Sherburn Commercial Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09977423 (England and Wales)

Unaudited Financial Statements

for the year ended

31 March 2018

for

Sherburn Commercial Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Brimble

I J Thompson

SECRETARY:

A J Brimble

REGISTERED OFFICE:

Unit 2 Hurricane Close

Sherburn In Elmet

Leeds

West Yorkshire

LS25 6PB

REGISTERED NUMBER:

09977423 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Oak Tree House, Harwood Road

Northminster Business Park

Upper Poppleton

York

YO26 6QU

FIXED ASSETS

Investment property

3

1,114,978

1,114,978

CURRENT ASSETS

Debtors

4

-

6,190

Cash at bank

37,176

26,021

37,176

32,211

CREDITORS

Amounts falling due within one year

5

417,580

407,587

NET CURRENT LIABILITIES

(380,404

)

(375,376

)

TOTAL ASSETS LESS CURRENT LIABILITIES

734,574

739,602

CREDITORS

Amounts falling due after more than one year

6

617,925

667,536

NET ASSETS

116,649

72,066

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

116,549

71,966

SHAREHOLDERS' FUNDS

116,649

72,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 8 June 2018 and were signed on its behalf by:

A J Brimble - Director

1.	STATUTORY INFORMATION

Sherburn Commercial 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from the standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and also have been consistently applied within the same

accounts.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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

operating expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

1,114,978

NET BOOK VALUE

At 31 March 2018

1,114,978

At 31 March 2017

1,114,978

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade debtors

-

6,190

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Bank loans and overdrafts

52,415

41,167

Trade creditors

611

-

Tax

26,135

17,991

VAT

6,456

6,029

Other creditors

195,480

7,000

Directors' loan accounts

131,900

334,900

Accruals and deferred income

4,583

500

417,580

407,587

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/18

31/3/17

£

£

Bank loans - 1-2 years

52,739

42,285

Bank loans - 2-5 years

310,746

625,251

Other creditors - 1-2 years

60,480

-

Other creditors - 2-5 years

193,960

-

617,925

667,536

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/18

31/3/17

£

£

Bank loans

415,900

708,703

The mortgage is secured on the property to which it relates.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/18

31/3/17

value:

£

£

75

Ordinary 'A'

£1

75

75

25

Ordinary 'B'

£1

25

25

100

100