REGISTERED NUMBER: 05049037 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

SEV Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs D K Kang

SECRETARY:

S S Kang

REGISTERED OFFICE:

The Woodlands

70a Pastures Hill

Littleover

Derby

DE23 4BB

REGISTERED NUMBER:

05049037 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

4

1

1

Investment property

5

100,000

100,000

100,001

100,001

CURRENT ASSETS

Debtors

6

366

89

Cash at bank

1,937

3,188

2,303

3,277

CREDITORS

Amounts falling due within one year

7

69,979

64,637

NET CURRENT LIABILITIES

(67,676

)

(61,360

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,325

38,641

CREDITORS

Amounts falling due after more than one year

8

20,509

25,460

NET ASSETS

11,816

13,181

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

10

13,738

13,738

Retained earnings

(1,923

)

(558

)

SHAREHOLDERS' FUNDS

11,816

13,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2025 and were signed by:

Mrs D K Kang - Director

1.	STATUTORY INFORMATION

SEV Properties 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 represents amounts invoiced during the year for rent receivable on investment properties. Rental income is accounted for in the year in which the property is rented.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Investment property

Investment property is not depreciated but is revalued annually at its market value in accordance with Section 1A "Small Entities' of Financial Reporting Standard 102. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account and transferred to a fair value reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2024

and 28 February 2025

675

DEPRECIATION

At 1 March 2024

and 28 February 2025

674

NET BOOK VALUE

At 28 February 2025

1

At 29 February 2024

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

100,000

NET BOOK VALUE

At 28 February 2025

100,000

At 29 February 2024

100,000

Fair value at 28 February 2025 is represented by:

£

Valuation in 2025

100,000

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

2025

2024

£

£

Cost

86,262

86,262

Aggregate depreciation

(36,225

)

(34,500

)

Investment property was valued on a fair value basis on 28 February 2025 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments

366

89

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Mortgage

4,808

4,765

Trade creditors

-

1,254

Owed to related party

8,872

6,382

Director's current account

54,918

50,909

Accrued expenses

1,381

1,327

69,979

64,637

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Mortgage - 1 - 2 years

5,207

5,097

Mortgage - 2 - 5 years

15,302

17,522

Mortgage - more than 5 years

-

2,841

20,509

25,460

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Mortgage - more than 5 years

-

2,841

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Mortgage

25,317

30,225

10.

RESERVES

Fair

value

reserve

£

At 1 March 2024

and 28 February 2025

13,738