Sussex Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04274432 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

FOR

SUSSEX PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J R Ardagh

K P Ardagh

SECRETARY:

J E Ardagh

REGISTERED OFFICE:

The Garden House

Middleton Manor

Westmeston

East Sussex

BN6 8RL

REGISTERED NUMBER:

04274432 (England and Wales)

ACCOUNTANTS:

Galloways Accounting

Atlas Chambers

33 West Street

Brighton

East Sussex

BN1 2RE

FIXED ASSETS

Tangible assets

4

691

921

CURRENT ASSETS

Stocks

5

1,115,585

716,826

Debtors

6

11,145

16,250

Cash at bank

5,685

446,055

1,132,415

1,179,131

CREDITORS

Amounts falling due within one year

7

(67,026

)

(63,341

)

NET CURRENT ASSETS

1,065,389

1,115,790

TOTAL ASSETS LESS CURRENT LIABILITIES

1,066,080

1,116,711

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,065,980

1,116,611

SHAREHOLDERS' FUNDS

1,066,080

1,116,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2023 and were signed on its behalf by:

J R Ardagh - Director

1.	STATUTORY INFORMATION

Sussex Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover comprises sales of development property.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stock relates to property that was acquired for the purpose of re-development and has been valued at the lower of cost and net realisable value.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Going concern

After reviewing the company's forecasts, the directors believe that the company has adequate resources to continue for the foreseeable future and therefore, the company continues to adopt the going concern basis in preparing its financial statements.

3.

EMPLOYEES

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 6 April 2022

and 5 April 2023

2,473

DEPRECIATION

At 6 April 2022

1,552

Charge for year

230

At 5 April 2023

1,782

NET BOOK VALUE

At 5 April 2023

691

At 5 April 2022

921

5.

STOCKS

2023

2022

£

£

Inventories

1,115,585

716,826

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts recoverable on contract

500

-

Other debtors

-

1,500

Tax

840

814

VAT

6,912

11,694

Prepayments and accrued income

2,893

2,242

11,145

16,250

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

26

24,693

Corporation tax

-

36,283

Directors' current accounts

65,000

-

Accruals and deferred income

2,000

2,365

67,026

63,341