Sohot Property Limited
Sohot Property Limited
Registered number: 08135158
Unaudited Financial Statements
For The Year Ended
30 June 2023
Sohot Property Limited
Unaudited Financial Statements
For The Year Ended
30 June 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Sohot Property Limited
Balance Sheet
As At
30 June 2023
Balance Sheet
Registered number:
08135158
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 4 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year |
( |
( |
|||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
( |
( |
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
|
|
||
| Revaluation reserve |
|
|
|||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | 83,458 | 82,076 | |||
Page 1
Page 2
Sohot Property Limited
Balance Sheet (continued)
As At
30 June 2023
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Sohot Property Limited
Notes to the Financial Statements
For The Year Ended
30 June 2023
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2.
Turnover
Turnover represents rents receivable on properties within the UK. Rents are receivable on a monthly basis and where payments are receivable from tenants for periods ending after the balance sheet date, the relevant proportion of rent receivable is recorded as deferred income and included as part of creditors due within one year.
1.3.
Tangible Fixed Assets and Depreciation
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. No depreciation is recognised.
| Leasehold |
|
1.4.
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 years 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 assets reflect 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.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2022: NIL)
Page 3
Page 4
Sohot Property Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
3.
Tangible Assets
| Land & Property | |
|---|---|
| Leasehold | |
| £ | |
| Cost | |
| As at
|
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
This value is made up of one property being,
PP Oakdale worth £600,000 (Revaluation adjustment £168,680),
This is the most recent and reliable market value of the property.
Fair value of Leasehold Properties of £600,000 at 30 June 2023 is represented by:
Cost £431,320
Valuation in 2016 £118,680
Valuation in 2021 £50,000
4.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
| Director's loan account |
|
|
|
|
|
|
||
Amounts falling due in more than five years:
The mortgage is interest-only, and interest has been expensed as paid.
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
Page 4
Page 5
Sohot Property Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
6.
Share Capital
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
|
|
|
| Value | Number | 2023 | 2022 | ||
|---|---|---|---|---|---|
| Allotted, called up and fully paid | £ | £ | £ | ||
|
|
|
|
10 | 10 | |
7.
Related Party Transactions
At the balance sheet date, included within creditors due within one year, is an amount of £51,641 (2022: £49,941) owed to the director. This loan is interest free, of no fixed term and repayable on demand.
The company's ultimate controlling party is G W De Canha by virtue of his ownership of 100% of the issued share capital in the company.
8.
Taxation
The company has carried forward losses of £30,005 (2022: £31,387) which it can use against future taxable profits.
9.
General Information
Sohot Property Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08135158
. The registered office is Bank House, 81 St Judes Road, Englefield Green, Surrey, TW20 0DF.
Page 5