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COMPANY REGISTRATION NUMBER: NI073363
Steepleview Properties Limited
Filleted Unaudited Financial Statements
28 August 2024
Steepleview Properties Limited
Statement of Financial Position
28 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
2,861
3,163
Investments
7
3
3
-------
-------
2,864
3,166
Current assets
Debtors
8
278,975
293,765
Cash at bank and in hand
66,686
34,532
---------
---------
345,661
328,297
Creditors: amounts falling due within one year
9
104,683
90,992
---------
---------
Net current assets
240,978
237,305
---------
---------
Total assets less current liabilities
243,842
240,471
Creditors: amounts falling due after more than one year
10
8,292
18,262
Provisions
Taxation including deferred tax
201
201
---------
---------
Net assets
235,349
222,008
---------
---------
Capital and reserves
Called up share capital
11
3
3
Profit and loss account
235,346
222,005
---------
---------
Shareholders funds
235,349
222,008
---------
---------
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 28 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Steepleview Properties Limited
Statement of Financial Position (continued)
28 August 2024
These financial statements were approved by the board of directors and authorised for issue on 6 June 2025 , and are signed on behalf of the board by:
Mr A Johnston
Director
Company registration number: NI073363
Steepleview Properties Limited
Notes to the Financial Statements
Year ended 28 August 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 2 Grove Road, Nutts Corner, Crumlin, County Antrim, BT29 4YY.
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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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:
Office equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
80,000
80,000
--------
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 30 August 2023
10,040
10,040
Additions
849
849
--------
--------
At 28 August 2024
10,889
10,889
--------
--------
Depreciation
At 30 August 2023
6,877
6,877
Charge for the year
1,151
1,151
--------
--------
At 28 August 2024
8,028
8,028
--------
--------
Carrying amount
At 28 August 2024
2,861
2,861
--------
--------
At 29 August 2023
3,163
3,163
--------
--------
7. Investments
Other investments other than loans
£
Cost
At 30 August 2023 and 28 August 2024
3
----
Impairment
At 30 August 2023 and 28 August 2024
----
Carrying amount
At 28 August 2024
3
----
At 29 August 2023
3
----
8. Debtors
2024
2023
£
£
Trade debtors
2,651
401
Amounts owed by group and related undertakings
127,109
120,309
Other debtors
149,215
173,055
---------
---------
278,975
293,765
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,969
9,988
Trade creditors
52
18
Amounts owed to group and related undertakings
6,510
11,960
Corporation tax
71,421
52,520
Social security and other taxes
13,586
13,456
Other creditors
3,145
3,050
---------
--------
104,683
90,992
---------
--------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,292
18,262
-------
--------
11. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
12. Director's advances, credits and guarantees
During the year the director repaid net loans to the company of £23,840 (2023: £3,830). At the balance sheet date £23,240 (2023: £47,080) remained outstanding from the director.
13. Related party transactions
The company was under the control of Mr A Johnston throughout the current year and previous year. Mr Johnston is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.