Company Registration No. 10923338 (England and Wales)
Segabuild Properties Limited
Unaudited accounts
for the year ended 31 August 2024
Segabuild Properties Limited
Unaudited accounts
Contents
Segabuild Properties Limited
Company Information
for the year ended 31 August 2024
Directors
James Malin
Zanna Malin
Company Number
10923338 (England and Wales)
Registered Office
19 ST. CHRISTOPHERS WAY
PRIDE PARK
DERBY
DE24 8JY
ENGLAND
Segabuild Properties Limited
Statement of financial position
as at 31 August 2024
Investment property
354,379
354,379
Cash at bank and in hand
3,542
176
Creditors: amounts falling due within one year
(196,867)
(184,902)
Net current liabilities
(180,706)
(172,107)
Total assets less current liabilities
173,675
182,274
Creditors: amounts falling due after more than one year
(197,163)
(197,926)
Net liabilities
(23,488)
(15,652)
Called up share capital
2
2
Profit and loss account
(23,490)
(15,654)
Shareholders' funds
(23,488)
(15,652)
For the 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. 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 11 April 2025 and were signed on its behalf by
James Malin
Director
Company Registration No. 10923338
Segabuild Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
Segabuild Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10923338. The registered office is 19 ST. CHRISTOPHERS WAY, PRIDE PARK, DERBY, DE24 8JY, 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.
The directors have assessed the statement of financial position and likely future cash flows at the date or approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, They continue to adopt the going concern basis in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and Value Added Tax.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
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.
All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.
The directors have assessed the fair value of the investment property based on rental income capitalisation method, as at the reporting date. The estimated fair value is considered not materially different from the carrying value. A market yield of 7% was applied based on comparable property data.
Segabuild Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts due within one year.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and nonportable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Allotted, called up and fully paid:
1 Ordinary A shares of £1 each
1
1
1 Ordinary B shares of £1 each
1
1
5
Transactions with related parties
Included within other creditors due within one year, is a balance of £67,305 due to a company with shared directors/shareholders. The amount is unsecured and interest free with no fixed repayment terms.
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).
7
Reconciliations on adoption of FRS 102