REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2025 |
for |
SJW Property Venture Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2025 |
for |
SJW Property Venture Ltd. |
SJW Property Venture Ltd. (Registered number: SC556478) |
Contents of the Financial Statements |
for the Year Ended 28 February 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SJW Property Venture Ltd. |
Company Information |
for the Year Ended 28 February 2025 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
KA9 2PB |
SJW Property Venture Ltd. (Registered number: SC556478) |
Balance Sheet |
28 February 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SJW Property Venture Ltd. (Registered number: SC556478) |
Balance Sheet - continued |
28 February 2025 |
The financial statements were approved by the director and authorised for issue on |
SJW Property Venture Ltd. (Registered number: SC556478) |
Notes to the Financial Statements |
for the Year Ended 28 February 2025 |
1. | STATUTORY INFORMATION |
SJW Property Venture Ltd. is a |
The presentation 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern |
The company relies on internal borrowing from a related party for day to day working capital requirements and the acquisition and development of investment property. After making the appropriate enquiries, the director is confident that existing facilities will remain in place for the foreseeable future. On this basis, the director considers it appropriate that the accounts are prepared on a going concern basis. |
Turnover/revenue recognition |
Sales comprise rents received in the ordinary course of the company's activities. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost less depreciation. |
Impairment of fixed assets |
At each reporting date, the company reviews the carrying amounts of its fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Investment property |
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Any surplus or deficit on revaluation is recognised in profit or loss. |
SJW Property Venture Ltd. (Registered number: SC556478) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities: |
Loans and other receivables |
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses. |
Other financial liabilities |
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value. |
Impairment of financial instruments |
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SJW Property Venture Ltd. (Registered number: SC556478) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2024 |
and 28 February 2025 |
DEPRECIATION |
At 1 March 2024 |
Charge for year |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2024 |
and 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
It is the director's view that the carrying value of the investment property, being original cost, does not differ materially from its fair value at the balance sheet date. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Amounts owed to associates | 170,100 | 170,100 |
SJW Property Venture Ltd. (Registered number: SC556478) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
8. | RELATED PARTY DISCLOSURES |
As at 28 February 2025 an amount of £170,100 (2024: £170,100) is due to WardEng Limited, a company under the control of the director, S Warden.This loan is unsecured, interest free and has no fixed repayment terms. |
The company also operates a loan account with the director. At the year end, £2,287 (2024: £3,322) was due to the director by the company. This loan is unsecured, interest free and has no fixed repayment terms. |
9. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the director due to her 51% shareholding in the company. |