Sjm Properties (Amberley) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10222300 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

FOR

SJM PROPERTIES (AMBERLEY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S J Martin

REGISTERED OFFICE:

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

BUSINESS ADDRESS:

The Conifers

Culver Hill

Amberley

Stroud

Gloucestershire

GL5 5BB

REGISTERED NUMBER:

10222300 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

650

-

Investment property

5

2,054,000

-

2,054,650

-

CURRENT ASSETS

Debtors

6

7,374

-

Cash at bank

114,568

128,854

121,942

128,854

CREDITORS

Amounts falling due within one year

7

353,260

210,844

NET CURRENT LIABILITIES

(231,318

)

(81,990

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,823,332

(81,990

)

CREDITORS

Amounts falling due after more than one year

8

(257,497

)

-

PROVISIONS FOR LIABILITIES

(123,484

)

-

NET ASSETS/(LIABILITIES)

1,442,351

(81,990

)

CAPITAL AND RESERVES

Called up share capital

1,514,461

1

Retained earnings

(72,110

)

(81,991

)

1,442,351

(81,990

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 March 2019 and were signed by:

Mrs S J Martin - Director

1.	STATUTORY INFORMATION

Sjm Properties (Amberley) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 rent received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Revenue is recognised on a straight line basis over the term of the lease.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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.

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102

Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

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.

Going concern

The director has assessed the going concern status of the company and has determined that there are no

material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

The company has the full continuing backing from the director who will continue to support the company.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the

balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where

material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

895

At 30 June 2018

895

DEPRECIATION

Charge for year

245

At 30 June 2018

245

NET BOOK VALUE

At 30 June 2018

650

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,999,892

Disposals

(50,000

)

Revaluations

104,108

At 30 June 2018

2,054,000

NET BOOK VALUE

At 30 June 2018

2,054,000

Fair value at 30 June 2018 is represented by:

£

Valuation in 2017

104,108

Cost

1,949,892

2,054,000

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

2018

2017

£

£

Cost

1,949,892

1,949,892

Investment property was valued on an open market basis on 31 October 2017 by Andrew Forbes .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,574

-

Other debtors

4,800

-

7,374

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

15,610

-

Trade creditors

1,727

-

Corporation Tax

7,416

-

VAT

2,220

-

Other creditors

8,948

-

Company Credit Cards

90

-

Directors' loan accounts

311,293

210,344

Deferred income

4,800

-

Accrued expenses

1,156

500

353,260

210,844

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 2-5 years

62,442

-

Bank loans

195,055

-

257,497

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

195,055

-

9.	SECURED DEBTS

There have been multiple charges registered at Companies House in the year which relate to the properties

owned by the company.

Lloyds Bank PLC are the entity entitled to all charges set up at Companies House. All charges contain both fixed

and floating charges, all contain negative pledges and the floating charges cover all the property or undertaking

of the company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 June 2018 and the period

ended 30 June 2017:

2018

2017

£

£

Mrs S J Martin

Balance outstanding at start of year

(210,344

)

-

Amounts advanced

35,071

-

Amounts repaid

(136,020

)

(210,344

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(311,293

)

(210,344

)

No interest has been charged on the balance and there are no set repayment terms.