Registered number
10745867
South Court Properties Ltd
Filleted Accounts
30 April 2024
South Court Properties Ltd
Registered number: 10745867
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 350,000 350,271
Current assets
Debtors 4 633 633
Cash at bank and in hand 1,625 932
2,258 1,565
Creditors: amounts falling due within one year 5 (1,749) (1,743)
Total assets less current liabilities 509 (178)
Total assets less current liabilities 350,509 350,093
Creditors: amounts falling due after more than one year 6 (306,593) (306,593)
Total assets less liabilites 43,916 43,500
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 59,758 59,758
Profit and loss account (15,844) (16,260)
Shareholder's funds 43,916 43,500
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Mead
Director
Approved by the board on 11 June 2025
South Court Properties Ltd
Notes to the Accounts
for the year ended 30 April 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20%
The directors have taken a revaluation approach on Freeholdy Property with no change in value in the year
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 current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 350,000 4,660 354,660
At 30 April 2024 350,000 4,660 354,660
Depreciation
At 1 May 2023 - 4,389 4,389
Charge for the year - 271 271
At 30 April 2024 - 4,660 4,660
Net book value
At 30 April 2024 350,000 - 350,000
At 30 April 2023 350,000 271 350,271
The rental property was revalued by KFH Estate Agents to £350,000 in the year to 30 April 2023
4 Debtors 2024 2023
£ £
Called up share capital not paid 2 2
Other debtors 631 631
633 633
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,749 1,743
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 213,561 213,561
Directors Loan 93,032 93,032
306,593 306,593
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 59,758 -
Gain on revaluation of land and buildings - 59,758
At 30 April 2024 59,758 59,758
8 Other information
South Court Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Mayfield Grange
Little Trodgers Lane
Mayfield
East Sussex
TN20 6BF
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