Seraph Freeholdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05891053 (England and Wales)

SERAPH FREEHOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Haig

REGISTERED OFFICE:

1 St Martin's Row

Albany Road

Cardiff

South Glamorgan

CF24 3RP

REGISTERED NUMBER:

05891053 (England and Wales)

ACCOUNTANTS:

Green & Co

Chartered Certified Accountants

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Tangible assets

4

2,376,651

1,749,422

Investments

5

1,000

1,000

2,377,651

1,750,422

CURRENT ASSETS

Debtors

6

1,892,620

2,004,085

Cash at bank and in hand

39,314

77,262

1,931,934

2,081,347

CREDITORS

Amounts falling due within one year

7

93,523

108,796

NET CURRENT ASSETS

1,838,411

1,972,551

TOTAL ASSETS LESS CURRENT LIABILITIES

4,216,062

3,722,973

CREDITORS

Amounts falling due after more than one year

8

(3,092,260

)

(2,977,090

)

PROVISIONS FOR LIABILITIES

(182,239

)

(113,886

)

NET ASSETS

941,563

631,997

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Revaluation reserve

10

292,119

6,500

Retained earnings

648,444

624,497

SHAREHOLDERS' FUNDS

941,563

631,997

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd December 2021 and were signed by:

D J Haig - Director

1.	STATUTORY INFORMATION

Seraph Freeholdings 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 as modified by the revaluation of certain assets.

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.

Fixtures and fittings

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1st April 2020

1,748,531

13,623

1,762,154

Additions

271,479

-

271,479

Revaluations

356,641

-

356,641

At 31st March 2021

2,376,651

13,623

2,390,274

DEPRECIATION

At 1st April 2020

-

12,732

12,732

Charge for year

-

891

891

At 31st March 2021

-

13,623

13,623

NET BOOK VALUE

At 31st March 2021

2,376,651

-

2,376,651

At 31st March 2020

1,748,531

891

1,749,422

Cost or valuation at 31st March 2021 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2013

4,000

-

4,000

Valuation in 2021

356,641

-

356,641

Cost

2,016,010

13,623

2,029,633

2,376,651

13,623

2,390,274

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2020

and 31st March 2021

1,000

NET BOOK VALUE

At 31st March 2021

1,000

At 31st March 2020

1,000

6.

DEBTORS

2021

2020

as restated

£

£

Amounts falling due within one year:

Other debtors

-

24,200

Landlord account

515

2,016

515

26,216

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,892,105

1,977,869

Aggregate amounts

1,892,620

2,004,085

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Bank loans and overdrafts

4,167

-

Credit card

3,000

667

Amounts owed to group undertakings

49,646

-

Corporation Tax

1

1

Other creditors

30,000

101,735

Accruals and deferred income

6,709

6,393

93,523

108,796

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

as restated

£

£

Bank loans - 1-2 years

45,833

-

Mortgages

2,281,343

2,290,758

Amounts owed to group undertakings

2,000

2,000

K Haig loan

304,594

304,594

MJW loan

300,000

300,000

Directors' loan accounts

158,490

79,738

3,092,260

2,977,090

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages

2,281,343

2,290,758

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

as restated

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Revaluation

reserve

£

At 1st April 2020

6,500

Property revaluation

285,619

At 31st March 2021

292,119

11.	RELATED PARTY DISCLOSURES

At year end the company owed the director D J Haig £158,490 (2020 - £79,738).

At year end the company was owed £1,892,105 (2020- £1,977,869) by other group companies under the control of D J Haig.

At the year end the company owed £49,646 (2020- nil) to other group companies under the control of D J Haig.

At year end the company owed £2,000 (2020 - £2,000) to parent company under the control of D J Haig.

The company also owed £304,594 (2020 - £304,594) to K Haig, a related party to D J Haig.

The company also owed £30,000 (2020 - £nil) to Seraph Development Limited, a company under significant control for D J Haig.