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COMPANY REGISTRATION NUMBER: 09449212
S A M HARPER PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
S A M HARPER PROPERTY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Contents
Pages
Officers and professional advisers
1
Directors' report
2
Statement of comprehensive income
3
Statement of financial position
4 to 5
Statement of changes in equity
6
Notes to the financial statements
7 to 10
The following pages do not form part of the financial statements
Report to the board of directors on the preparation of the unaudited statutory financial statements
12
S A M HARPER PROPERTY LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mr M T Harper
Mr S E Harper
Company secretary
Speafi Secretarial Limited
Registered office
1 London Street
Reading
RG1 4PN
Accountants
Sawford Bullard
Accountants
The Old Mill
Blisworth Hill Farm
Stoke Road
Blisworth
Northampton
NN7 3DB
Bankers
Handlesbanken
2nd Floor
Moorgate House
201 Silbury Boulevard
Milton Keynes
MK9 1LZ
S A M HARPER PROPERTY LIMITED
DIRECTORS' REPORT
YEAR ENDED 31 DECEMBER 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .
Directors
The directors who served the company during the year were as follows:
Mr M T Harper
Mr S E Harper
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 June 2025 and signed on behalf of the board by:
Mr M T Harper
Director
S A M HARPER PROPERTY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 31 DECEMBER 2024
2024
2023
Note
£
£
Turnover
213,627
124,549
---------
---------
Gross profit
213,627
124,549
Administrative expenses
35,889
93,261
---------
---------
Operating profit
177,738
31,288
Interest payable and similar expenses
35,171
36,377
---------
---------
Profit/(loss) before taxation
4
142,567
( 5,089)
Tax on profit/(loss)
36,294
( 2,205)
---------
-------
Profit/(loss) for the financial year
106,273
( 2,884)
---------
-------
Revaluation of tangible assets
701,753
---------
-------
Total comprehensive income for the year
808,026
( 2,884)
---------
-------
All the activities of the company are from continuing operations.
S A M HARPER PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,722,607
1,467,469
Current assets
Debtors
6
63,664
75,178
Cash at bank and in hand
153,419
18,393
---------
--------
217,083
93,571
Creditors: amounts falling due within one year
7
927,011
565,114
---------
---------
Net current liabilities
709,928
471,543
------------
------------
Total assets less current liabilities
2,012,679
995,926
Creditors: amounts falling due after more than one year
8
809,293
833,699
Provisions
Taxation including deferred tax
235,864
2,731
------------
---------
Net assets
967,522
159,496
------------
---------
Capital and reserves
Called up share capital
30,000
30,000
Revaluation reserve
710,057
8,304
Profit and loss account
227,465
121,192
---------
---------
Shareholders funds
967,522
159,496
---------
---------
These financial statements have been prepared 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'.
For the year ending 31 December 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 A M HARPER PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 30 June 2025 , and are signed on behalf of the board by:
Mr M T Harper
Director
Company registration number: 09449212
S A M HARPER PROPERTY LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 DECEMBER 2024
Called up share capital
Revaluation reserve
Profit and loss account
Total
Note
£
£
£
£
At 1 January 2023
30,000
8,304
124,076
162,380
Loss for the year
( 2,884)
( 2,884)
--------
-------
---------
---------
Total comprehensive income for the year
( 2,884)
( 2,884)
At 31 December 2023
30,000
8,304
121,192
159,496
Profit for the year
106,273
106,273
Other comprehensive income for the year:
Revaluation of tangible assets
5
701,753
701,753
--------
---------
---------
---------
Total comprehensive income for the year
701,753
106,273
808,026
--------
---------
---------
---------
At 31 December 2024
30,000
710,057
227,465
967,522
--------
---------
---------
---------
S A M HARPER PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 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 1 London Street, Reading, RG1 4PN.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
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 or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and Machinery
-
25% straight line
Fixtures and Fittings
-
25% straight line
Equipment
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial 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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
3,140
2,990
-------
-------
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Investment property
Total
£
£
£
£
£
£
Cost or valuation
At 1 Jan 2024
123,800
2,893
3,859
12,607
1,340,529
1,483,688
Additions
1,200
322,608
323,808
Revaluations
934,470
934,470
---------
-------
-------
--------
------------
------------
At 31 Dec 2024
125,000
2,893
3,859
12,607
2,597,607
2,741,966
---------
-------
-------
--------
------------
------------
Depreciation
At 1 Jan 2024
2,170
2,894
11,155
16,219
Charge for the year
723
965
1,452
3,140
---------
-------
-------
--------
------------
------------
At 31 Dec 2024
2,893
3,859
12,607
19,359
---------
-------
-------
--------
------------
------------
Carrying amount
At 31 Dec 2024
125,000
2,597,607
2,722,607
---------
-------
-------
--------
------------
------------
At 31 Dec 2023
123,800
723
965
1,452
1,340,529
1,467,469
---------
-------
-------
--------
------------
------------
The investment properties and land were revalued in year on a market value basis assuming vacant possession. The valuation was prepared by Underwoods, a RICS member.
6. Debtors
2024
2023
£
£
Trade debtors
26,111
74,674
Other debtors
37,553
504
--------
--------
63,664
75,178
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
24,406
24,406
Trade creditors
33,399
22,375
Corporation tax
37,079
480
Social security and other taxes
503
5,899
Other creditors
831,624
511,954
---------
---------
927,011
565,114
---------
---------
The bank loan is secured by way of a charge over the company's land.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
409,175
433,581
Other creditors
400,118
400,118
---------
---------
809,293
833,699
---------
---------
The bank loan is secured by way of a charge over the company's land.
Within other creditors is a loan of £400,118 which is secured by way of a charge over the company's land.
S A M HARPER PROPERTY LIMITED
MANAGEMENT INFORMATION
YEAR ENDED 31 DECEMBER 2024
The following pages do not form part of the financial statements.
S A M HARPER PROPERTY LIMITED
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF S A M HARPER PROPERTY LIMITED
YEAR ENDED 31 DECEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S A M Harper Property Limited for the year ended 31 December 2024, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Sawford Bullard Accountants
The Old Mill Blisworth Hill Farm Stoke Road Blisworth Northampton NN7 3DB
30 June 2025