Sensepark Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02497763

Sensepark Properties Limited

Unaudited Financial Statements

for the Year Ended 31 May 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Cooper

Y Cooper

SECRETARY:

Y Cooper

REGISTERED OFFICE:

1 Bell Street

2nd Floor

London

NW1 5BY

REGISTERED NUMBER:

02497763

ACCOUNTANTS:

DSJ Partners (UK) Limited

2nd Floor

1 Bell Street

London

NW1 5BY

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

300,000

300,000

300,000

300,000

CURRENT ASSETS

Debtors

6

7,849

7,025

Cash at bank

6,527

3,357

14,376

10,382

CREDITORS

Amounts falling due within one year

7

(38,943

)

(36,701

)

NET CURRENT LIABILITIES

(24,567

)

(26,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

275,433

273,681

CREDITORS

Amounts falling due after more than one year

8

(1,832

)

(8,437

)

PROVISIONS FOR LIABILITIES

(4,161

)

(4,161

)

NET ASSETS

269,440

261,083

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

161,796

161,796

Retained earnings

107,544

99,187

SHAREHOLDERS' FUNDS

269,440

261,083

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2021 and were signed on its behalf by:

Y Cooper - Director

1.	STATUTORY INFORMATION

Sensepark Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Bell Street, 2nd Floor, London, NW1 5BY.

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 represents amounts receivable for rent from letting of the company's investment properties.

Rent is recognised on an accrued basis, net of VAT.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially

recognised at cost, which includes the purchase cost and any directly attributable expenditure .

Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is

recognised in the profit and loss account.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

2,691

DEPRECIATION

At 1 June 2019

and 31 May 2020

2,691

NET BOOK VALUE

At 31 May 2020

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2019

and 31 May 2020

300,000

NET BOOK VALUE

At 31 May 2020

300,000

At 31 May 2019

300,000

Investment properties are annually valued by J S Cooper, a director and Chartered Surveyor, on an open

market value for existing use basis. The historical cost of the properties is £138,204 (2019: £138,204).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

6,918

6,214

Other debtors

931

811

7,849

7,025

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

13,768

6,829

Trade creditors

2,868

470

Taxation and social security

14,228

4,564

Other creditors

8,079

24,838

38,943

36,701

Included within other creditors is a loan which is secured by a fixed charge over the company's investment

property.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

1,832

8,437

The bank loan is secured by a fixed charge over the company's investment property.

9.	RELATED PARTY DISCLOSURES

During the year the company paid dividends totalling £1,800 (2019: £1,300) to Y Cooper, a director and sole shareholder of the company.

Included in other creditors is the amount of £2,650 (2019: £8,093) due to the directors of the company.

There are no terms as to interest or repayment in respect of this amount.