SSH Investments Limited
SSH Investments Limited
Registered number: 07928628
Unaudited Financial Statements
For The Year Ended
31 March 2023
Robert Cole & Co
Chartered Certified Accountants
Office 2 Llynfi Enterprise Centre
Heol Ty Gwyn Industrial Estate
Maesteg
CF34 0BQ
SSH Investments Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
Contents | |
Page | |
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Accountant's Report | 1 |
Balance Sheet | 2—3 |
Notes to the Financial Statements | 4—7 |
SSH Investments Limited
Accountant's Report
For The Year Ended
31 March 2023
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of
SSH Investments Limited
For The Year Ended 31 March 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
SSH Investments Limited
which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of
SSH Investments Limited
, as a body, in accordance with the terms of our engagement letter dated 23 October 2015. Our work has been undertaken solely to prepare for your approval the accounts of
SSH Investments Limited
and state those matters that we have agreed to state to the directors of
SSH Investments Limited
, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
SSH Investments Limited
and its directors as a body for our work or for this report.
It is your duty to ensure that
SSH Investments Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
SSH Investments Limited
. You consider that
SSH Investments Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of
SSH Investments Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed |
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Chartered Certified Accountants
Office 2 Llynfi Enterprise Centre
Heol Ty Gwyn Industrial Estate
Maesteg
CF34 0BQ
SSH Investments Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
07928628
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investment Properties | 4 |
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Investments | 5 |
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CURRENT ASSETS | |||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 7 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 1,888,776 | 1,576,343 | |||
SSH Investments Limited
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
Director
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The notes on pages 4 to 7 form part of these financial statements.
SSH Investments Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
SSH Investments Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07928628
. The registered office is 65 Station Road, Port Talbot, SA13 1NW.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2.
Significant judgements and estimations
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
No significant judgements have had to be made by the directors in preparing these financial statements.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes interest and commissions earned, rental income and the proceeds from the sale of development properties.
2.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5.
Stocks and Work in Progress
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6.
Financial Instruments
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumiliated impairment losses. Listed invetsments are measured at fair value. Unlisted investments are measured at fair value unless the fair value cannot be measured reilably, in which case the are measured at cost less any accumilated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
SSH Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
2.7.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9.
Consolidation
In the opinion of the directors, the company and its subsidiary comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
SSH Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Investment Property
2023 | |
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£ | |
Fair Value | |
As at
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5.
Investments
Unlisted | |
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£ | |
Cost | |
As at
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As at
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Provision | |
As at
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As at
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Net Book Value | |
As at
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As at
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6.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Other debtors |
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7.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Corporation tax |
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Other creditors |
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SSH Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
8.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
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£ | £ | ||
Bank loans |
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9.
Related Party Transactions
The company has an ongoing loan facility amounting to £608,064 (2022: £311,824) from members of key management personnel. The loan is repayble on demand and the rate of interest charged is 0%. At the balance sheet date, the loan was still outstanding and is presented within Creditors: amounts falling within one year.