Suhu Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05006759 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2021

for

Suhu Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H G F Pead

Mrs S V Pead

SECRETARY:

H G F Pead

REGISTERED OFFICE:

Bramleys

3 Silvertrees

Emsworth

Hampshire

PO10 7ST

REGISTERED NUMBER:

05006759 (England and Wales)

ACCOUNTANTS:

Ency Associates

Chartered Certified Accountants

Printware Court

Cumberland Business Centre

Northumberland Road

Portsmouth

Hampshire

PO5 1DS

FIXED ASSETS

Tangible assets

4

530

-

Investment property

5

1,521,874

1,296,000

1,522,404

1,296,000

CURRENT ASSETS

Debtors

6

1,481

1,203

Cash at bank

8,349

329

9,830

1,532

CREDITORS

Amounts falling due within one year

7

11,360

10,865

NET CURRENT LIABILITIES

(1,530

)

(9,333

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,520,874

1,286,667

CREDITORS

Amounts falling due after more than one year

8

(833,218

)

(656,103

)

PROVISIONS FOR LIABILITIES

(66,998

)

(64,623

)

NET ASSETS

620,658

565,941

CAPITAL AND RESERVES

Called up share capital

600

102

Retained earnings

620,058

565,839

SHAREHOLDERS' FUNDS

620,658

565,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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 14 May 2021 and were signed on its behalf by:

H G F Pead - Director

Mrs S V Pead - Director

1.	STATUTORY INFORMATION

Suhu Properties Ltd 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 the gross rent received from the investment properties.

Tangible fixed assets

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

Fixtures & fittings

-

25% on reducing balance

Investment property

In accordance with FRS 102, investment properties are included at the fair value of the investment properties with the aggregate surplus or deficit from the purchase price being transferred to the profit or loss account as non distributable income.

No depreciation is provided in respect of investment properties as this is no longer required in achieving a true and fair view under FRS 102.

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 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

& fittings

£

COST

Additions

707

At 31 January 2021

707

DEPRECIATION

Charge for year

177

At 31 January 2021

177

NET BOOK VALUE

At 31 January 2021

530

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2020

1,296,000

Additions

213,374

Revaluations

12,500

At 31 January 2021

1,521,874

NET BOOK VALUE

At 31 January 2021

1,521,874

At 31 January 2020

1,296,000

Fair value at 31 January 2021 is represented by:

£

Valuation in 2015

85,331

Valuation in 2017

159,619

Valuation in 2018

225,000

Valuation in 2019

(6,500

)

Valuation in 2020

22,500

Valuation in 2021

12,500

Cost

1,023,424

1,521,874

If the investment properties had not been revalued they would have been included at the following historical cost:

31.1.21

31.1.20

£

£

Cost

1,023,423

810,050

Aggregate depreciation

(140,884

)

(120,416

)

The investment properties were valued on an open market basis on 31 January 2021 by Mr HGF Pead .

The valuations shown as 2015 reflected the total valuations up to that time.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Other debtors

1,481

1,203

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Taxation and social security

10,219

9,760

Other creditors

1,141

1,105

11,360

10,865

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Other creditors

833,218

656,103

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the current and previous year.