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Registration number: 10809464

SDT Properties 2017 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

SDT Properties 2017 Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

Detailed Profit and Loss Account

11

 

SDT Properties 2017 Limited

Company Information

Director

 

S A Dawodu-Talabi

Registered office

 

26 Beechwood Avenue
Chatham
Kent
ME5 7HH

 

 

SDT Properties 2017 Limited

Director's Report for the Year Ended 31 August 2024

The director presents her report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

S A Dawodu-Talabi

Principal activity

The principal activity of the company is property investment

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 13 May 2025 and signed on its behalf by:


S A Dawodu-Talabi
Director

 

SDT Properties 2017 Limited

Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

28,943

25,536

Cost of sales

 

(4,911)

(4,540)

Gross profit

 

24,032

20,996

Administrative expenses

 

(13,208)

(13,242)

Operating profit

 

10,824

7,754

Interest payable and similar expenses

 

(15,466)

(27,664)

Loss before tax

(4,642)

(19,910)

Loss for the financial year

 

(4,642)

(19,910)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

SDT Properties 2017 Limited

(Registration number: 10809464)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

643,827

381,976

Current assets

 

Debtors

5

1,583

74,445

Cash at bank and in hand

 

2,592

2,886

 

4,175

77,331

Creditors: Amounts falling due within one year

6

(182,645)

(172,308)

Net current liabilities

 

(178,470)

(94,977)

Total assets less current liabilities

 

465,357

286,999

Creditors: Amounts falling due after more than one year

6

(492,453)

(309,453)

Net liabilities

 

(27,096)

(22,454)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(27,196)

(22,554)

Shareholders' deficit

 

(27,096)

(22,454)

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:

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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

SDT Properties 2017 Limited

(Registration number: 10809464)
Balance Sheet as at 31 August 2024

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’.

Approved and authorised by the director on 13 May 2025
 

S A Dawodu-Talabi
Director

 

SDT Properties 2017 Limited

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

100

(22,554)

(22,454)

Loss for the year

-

(4,642)

(4,642)

At 31 August 2024

100

(27,196)

(27,096)

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

(2,644)

(2,544)

Loss for the year

-

(19,910)

(19,910)

At 31 August 2023

100

(22,554)

(22,454)

 

SDT Properties 2017 Limited

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

1

General information

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

The address of its registered office is:
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

These financial statements were authorised for issue by the director on 13 May 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 2017 Limited

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. 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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 September

643,827

At 31 August

643,827

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 2024 by the director.

 

SDT Properties 2017 Limited

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

5

Debtors

Current

2024
£

2023
£

Other debtors

1,583

74,445

 

1,583

74,445

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

50

Other creditors

182,645

172,258

182,645

172,308

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

492,453

309,453

2024
£

2023
£

Due after more than five years

After more than five years by instalments

476,953

289,453

-

-

Creditors include bank loans which are secured on the property as a first charge of £476,953 (2023 - £289,453).

Creditors include bank loans repayable by instalments of £476,953 (2023 - £289,453) due after more than five years.

Creditors due in more than one year include other loans of £10,000 (2023 - £20,000).

 

SDT Properties 2017 Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

476,953

289,453

Other borrowings

15,500

20,000

492,453

309,453

8

Related party transactions

Included in other creditors, there is a director's loan account balance of £89,058 (2023: £79,558).

 

 

SDT Properties 2017 Limited

Detailed Profit and Loss Account for the Year Ended 31 August 2024

2024
 £

2023
 £

Turnover

Other revenue

223

263

Rental income from investment property

28,720

22,150

Commissions receivable

-

3,123

28,943

25,536

Cost of sales

Direct costs

4,911

4,540

Establishment costs

Ground rent and service charges

(5,555)

(3,743)

Insurance

(300)

-

Repairs and maintenance

(823)

-

(6,678)

(3,743)

General administrative expenses

Sundry expenses

(1,947)

(732)

Finance charges

Abortive costs

(3,576)

(5,000)

Bank charges

(84)

(84)

Remortgage costs

(923)

(3,683)

(4,583)

(8,767)

Operating profit

10,824

7,754

Interest payable and similar charges

Bank loan interest payable

15,465

15,664

Other loan interest

1

12,000

15,466

27,664

Loss before tax

(4,642)

(19,910)