SECOND HAND PROPERTIES LIMITED

Registered number

09945568

Filleted Accounts

31 January 2025

SECOND HAND PROPERTIES LIMITED
Registered number:		09945568
Balance Sheet
as at 31 January 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		304,195			337,995

Creditors: amounts falling due within one year	4	(3,750)			(3,750)

Net current liabilities			(3,750)			(3,750)

Total assets less current liabilities			300,445			334,245

Creditors: amounts falling due after more than one year	5		(1,280,976)			(1,280,461)



Net liabilities			(980,531)			(946,216)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(980,631)			(946,316)

Shareholders' funds			(980,531)			(946,216)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Zana Morris
Director
Approved by the board on 2 October 2025

SECOND HAND PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 January 2025


1	Accounting policies

	Financial instruments
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

	Classification of financial liabilities
	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 company after deducting all of its liabilities.

	Fixed asset Investments
	At 31 January 2024 the investment was carried at £337,995. At the date of approval of the 2025 financial statements, there remains uncertainty regarding the amount of capital, if any, that will be repaid to the company in respect of this investment. In the absence of reliable evidence from the LLP or its liquidators, the directors have applied a prudent estimate that only 10% of the 2024 carrying value is recoverable. Accordingly, the investment has been written down by £33,800 as at 31 January 2025.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one yearor less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	1		1


3	Movements in fixed asset investments			£
				Shares in associates

	Cost
	At 1 February 2024			337,995
	At 31 January 2025			337,995

	Valuation changes
	Provided during the year			33,800
	At 31 January 2025			33,800

	Net book value
	At 31 January 2025			304,195
	At 31 January 2024			337,995

	The investment has been written down by 10% of its value at 1 February 2024. At the date of approval of these financial statements, the director confirms that there remains uncertainty regarding the amount of capital that may ultimately be repaid to the company in respect of its former interest in Lightstone Wimpole Street LLP.



4	Creditors: amounts falling due within one year	2025		2024
£			£

	Bank loans and overdrafts	3,750		3,750


5	Creditors: amounts falling due after one year	2025		2024
£			£

	Bank loans	109,063		109,063
	Trade creditors	-		313
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,171,398		1,171,085
	Other creditors	515		-
		1,280,976		1,280,461


6	Other information

	SECOND HAND PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Rdp Newmans, Lynwood House
	375 Station Road
	Harrow, Middlesex
	HA1 2AW