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

REGISTERED NUMBER: 07677996 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

SNK PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Katyal

Mrs N D Katyal

REGISTERED OFFICE:

Jackdaws

Kemnal Road

Chislehurst

Kent

BR7 6LT

REGISTERED NUMBER:

07677996 (England and Wales)

ACCOUNTANTS:

Andrew Cross & Co.

Chartered Certified Accountants

Plaza Building

Lee High Road

Lewisham

London

SE13 5PT

FIXED ASSETS

Tangible assets

4

11,200,000

11,200,000

CURRENT ASSETS

Debtors

5

9,757

-

Cash at bank

753,929

734,475

763,686

734,475

CREDITORS

Amounts falling due within one year

6

410,415

3,365,525

NET CURRENT ASSETS/(LIABILITIES)

353,271

(2,631,050

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,553,271

8,568,950

CREDITORS

Amounts falling due after more than one year

7

(3,974,638

)

(1,428,368

)

PROVISIONS FOR LIABILITIES

(621,724

)

(621,724

)

NET ASSETS

6,956,909

6,518,858

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

6,956,907

6,518,856

SHAREHOLDERS' FUNDS

6,956,909

6,518,858

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

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

S C Katyal - Director

Mrs N D Katyal - Director

1.	STATUTORY INFORMATION

SNK 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.

Tangible fixed assets

No depreciation is provided on the Company's investment properties.

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 NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 July 2020

and 30 June 2021

11,200,000

NET BOOK VALUE

At 30 June 2021

11,200,000

At 30 June 2020

11,200,000

Cost or valuation at 30 June 2021 is represented by:

Land and

buildings

£

Valuation in 2021

3,272,230

Cost

7,927,770

11,200,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

750

-

Other debtors

9,007

-

9,757

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

3,982

-

Taxation and social security

116,830

158,596

Other creditors

289,603

3,206,929

410,415

3,365,525

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

3,974,638

1,428,368

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

532,597

919,368

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Lloyds Bank PLC

1,190,597

1,577,368

Lloyds Bank PLC have a debenture and legal charge overall the company's freehold properties in addition to joint and several guarantees from all the directors