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COMPANY REGISTRATION NUMBER: 13555600
Sixth Continent Properties Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Sixth Continent Properties Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Sixth Continent Properties Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
750,000
Current assets
Debtors
5
7,470
100
Cash at bank and in hand
40,464
--------
----
47,934
100
Creditors: amounts falling due within one year
6
( 27,303)
--------
----
Net current assets
20,631
100
---------
----
Total assets less current liabilities
770,631
100
---------
----
Net assets
770,631
100
---------
----
Capital and reserves
Called up share capital
7
770,100
100
Profit and loss account
531
---------
----
Shareholder funds
770,631
100
---------
----
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 comprehensive income has not been delivered.
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.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sixth Continent Properties Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 23 June 2025 , and are signed on behalf of the board by:
Mr D P Davitt
Director
Company registration number: 13555600
Sixth Continent 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 and Wales. The address of the registered office is C/O Kidd Rapinet Llp, 29 Harbour Exchange Square, London, England, E14 9GE. The company commenced trading on 16 August 2024.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, other than investment properties measured at fair value through profit or loss. The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
Revenue recognition
The turnover shown in the income statement represents the rents receivable during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income. In this case, tax is recognised in other comprehensive income. 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.
Investment property
Investment property was acquired on 16 August 2024 under a group restructure process, at market value. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Tangible assets
Investment property
£
Cost
At 1 October 2023
Additions
750,000
---------
At 30 September 2024
750,000
---------
Depreciation
At 1 October 2023 and 30 September 2024
---------
Carrying amount
At 30 September 2024
750,000
---------
At 30 September 2023
---------
Included within the above is investment property as follows:
£
At 1 October 2023
Additions
750,000
---------
At 30 September 2024
750,000
---------
The investment property was acquired, under a group restructure process, in exchange for issue of ordinary shares. The investment property was acquired at amount valued by the directors. The valuation was based on the market value of property. The directors have reviewed the value of the investment property, at 30 September 2024, and confirm that this remains unchanged.
5. Debtors
2024
2023
£
£
Other debtors
7,470
100
-------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
27,303
--------
----
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
770,100
770,100
100
100
---------
---------
----
----
A further 770,000 Ordinary shares of £1 each were issued on 1 August 2024.