Registered number
12801935
SAFSOZ PROPERTIES LTD
Filleted Accounts
31 August 2024
SAFSOZ PROPERTIES LTD
Registered number: 12801935
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 496,390 496,390
Current assets
Cash at bank and in hand 4,186 4,350
Creditors: amounts falling due within one year 4 (36,064) (18,247)
Net current liabilities (31,878) (13,897)
Total assets less current liabilities 464,512 482,493
Creditors: amounts falling due after more than one year 5 (414,373) (449,400)
Net assets 50,139 33,093
Capital and reserves
Called up share capital 100 100
Profit and loss account 50,039 32,993
Shareholders' funds 50,139 33,093
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yakup SAFSOZ
Director
Approved by the board on 31 January 2025
SAFSOZ PROPERTIES LTD
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental income.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2023 496,390
At 31 August 2024 496,390
Depreciation
At 31 August 2024 -
Net book value
At 31 August 2024 496,390
At 31 August 2023 496,390
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 21,653 -
Trade creditors 720 768
Taxation and social security costs 3,951 7,739
Other creditors & deposit received 9,740 9,740
36,064 18,247
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 157,610 187,292
Other creditors 256,763 262,108
414,373 449,400
6 Other information
SAFSOZ PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
14 Towne Road
Royston
SG8 9ES
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