Registration number:
SDT Properties Limited
for the Year Ended 31 August 2024
SDT Properties Limited
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
SDT Properties Limited
Company Information
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Director |
S A Dawodu-Talabi |
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Company secretary |
D A Talabi |
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Registered office |
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Accountants |
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SDT Properties Limited
(Registration number: 04802880)
Abridged Balance Sheet as at 31 August 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Revaluation reserve |
53,448 |
53,448 |
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Retained earnings |
(42,824) |
(47,176) |
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Shareholders' funds |
10,824 |
6,472 |
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
SDT Properties Limited
(Registration number: 04802880)
Abridged Balance Sheet as at 31 August 2024
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Director
SDT Properties Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 abridged 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 abridged 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.
The company can meet its working capital requirements through the continued support of its director during the period of 12 months from the date of signing these financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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.
SDT Properties Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
Provisions
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing differences.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
SDT Properties Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
Financial instruments
Recognition and measurement
Basic financial liabilities, including trade and other payables and bank loans, that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Investment properties |
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2024 |
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At 1 September |
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At 31 August |
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There has been no valuation of investment property by an independent valuer.
Investment properties was valued on an open market value basis on 31 August 2023 by the director.
SDT Properties Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
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Related party transactions |
Included in other creditors, there is a director's loan account balance of £104,221 (2023: £117,285).
Included in other creditors, there is a loan balance outstanding from SDT Accounting and Taxation Services Limited, of £153,175 (2023: £131,675), a company under common control.
Included in other debtors, there is a loan balance due from SDT Properties 2017 Limited, of £68,587 (2023: £66,700), a company under common control.
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Creditors |
Creditors: amounts falling due after more than one year
Creditors falling due after more than one year include bank loans which are secured by first legal charge over the properties of £496,403(2023 - £496,403).
Creditors include bank loans repayable by instalments of £496,403 (2023 - £496,403) due after more than five years.