| SRL Estates Ltd |
| Registered number: |
11165392 |
| Balance Sheet |
| as at 31 January 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investment property |
4 |
|
|
2,684,019 |
|
|
2,612,267 |
|
| Current assets |
| Debtors |
5 |
|
104,880 |
|
|
6,650 |
| Cash at bank and in hand |
|
|
689 |
|
|
467 |
|
|
|
105,569 |
|
|
7,117 |
|
| Creditors: amounts falling due within one year |
6 |
|
(709,814) |
|
|
(616,127) |
|
| Net current liabilities |
|
|
|
(604,245) |
|
|
(609,010) |
|
| Total assets less current liabilities |
|
|
|
2,079,774 |
|
|
2,003,257 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,854,379) |
|
|
(1,681,775) |
|
| Provisions for liabilities |
|
|
|
(66,349) |
|
|
(66,349) |
|
| Net assets |
|
|
|
159,046 |
|
|
255,133 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Fair value reserve |
9 |
|
|
199,046 |
|
|
199,046 |
| Profit and loss account |
|
|
|
(40,002) |
|
|
56,085 |
|
| Shareholder's funds |
|
|
|
159,046 |
|
|
255,133 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his 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. |
|
|
| Mr S R Lazenby |
| Director |
| Approved by the board on 31/10/2025. |
|
| SRL Estates Ltd |
| Notes to the Accounts |
| for the year ended 31 January 2025 |
|
|
| 1 |
Statutory information |
|
|
SRL Estates Ltd is a private company, limited by shares, registered in England and Wales. |
|
|
The company's registered number and registered office address are as below: |
|
|
Registered number: |
|
|
11165392 |
|
|
Registered office: |
|
|
Beech House |
|
|
|
|
78 Cleasby Road |
|
|
|
|
Menston |
|
|
|
|
Ilkley |
|
|
|
|
LS29 6HN |
|
|
The presentation currency of the financial statements is the Pound Sterling, which is the functional |
|
currency of the company, rounded to the nearest £1. |
|
|
| 2 |
Accounting policies |
|
|
Basis of preparation |
|
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" 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. |
|
|
Going concern |
|
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing the financial statements. |
|
|
Turnover |
|
Turnover represents rents received and receivable, excluding VAT. |
|
|
|
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. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Accounting policies (continued) |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
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. |
|
|
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
|
| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Investment property |
| Total |
| £ |
|
Fair value |
|
At 1 February 2024 |
2,612,267 |
|
Additions |
744,230 |
|
Disposals |
(672,478) |
|
|
At 31 January 2025 |
2,684,019 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 February 2024 |
2,346,873 |
|
At 31 January 2025 |
2,418,625 |
|
|
|
|
|
|
|
|
|
|
The investment property was valued on an open market basis on 31 January 2025 by the |
|
director. |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
630 |
|
- |
|
Other debtors |
104,250 |
|
6,650 |
|
|
|
|
|
|
104,880 |
|
6,650 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
5,443 |
|
11,186 |
|
Trade creditors |
88,489 |
|
80,064 |
|
Accruals and deferred income |
|
83,626 |
|
53,432 |
|
Director's current account |
|
|
|
|
465,471 |
|
431,795 |
|
Taxation and social security costs |
23,236 |
|
31,901 |
|
Other creditors |
43,549 |
|
7,749 |
|
|
|
|
|
|
709,814 |
|
616,127 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
1,854,379 |
|
1,681,775 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
1,851,510 |
|
1,650,387 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
1,852,883 |
|
1,680,852 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured over the properties to which they relate. |
|
|
| 9 |
Fair value reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 February 2024 |
199,046 |
|
260,734 |
|
Reserve transfer |
- |
|
(61,688) |
|
|
At 31 January 2025 |
199,046 |
|
199,046 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Related party transactions |
|
|
During the period £483,144 (2024: £398,353) was advanced from and £449,468 (2024: £293,060) was repaid to the director of the company. An amount of £465,471 (2024: £431,795) remained due to the director at the year end. |