S.R.N Properties Limited - Accounts to registrar (filleted) - small 18.2

S.R.N Properties Limited - Accounts to registrar (filleted) - small 18.2

S.R.N PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 01839182 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2020

for

S.R.N PROPERTIES LIMITED
S.R.N PROPERTIES LIMITED (REGISTERED NUMBER: 01839182)






Contents of the Financial Statements
for the Year Ended 31st March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.R.N PROPERTIES LIMITED

Company Information
for the Year Ended 31st March 2020







DIRECTOR: Mr R Lomas





SECRETARY: Mrs A Lomas





REGISTERED OFFICE: 7 Boxwood Drive
Blackburn
Lancashire
BB2 5AN





REGISTERED NUMBER: 01839182 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE
Page 1
S.R.N PROPERTIES LIMITED (REGISTERED NUMBER: 01839182)

Balance Sheet
31st March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 17,622 17,622

CURRENT ASSETS
Stocks 27,000 -
Debtors 5 - 171,980
Cash at bank and in hand 4,245 13,323
31,245 185,303
CREDITORS
Amounts falling due within one year 6 9,352 8,869
NET CURRENT ASSETS 21,893 176,434
TOTAL ASSETS LESS CURRENT
LIABILITIES
39,515
194,056

CREDITORS
Amounts falling due after more than one
year
7
209,600
209,600
NET LIABILITIES (170,085 ) (15,544 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (170,185 ) (15,644 )
SHAREHOLDERS' FUNDS (170,085 ) (15,544 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
S.R.N PROPERTIES LIMITED (REGISTERED NUMBER: 01839182)

Balance Sheet - continued
31st March 2020


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st March 2021 and were signed by:





Mr R Lomas - Director


The notes form part of these financial statements

Page 3
S.R.N PROPERTIES LIMITED (REGISTERED NUMBER: 01839182)

Notes to the Financial Statements
for the Year Ended 31st March 2020

1. STATUTORY INFORMATION

S.R.N 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are properties held to earn rentals, they are initially measured at cost, including transaction costs. Subsequently they are then measured at fair value on an open market basis. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value are included in the Statement of Income and Retained Earnings in the period in which they arise.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2019
and 31st March 2020 17,622
NET BOOK VALUE
At 31st March 2020 17,622
At 31st March 2019 17,622

Page 4 continued...
S.R.N PROPERTIES LIMITED (REGISTERED NUMBER: 01839182)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2020

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Other debtors - 171,980

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade creditors - 57
Directors' current accounts 8,392 8,392
Accruals and deferred income 960 420
9,352 8,869

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.20 31.3.19
£    £   
Other creditors 33,600 33,600
Directors' loan accounts 176,000 176,000
209,600 209,600

8. RELATED PARTY DISCLOSURES

At 31st March 2020 the company owed £184,392 to its directors (2019: £184,392). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan, £176,000 of the loan (2019; £176,000) is classified in creditors due after more than one year.

Page 5