Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-09false32023-09-01falseLetting of property3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05954848 2023-09-01 2024-08-31 05954848 2022-09-01 2023-08-31 05954848 2024-08-31 05954848 2023-08-31 05954848 1 2023-09-01 2024-08-31 05954848 d:Director1 2023-09-01 2024-08-31 05954848 d:Director2 2023-09-01 2024-08-31 05954848 d:Director3 2023-09-01 2024-08-31 05954848 d:RegisteredOffice 2023-09-01 2024-08-31 05954848 d:Agent1 2023-09-01 2024-08-31 05954848 c:FreeholdInvestmentProperty 2023-09-01 2024-08-31 05954848 c:FreeholdInvestmentProperty 2024-08-31 05954848 c:FreeholdInvestmentProperty 2023-08-31 05954848 c:CurrentFinancialInstruments 2024-08-31 05954848 c:CurrentFinancialInstruments 2023-08-31 05954848 c:Non-currentFinancialInstruments 2024-08-31 05954848 c:Non-currentFinancialInstruments 2023-08-31 05954848 c:CurrentFinancialInstruments c:WithinOneYear 2024-08-31 05954848 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 05954848 c:Non-currentFinancialInstruments c:AfterOneYear 2024-08-31 05954848 c:Non-currentFinancialInstruments c:AfterOneYear 2023-08-31 05954848 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-08-31 05954848 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-08-31 05954848 c:ShareCapital 2024-08-31 05954848 c:ShareCapital 2023-08-31 05954848 c:RevaluationReserve 2024-08-31 05954848 c:RevaluationReserve 2023-08-31 05954848 c:RetainedEarningsAccumulatedLosses 2024-08-31 05954848 c:RetainedEarningsAccumulatedLosses 2023-08-31 05954848 c:AcceleratedTaxDepreciationDeferredTax 2024-08-31 05954848 c:AcceleratedTaxDepreciationDeferredTax 2023-08-31 05954848 d:OrdinaryShareClass1 2023-09-01 2024-08-31 05954848 d:OrdinaryShareClass1 2024-08-31 05954848 d:OrdinaryShareClass2 2023-09-01 2024-08-31 05954848 d:OrdinaryShareClass2 2024-08-31 05954848 d:FRS102 2023-09-01 2024-08-31 05954848 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05954848 d:FullAccounts 2023-09-01 2024-08-31 05954848 d:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05954848 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:shares xbrli:pure



Company Registration No. 05954848 (England and Wales)







SWEENEY ESTATES LIMITED

UNAUDITED
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

 
SWEENEY ESTATES LIMITED
 
 
COMPANY INFORMATION


Directors
J J Sweeney 
J P Sweeney 
P C Sweeney 




Registered number
05954848



Registered office
3 Conqueror Court
Spilsby Road

Harold Hill

Essex

RM3 8SB




Accountants
Riordan O'Sullivan & Co
Chartered Certified Accountants

40 Chamberlayne Road

London

NW10 3JE




Bankers
Lloyds Bank Plc
1-3 Market Place

Romford

RM1 3AA





 
SWEENEY ESTATES LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
SWEENEY ESTATES LIMITED
REGISTERED NUMBER:05954848

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment properties
 4 
11,871,151
11,638,955

  
11,871,151
11,638,955

Current assets
  

Debtors
 5 
19,388
15,128

Bank and cash balances
  
49,624
452,790

  
69,012
467,918

Creditors: amounts falling due within one year
 6 
(70,149)
(669,261)

Net current liabilities
  
 
 
(1,137)
 
 
(201,343)

Total assets less current liabilities
  
11,870,014
11,437,612

Creditors: amounts falling due after more than one year
 7 
(7,159,410)
(6,903,174)

Provisions for liabilities
  

Deferred tax
 9 
(788,006)
(788,006)

  
 
 
(788,006)
 
 
(788,006)

Net assets
  
3,922,598
3,746,432


Capital and reserves
  

Called up share capital 
 10 
100
100

Revaluation reserve
  
2,364,019
2,364,019

Profit and loss account
  
1,558,479
1,382,313

  
3,922,598
3,746,432


Page 1

 
SWEENEY ESTATES LIMITED
REGISTERED NUMBER:05954848
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

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.



___________________________
J P Sweeney
Director

Page 2

 
SWEENEY ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Sweeney Estates Limited is a private limited company limited by shares incorporated in England and Wales. The registered office is 3 Conqueror court, Spilsby Road, Harold Hill, Romford, 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 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.

 
2.3

Turnover

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

  
2.4

Foreign currency translation

Transactions in currency other than pounds sterling are recorded at the rates of exchange prevailing at the date of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SWEENEY ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 
2.7

Investment properties

Investment properties are carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable, real estate, adjusted if necessary for any difference in the nature, location or condition of the specified asset. No depreciation is provided. Changes in fair value are recognised in profit and loss.

 
2.8

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 3 (2023 - 3).

Page 4

 
SWEENEY ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Investment properties


Freehold investment properties

£



Valuation


At 1 September 2023
11,638,955


Additions at cost
232,196



At 31 August 2024
11,871,151

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





5.


Debtors

2024
2023
£
£

Other debtors
19,388
12,277

Accrued income
-
2,851

19,388
15,128



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
584,566

Corporation tax
51,514
46,405

Other taxation and social security
-
4,917

Other creditors
13,835
23,285

Accruals
4,800
10,088

70,149
669,261


Page 5

 
SWEENEY ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans (secured)
-
182,310

Amounts owed to related undertaking
7,159,410
6,720,864

7,159,410
6,903,174



8.


Bank loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Payable within 1 year
-
584,566

Payable after more than 1 year
-
182,310

-
766,876


The bank loan represents a mix of interest only and repayment mortgages. The banks have mortgage debentures over investment properties of the company

Page 6

 
SWEENEY ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Deferred taxation




2024


£



At beginning of year
788,006



At end of year
788,006

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment properties
788,006
788,006


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 A Ordinary share shares of £1.00 each
10
10
90  B Ordinary shares shares of £1.00 each
90
90

100

100



11.


Post balance sheet events

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


12.


Controlling party

The company is owned and controlled by the directors and their family members .

 
Page 7