Company Registration No. SC406389 (Scotland)
SJM Properties Ltd
Unaudited accounts
for the year ended 31 August 2024
SJM Properties Ltd
Unaudited accounts
Contents
SJM Properties Ltd
Company Information
for the year ended 31 August 2024
Company Number
SC406389 (Scotland)
Registered Office
4th Floor
176 Bath Street
Glasgow
G24HG
Accountants
TaxKings Ltd
4th Floor, 176 Bath Street
Glasgow
G2 4HG
SJM Properties Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
2,655,109
1,995,838
Cash at bank and in hand
18,460
29,739
Creditors: amounts falling due within one year
(2,064,352)
(2,227,418)
Net current liabilities
(1,729,530)
(1,761,061)
Total assets less current liabilities
925,579
234,777
Creditors: amounts falling due after more than one year
(19,600)
(19,856)
Provisions for liabilities
Net assets
780,686
214,921
Called up share capital
1,000
1,000
Revaluation reserve
659,436
-
Profit and loss account
120,250
213,921
Shareholders' funds
780,686
214,921
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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and authorised for issue on 18 May 2025 and were signed on its behalf by
Steven Molina
Director
Company Registration No. SC406389
SJM Properties Ltd
Notes to the Accounts
for the year ended 31 August 2024
SJM Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC406389. The registered office is 4th Floor, 176 Bath Street, Glasgow, G24HG.
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.
These financial statements for the year ended 31 August 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At 1 September 2023
1,995,564
658
1,996,222
Revaluations
659,436
-
659,436
At 31 August 2024
2,655,000
658
2,655,658
At 1 September 2023
-
384
384
Charge for the year
-
165
165
At 31 August 2024
-
549
549
At 31 August 2024
2,655,000
109
2,655,109
At 31 August 2023
1,995,564
274
1,995,838
SJM Properties Ltd
Notes to the Accounts
for the year ended 31 August 2024
Amounts falling due within one year
Trade debtors
19,600
19,856
Other debtors
296,762
416,762
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
8,266
5,922
Loans from directors
2,056,086
2,221,496
7
Creditors: amounts falling due after more than one year
2024
2023
Trade creditors
19,600
19,856
8
Average number of employees
During the year the average number of employees was 2 (2023: 1).