S.A.N. Properties Limited - Period Ending 2016-09-30

Registration number: 04257233

S.A.N. Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

HCB Accountants (Sterling) Ltd
The Old Bank Chambers
27 Lincoln Croft
Shenstone
Lichfield
WS14 0ND

S.A.N. Properties Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

S.A.N. Properties Limited
(Registration number: 04257233)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					167,797			171,226
Current assets
Debtors					30,973			30,521
Cash at bank and in hand					5,898			7,522
					36,871			38,043
Creditors: Amounts falling due within one year					(131,695)			(130,393)
Net current liabilities					(94,824)			(92,350)
Net assets					72,973			78,876
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					72,972			78,875
Shareholders' funds					72,973			78,876

For the year ending 30 September 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 22 June 2017 and signed on its behalf by:

.........................................
Ms Nicola Elizabeth Toon
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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S.A.N. Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of property rental income receivable.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% on cost

Investment properties

Investment properties are revalued at open market value at the balance sheet date as determined by the director. Any surplus on revaluation is transferred to a revaluation reserve, except for permanent diminuation in value, which are charged to profit and loss account. Realised revaluation surpluses and deficits on disposal are transferred to profit and loss reserves. In accordance with Financial Reporting Standard for Smaller Entities (effective January 2015) investment properties are not depreciatied.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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S.A.N. Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		184,942			184,942
At 30 September 2016		184,942			184,942
Depreciation
At 1 October 2015		13,716			13,716
Charge for the year		3,429			3,429
At 30 September 2016		17,145			17,145
Net book value
At 30 September 2016		167,797			167,797
At 30 September 2015		171,226			171,226

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		1			1			1			1

4

Control

The company is controlled by Mr J Toon The company was under the control of Mr J Toon throughout the current and preceding year.

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