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Company registration number: 09796219
S N C Properties Limited
Unaudited filleted financial statements
30 September 2024
S N C Properties Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
S N C Properties Limited
Directors and other information
Director C Wakefield
Company number 09796219
Registered office 124-126 Church Hill
Loughton
Essex
IG10 1LH
Accountants Pollock Taylor Ltd
Chartered Certified Accountants
124-126 Church Hill
Loughton
Essex
IG10 1LH
S N C Properties Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 2,710,459 1,813,173
_________ _________
2,710,459 1,813,173
Current assets
Debtors 6 - 40,000
Cash at bank and in hand 41,695 155,251
_________ _________
41,695 195,251
Creditors: amounts falling due
within one year 7 ( 2,462,215) ( 1,804,623)
_________ _________
Net current liabilities ( 2,420,520) ( 1,609,372)
_________ _________
Total assets less current liabilities 289,939 203,801
_________ _________
Net assets 289,939 203,801
_________ _________
Capital and reserves
Called up share capital 100 100
Profit and loss account 289,839 203,701
_________ _________
Shareholders funds 289,939 203,801
_________ _________
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
C Wakefield
Director
Company registration number: 09796219
S N C Properties Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 124-126 Church Hill, Loughton, Essex, IG10 1LH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 October 2023 1,813,173 1,813,173
Additions 897,286 897,286
_________ _________
At 30 September 2024 2,710,459 2,710,459
_________ _________
Impairment
At 1 October 2023 and 30 September 2024 - -
_________ _________
Carrying amount
At 30 September 2024 2,710,459 2,710,459
_________ _________
At 30 September 2023 1,813,173 1,813,173
_________ _________
6. Debtors
2024 2023
£ £
Trade debtors - 40,000
_________ _________
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 25,954 25,003
Other creditors 2,436,261 1,779,620
_________ _________
2,462,215 1,804,623
_________ _________