| SSR Estates Ltd |
| Registered number: |
08257568 |
| Balance Sheet |
| as at 31 March 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,129,642 |
|
|
1,129,642 |
|
| Current assets |
| Debtors |
3 |
|
641,152 |
|
|
653,161 |
| Cash at bank and in hand |
|
|
17,475 |
|
|
29,905 |
|
|
|
658,627 |
|
|
683,066 |
|
| Creditors: amounts falling due within one year |
4 |
|
(860,096) |
|
|
(900,238) |
|
| Net current liabilities |
|
|
|
(201,469) |
|
|
(217,172) |
|
| Total assets less current liabilities |
|
|
|
928,173 |
|
|
912,470 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(376,242) |
|
|
(402,259) |
|
| Provisions for liabilities |
|
|
|
(67,000) |
|
|
(67,000) |
|
|
| Net assets |
|
|
|
484,931 |
|
|
443,211 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
120 |
|
|
120 |
| Revaluation reserve |
6 |
|
|
335,000 |
|
|
335,000 |
| Profit and loss account |
|
|
|
149,811 |
|
|
108,091 |
|
| Shareholders' funds |
|
|
|
484,931 |
|
|
443,211 |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Mr C V Ganatra |
| Director |
| Approved by the board on 13 December 2019 |
|
| SSR Estates Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2019 |
|
|
| 1 |
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 (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the rents received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rents and from the rendering of services. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
20% straight line |
|
|
Investment Properties |
|
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The methods and significant assumptions used to acertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows: |
|
Properties are valued using open market valuation on freehold basis, conducted by the directors themselves. |
|
|
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. |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
Investment Properties |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2018 |
1,129,642 |
|
2,321 |
|
1,131,963 |
|
At 31 March 2019 |
1,129,642 |
|
2,321 |
|
1,131,963 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2018 |
- |
|
2,321 |
|
2,321 |
|
At 31 March 2019 |
- |
|
2,321 |
|
2,321 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2019 |
1,129,642 |
|
- |
|
1,129,642 |
|
At 31 March 2018 |
1,129,642 |
|
- |
|
1,129,642 |
|
|
|
|
|
|
|
|
|
|
The investment property held within the company was valued as at 31st March 2016 by the directors, who themselves have been involved in property developments in the recent past. The valuations were based on rental yeilds, and recent market values achieved on comparable properties in the immediate vicinity |
|
|
| 3 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
17,500 |
|
15,000 |
|
Other debtors |
623,652 |
|
638,161 |
|
|
|
|
|
|
641,152 |
|
653,161 |
|
|
|
|
|
|
|
|
|
|
Other debtors include amounts owed by SSR Developments Ltd, a company in which the directors have interest |
|
|
| 4 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Taxation and social security costs |
11,017 |
|
10,189 |
|
Director's current account |
833,972 |
|
875,109 |
|
Other creditors |
15,107 |
|
14,940 |
|
|
|
|
|
|
860,096 |
|
900,238 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Bank loans |
376,242 |
|
402,259 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by a fixed and floating charge over the present and future assets of the company. Interest is charged on bank loans at commercial rates |
|
| 6 |
Revaluation reserve |
2019 |
|
2018 |
| £ |
£ |
|
|
At 1 April 2018 |
335,000 |
|
335,000 |
|
|
At 31 March 2019 |
335,000 |
|
335,000 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
SSR Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
9a Sandy Lodge Road |
|
Rickmansworth |
|
WD3 1LP |
