Setford Property Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12385780 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Setford Property Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J Setford

REGISTERED OFFICE:

27 Northney Road

Hayling Island

Hampshire

PO11 0ND

REGISTERED NUMBER:

12385780 (England and Wales)

ACCOUNTANTS:

AM-PM Accounting Solutions Limited

Building 6000

Langstone Technology Park

Langstone Road

Havant

Hampshire

PO9 1SA

FIXED ASSETS

Investment property

4

250,000

254,000

CURRENT ASSETS

Debtors

1,263

Cash at bank

5,059

5,699

6,322

6,962

CREDITORS

Amounts falling due within one year

63,237

62,970

NET CURRENT LIABILITIES

(56,915

)

(56,008

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

193,085

197,992

CREDITORS

Amounts falling due after more than one year

(150,995

)

(150,995

)

PROVISIONS FOR LIABILITIES

(6,236

)

(6,996

)

NET ASSETS

35,854

40,001

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

6

26,825

30,825

Retained earnings

6

8,929

9,076

35,854

40,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

Mrs J Setford - Director

1.	STATUTORY INFORMATION

Setford Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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 1 (2023 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

254,000

Impairments

(4,000

)

At 31 December 2024

250,000

NET BOOK VALUE

At 31 December 2024

250,000

At 31 December 2023

254,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2020

216,179

Valuation in 2021

24,821

Valuation in 2022

21,000

Valuation in 2023

(8,000

)

Valuation in 2024

(4,000

)

Cost

216,179

466,179

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

216,179

Investment Property was valued on an open market basis on 31 December 2023 by Zoopla Ltd .

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

150,995

The bank loan has been secured against the investment property within the business.

6.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 January 2024

9,076

30,825

39,901

Profit for the year

853

Dividends

(5,000

)

(5,000

)

Revaluation reserve

4,000

(4,000

)

-

At 31 December 2024

8,929

26,825

35,754

7.	RELATED PARTY DISCLOSURES

Included within other creditors is a loan balance totalling £61,093 (2023 £60,254) owed to Mrs J Setford, the director. This loan was not overdrawn during the year and is provided interest free and repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs J Setford.