Second City Housing Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10395631 (England and Wales)

Financial Statements for the Year Ended 30 September 2021

for

Second City Housing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D G Davey

REGISTERED OFFICE:

6 Well Street

Birmingham

B19 3BG

REGISTERED NUMBER:

10395631 (England and Wales)

ACCOUNTANTS:

Harish Kumar ACCA

HR Accountants

149 Spon Lane

West Bromwich

West Midlands

B70 6AS

FIXED ASSETS

Tangible assets

4

147,993

55,759

CURRENT ASSETS

Debtors

5

1,368,435

439,102

Cash at bank and in hand

387,194

103,742

1,755,629

542,844

CREDITORS

Amounts falling due within one year

6

170,053

201,615

NET CURRENT ASSETS

1,585,576

341,229

TOTAL ASSETS LESS CURRENT LIABILITIES

1,733,569

396,988

CREDITORS

Amounts falling due after more than one year

7

1,012,105

-

NET ASSETS

721,464

396,988

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

8

721,463

396,987

721,464

396,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 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 13 June 2022 and were signed by:

D G Davey - Director

1.	STATUTORY INFORMATION

Second City Housing 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.

Turnover

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

Tangible fixed assets

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2020 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

65,825

Additions

110,078

At 30 September 2021

175,903

DEPRECIATION

At 1 October 2020

10,066

Charge for year

17,844

At 30 September 2021

27,910

NET BOOK VALUE

At 30 September 2021

147,993

At 30 September 2020

55,759

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

415,945

345,498

Other debtors

952,490

93,604

1,368,435

439,102

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

-

50,000

Trade creditors

-

1

Taxation and social security

168,302

122,599

Other creditors

1,751

29,015

170,053

201,615

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans

1,012,105

-

Amounts falling due in more than five years:

Repayable by instalments

Kulvinder Sidhu- Loan

250,000

-

8.

RESERVES

Retained

earnings

£

At 1 October 2020

396,987

Profit for the year

324,476

At 30 September 2021

721,463