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Company Registration No. 13717971 (England and Wales)







SWEENVEST PROPERTIES LIMITED

UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024




































Riordan O'Sullivan & Co
Chartered Certified Accountants 
40 Chamberlayne Road
London
NW10 3JE

 
SWEENVEST PROPERTIES LIMITED
 
 
COMPANY INFORMATION


Directors
J P Sweeney 
P C Sweeney 




Registered number
13717971



Registered office
3 Conqueror Court
Spilsby Road

Romford

Essex

RM3 8SB




Accountants
Riordan O'Sullivan & Co
Chartered Certified Accountants

40 Chamberlayne Road

London

NW10 3JE





 
SWEENVEST PROPERTIES LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 4


 
SWEENVEST PROPERTIES LIMITED
REGISTERED NUMBER:13717971

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
508,114
508,114

  
508,114
508,114

Current assets
  

Bank and cash balances
  
27,062
3,337

  
27,062
3,337

Creditors: amounts falling due within one year
 5 
(517,081)
(510,614)

Net current liabilities
  
 
 
(490,019)
 
 
(507,277)

Total assets less current liabilities
  
18,095
837

Net assets
  
18,095
837


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
17,995
737

  
18,095
837


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 year 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 profit and loss account 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 on 9 May 2025.



___________________________
P C Sweeney
Director

Page 1

 
SWEENVEST PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Sweenvest Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Conqueror Court, Spilsby Road, Essex, RM3 8SB. 

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The directors have also reasonable expectations for the ability and willingness of the related companies, where the directors have mutual interest by virtue of their share holdings, to provide adequate support to the company.

 
2.3

Turnover

Turnover represents the total invoice value of the rent receivable during the year.

 
2.4

Taxation

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.


 
2.5

Investment property

Investment property, which is held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Page 2

 
SWEENVEST PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


3.


Employees


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


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
508,114



At 31 August 2024
508,114

At the balance sheet date, the directors consider the carrying amount of the investment property approximate to its fair value. 



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to related undertaking
511,308
510,614

Corporation tax
4,573
-

Accruals
1,200
-

517,081
510,614


Amounts owed to related undertaking are interest free, unsecured and payable on demand.


6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100  Ordinary shares shares of £1.00 each
100
100


Page 3

 
SWEENVEST PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Post balance sheet events

There were no events since year end which materially affected the company.


8.


Controlling party

The company is owned and controlled by the directors.

 
Page 4