REGISTERED NUMBER: 04651233 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

SOMERCHURCH PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P A Bellshaw

Mr P Kerins

Mrs L Kerins

Mrs M Bellshaw

SECRETARY:

Mr P A Bellshaw

REGISTERED OFFICE:

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

REGISTERED NUMBER:

04651233 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

5

49

58

Investment property

6

435,750

435,750

435,799

435,808

CURRENT ASSETS

Debtors

7

1,768

1,768

Prepayments and accrued income

1,063

1,045

Cash at bank

1,999

2,205

4,830

5,018

CREDITORS

Amounts falling due within one year

8

24,277

23,794

NET CURRENT LIABILITIES

(19,447

)

(18,776

)

TOTAL ASSETS LESS CURRENT LIABILITIES

416,352

417,032

CREDITORS

Amounts falling due after more than one year

9

(110,907

)

(120,423

)

PROVISIONS FOR LIABILITIES

(10,249

)

(10,249

)

ACCRUALS AND DEFERRED INCOME

(1,308

)

(1,308

)

NET ASSETS

293,888

285,052

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

144,735

144,735

Retained earnings

149,053

140,217

SHAREHOLDERS' FUNDS

293,888

285,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th August 2025 and were signed on its behalf by:

Mr P A Bellshaw - Director

Mr P Kerins - Director

1.	STATUTORY INFORMATION

Somerchurch Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04651233 and it's registered office address is Newport House, Newport Road, Stafford, ST16 1DA.

The principal activity of the company is property investment.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Functional currency

The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities, accruals and impairment are its critical accounting estimates.

Turnover

Turnover represents rent receivable from property lettings and is recognised in the period to which the rent relates. Rents due but unpaid at the year end are shown in debtors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value are valued at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an ongoing basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st April 2024

and 31st March 2025

1,695

DEPRECIATION

At 1st April 2024

1,637

Charge for year

9

At 31st March 2025

1,646

NET BOOK VALUE

At 31st March 2025

49

At 31st March 2024

58

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

435,750

NET BOOK VALUE

At 31st March 2025

435,750

At 31st March 2024

435,750

If investment property hadn't been revalued it would've been included at the following historical cost, £279,318 and aggregate depreciation £nil.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,768

1,768

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,342

10,769

Taxation and social security

2,543

2,525

Other creditors

12,392

10,500

24,277

23,794

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

110,907

120,423

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

120,249

131,192

The bank loan is secured by charges over the investment properties and over the company.