 2023-06-30 09099041 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09099041 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 09099041 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 09099041 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 09099041 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-12-31 09099041 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 09099041 d:ShareCapital 2024-12-31 09099041 d:ShareCapital 2023-06-30 09099041 d:RetainedEarningsAccumulatedLosses 2024-12-31 09099041 d:RetainedEarningsAccumulatedLosses 2023-06-30 09099041 c:FRS102 2023-07-01 2024-12-31 09099041 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-12-31 09099041 c:FullAccounts 2023-07-01 2024-12-31 09099041 c:PrivateLimitedCompanyLtd 2023-07-01 2024-12-31 09099041 f:PoundSterling 2023-07-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 09099041










SOFTLY SURMAN PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
SOFTLY SURMAN PROPERTIES LIMITED
REGISTERED NUMBER: 09099041

BALANCE SHEET
AS AT 31 DECEMBER 2024

31 December
As restated
30
 June
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,966,396
3,376,021

  
3,966,396
3,376,021

Current assets
  

Debtors: amounts falling due within one year
 5 
287,044
57,065

Cash at bank and in hand
 6 
97,701
1,373

  
384,745
58,438

Creditors: amounts falling due within one year
 7 
(26,889)
(1,580,362)

Net current assets/(liabilities)
  
 
 
357,856
 
 
(1,521,924)

Total assets less current liabilities
  
4,324,252
1,854,097

Creditors: amounts falling due after more than one year
 8 
(4,026,570)
(2,011,856)

  

Net assets/(liabilities)
  
297,682
(157,759)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
297,582
(157,859)

  
297,682
(157,759)


Page 1

 
SOFTLY SURMAN PROPERTIES LIMITED
REGISTERED NUMBER: 09099041
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 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 by: 






................................................
Mr D Softly
................................................
Mr A Surman
Director
Director


Date: 30 April 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Softy Surman Properties Limited  is  a  private  limited  company,  limited  by  shares,  registered  in
England and Wales.
The registered office is located at Saint Stephens House, Arthur Road, Windsor, Berkshire, United Kingdom, SL4 1RU.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The Company is dependent on the continued financial support and funding from its directors. The directors have confirmed that they have no intention to withdraw this support and will continue to make available such funds as are needed for the Company to meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.


 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 2).

Page 5

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Investment property





Freehold investment property

£



Valuation


At 1 July 2023
3,376,021


Additions at cost
54,069


Disposals
(3,867)


Surplus on revaluation
540,173



At 31 December 2024
3,966,396

The directors have carried out a revaluation of the company's investment property as at 31 December 2024. The revaluation was undertaken to ensure that the carrying amount reflects fair value at the reporting date in accordance with relevant accounting standards. The fair value has been determined based on the directors’ assessment of market conditions and recent comparable market transactions, having considered the location, condition and potential rental yield of the property. 



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

31 December
30 June
2024
2023
£
£


Historic cost
3,382,148
3,376,021

3,382,148
3,376,021


5.


Debtors

31 December
As restated
30 June
2024
2023
£
£


Short term loans to others
200,000
-

Deposits
13,236
14,172

Prepayments and accrued income
2,671
-

Deferred taxation
71,137
42,893

287,044
57,065


Page 6

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Cash and cash equivalents

31 December
30 June
2024
2023
£
£

Cash at bank and in hand
97,701
1,373

97,701
1,373



7.


Creditors: Amounts falling due within one year

31 December
30 June
2024
2023
£
£

Amounts owed to group undertakings
-
1,577,976

Other taxation
12,075
-

Other creditors
2,139
2,386

Accruals and deferred income
12,675
-

26,889
1,580,362


Page 7

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due after more than one year

31 December
30 June
2024
2023
£
£

Bank loans
2,226,570
1,336,856

Directors loans
1,800,000
675,000

4,026,570
2,011,856


The following liabilities were secured:

31 December
30 June
2024
2023
£
£



Bank loans
2,226,570
1,336,856

Directors loans
1,800,000
675,000

4,026,570
2,011,856

Details of security provided:

Bank loans falling due after more than one year are secured by fixed charges over the relevant property in favour of Lendco Limited and Shawbrook Bank Limited.
Directors loans falling due after more than one year are secured by fixed and floating charges over all Company assets, in favour of Mr D Softly and Mr A Surman.


9.


Loans


Analysis of the maturity of loans is given below:


31 December
30 June
2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
2,226,570
1,336,856

2,226,570
1,336,856

2,226,570
1,336,856


Page 8

 
SOFTLY SURMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

10.


Related party transactions

The company has taken advantage of the exemption under Section 33.1A of FRS 102 and has not disclosed transactions with wholly-owned members of the group.


11.


Controlling party

Until 29 October 2024, the Company’s ultimate controlling party was Softly Surman Holdings Limited. On that date, the entire share capital of the Company was acquired and is now jointly owned by Mr D Softly and Mr A Surman.

 
Page 9