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REGISTERED NUMBER: 00857186 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

SSS LETTINGS LTD

SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SSS LETTINGS LTD

Company Information
for the year ended 31 December 2024







DIRECTOR: S E L Benson





REGISTERED OFFICE: 8 Howard Road
Sompting
West Sussex
BN15 0LW





REGISTERED NUMBER: 00857186 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)

Balance Sheet
31 December 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 778 4,544
Investment property 5 1,533,138 1,000,000
1,533,916 1,004,544

CURRENT ASSETS
Stocks - 89,000
Debtors 6 502 2,850
Cash at bank and in hand 37,455 370
37,957 92,220
CREDITORS
Amounts falling due within one year 7 (308,864 ) (145,453 )
NET CURRENT LIABILITIES (270,907 ) (53,233 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,263,009

951,311

PROVISIONS FOR LIABILITIES 8 (235,000 ) (235,000 )
NET ASSETS 1,028,009 716,311

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,027,909 716,211
SHAREHOLDERS' FUNDS 1,028,009 716,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 June 2025 and were signed by:





S E L Benson - Director


SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Speedy Spares Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Sales of motor parts are recognised at the point of sale, excluding discounts, rebates, value added tax and other sales taxes, when the fair value of consideration is received or is receivable.

Rental income represents the fair value of consideration received or receivable net of VAT and rental income is recognised on an accruals basis.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery-25% on reducing balance
Computer equipment-33% on cost

The cost of freehold property has not been depreciated.

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid, the company has no further payment obligations.

The contributions are recognised as an expenses in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company is independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£ £ £ £
COST
At 1 January 2024 4,294 445 - 4,739
Additions - - 881 881
Disposals (4,294 ) - - (4,294 )
At 31 December 2024 - 445 881 1,326
DEPRECIATION
At 1 January 2024 - 195 - 195
Charge for year - 62 291 353
At 31 December 2024 - 257 291 548
NET BOOK VALUE
At 31 December 2024 - 188 590 778
At 31 December 2023 4,294 250 - 4,544

SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2024 1,000,000
Additions 533,138
At 31 December 2024 1,533,138
NET BOOK VALUE
At 31 December 2024 1,533,138
At 31 December 2023 1,000,000

Fair value at 31 December 2024 is represented by:
£
Valuation in 2020 590,000
Valuation in 2021 350,000
Cost 593,138
1,533,138

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 502 2,850

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts - 18,809
Trade creditors - 10,184
Taxation and social security 18,973 3,880
Other creditors 289,891 112,580
308,864 145,453

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 235,000 235,000

Deferred tax
£
Balance at 1 January 2024 235,000
Balance at 31 December 2024 235,000

SSS LETTINGS LTD (REGISTERED NUMBER: 00857186)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary shares £1.00 100 100