ACCOUNTS - Final Accounts preparation

Registered number: 13438791

SUSSEX PROPERTY LETS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2026

SUSSEX PROPERTY LETS LTD

REGISTERED NUMBER: 13438791

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2026

		2026		2025
Note		£		£

Fixed assets
Investments	4		3,592,112		3,592,112
			3,592,112		3,592,112
Current assets
Bank and cash balances		47,342		47,743
		47,342		47,743
Creditors: amounts falling due within one year	5	(24,382)		(19,528)
Net current assets			22,960		28,215
Total assets less current liabilities			3,615,072		3,620,327
Creditors: amounts falling due after more than one year	6		(3,615,081)		(3,631,522)

Net liabilities			(9)		(11,195)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(11)	(11,197)
	(9)	(11,195)

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SUSSEX PROPERTY LETS LTD

REGISTERED NUMBER: 13438791

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JUNE 2026

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr R M R Bahnam

Director

Date: 28 July 2026

The notes on pages 3 to 5 form part of these financial statements.

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SUSSEX PROPERTY LETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

1.	General information

Sussex Property Lets Ltd is a private company, limited by share capital, incorporated in England & Wales under registration number 13438791. The address of the registered office is situated at 24a The Cliff, Brighton, BN2 5RE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on the assumption that the company will have the continued financial support of the shareholders. The shareholders of the company have sufficient resources to finance the company as and when the need arises.
The financial statements have been prepared on a going concern basis which is dependent on the financial support of the shareholders to ensure that the company will continue in operational existence for the foreseeable future.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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SUSSEX PROPERTY LETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2025 - 2).

4.	Fixed asset investments

		Investment properties
		£
	Cost or valuation
	At 1 July 2025	3,592,112
	At 30 June 2026	3,592,112

In the opinion of the directors', the aggregate open market value of the properties owned by the company at the year end is £3,592,112 (2025 - £3,592,112), the value shown in the accounts.

5.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Rent deposits	6,927	7,018
Rent received in advance	10,180	10,710
Accruals and deferred income	7,275	1,800
	24,382	19,528

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SUSSEX PROPERTY LETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

6.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans	2,430,100	2,430,100
Directors' loan account	1,184,981	1,201,422
	3,615,081	3,631,522

The bank loans are secured by a fixed and floating charge over the assets of the company.

7.	Controlling party

The company was under the control of Mr R M R Bahnam and Mrs B S Elia Elia, by virtue of the fact that between them they own 100% of the issued share capital of the company.

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