Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 600,000 | 600,000 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 358,221 | 17,022 | |||
| Creditors: amounts falling due within one year | 5 | (
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(
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| Net current liabilities | (351,434) | (375,932) | ||
| Total assets less current liabilities | 248,566 | 224,068 | ||
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account | 7 |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of SSS Property Empire Limited (registered number:
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L L Hudson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
SSS Property Empire Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 54 Strathearn Avenue, Twickenham, TW2 6JX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 November 2023 |
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| As at 31 October 2024 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to Group undertakings |
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| Taxation and social security |
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| Other creditors |
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Other related party transactions
The company has taken advantage of the exemption in FRS 102 1A from disclosing transactions with other members of
the group.
The profit and loss account includes £146,735 (2023: £146,735) of non-distributable reserves relating to the fair value
movements of investment properties.