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COMPANY REGISTRATION NUMBER: 05529848
S F Properties Limited
Filleted Unaudited Financial Statements
31 August 2024
S F Properties Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
502,581
502,618
Current assets
Debtors
5
2,311
2,038
Cash at bank and in hand
4,429
2,774
-------
-------
6,740
4,812
Creditors: amounts falling due within one year
6
440,265
391,803
---------
---------
Net current liabilities
433,525
386,991
---------
---------
Total assets less current liabilities
69,056
115,627
Creditors: amounts falling due after more than one year
7
47,257
--------
---------
Net assets
69,056
68,370
--------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
69,054
68,368
--------
--------
Shareholders funds
69,056
68,370
--------
--------
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.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
S F Properties Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 9 July 2025 , and are signed on behalf of the board by:
A Salmon
Director
Company registration number: 05529848
S F Properties Limited
Notes to the Financial Statements
Year ended 31 August 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 33 Dukes Close, Thurmaston, Leicester, LE4 8EY.
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, 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.
Revenue recognition
Turnover represents total value of amounts due in the year.
Income tax
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Investment properties
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023
502,546
1,072
503,618
Disposals
( 249)
( 249)
---------
-------
---------
At 31 August 2024
502,546
823
503,369
---------
-------
---------
Depreciation
At 1 September 2023
1,000
1,000
Charge for the year
18
18
Disposals
( 230)
( 230)
---------
-------
---------
At 31 August 2024
788
788
---------
-------
---------
Carrying amount
At 31 August 2024
502,546
35
502,581
---------
-------
---------
At 31 August 2023
502,546
72
502,618
---------
-------
---------
The directors consider that the investment properties are held at their fair value.
5. Debtors
2024
2023
£
£
Other debtors
2,311
2,038
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
47,413
3,132
Trade creditors
3,133
1,100
Corporation tax
170
1,521
Other creditors
389,549
386,050
---------
---------
440,265
391,803
---------
---------
Lloyds Bank PLC hold a legal charge secured on 14 Ridgmont Walk, Nottingham. The charge was registered on 17 December 2013. Lloyds TSB Bank PLC hold a legal charge secured on a small holding adjacent to 163 Mountsorrel Lane, Rothley, Leicester and plant and machinery. The charge was registered on 23 July 2008. Lloyds TSB Bank PLC hold a legal charge on all property and assets. The charge was registered on 12 June 2008. The above charges are included within bank loans and overdrafts.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
47,257
----
--------
Included within creditors: amounts falling due after more than one year is an amount of £Nil (2023: £34,729) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Lloyds Bank PLC hold a legal charge secured on 14 Ridgmont Walk, Nottingham. The charge was registered on 17 December 2013. Lloyds TSB Bank PLC hold a legal charge secured on a small holding adjacent to 163 Mountsorrel Lane, Rothley, Leicester and plant and machinery. The charge was registered on 23 July 2008. Lloyds TSB Bank PLC hold a legal charge on all property and assets. The charge was registered on 12 June 2008. The above charges are included within bank loans and overdrafts.
8. Directors' advances, credits and guarantees
At the balance sheet date the directors were owed £260,574 (2023: £260,574) by the company.
9. Related party transactions
The company received an interest free loan repayable on demand from a related party. At the balance sheet date, the company owed £127,031. (2023: £123,693).