Sorrel Properties Limited - Accounts to registrar (filleted) - small 18.2
Sorrel Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 April 2018 |
| for |
| Sorrel Properties Limited |
| Sorrel Properties Limited (Registered number: 04063156) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Sorrel Properties Limited |
| Company Information |
| for the Year Ended 30 April 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Prince William House |
| 10 Lower Church Street |
| Ashby de la Zouch |
| Leicestershire |
| LE65 1AB |
| BANKERS: |
| 15 Uttoxeter Road |
| Mickleover |
| Derbyshire |
| DE3 0DA |
| Sorrel Properties Limited (Registered number: 04063156) |
| Statement of Financial Position |
| 30 April 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Sorrel Properties Limited (Registered number: 04063156) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2018 |
| 1. | STATUTORY INFORMATION |
| Sorrel Properties Limited is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Long leasehold | - |
| Equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| Loans from directors |
| Any loans from the directors to the company are interest free and repayable on demand. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Sorrel Properties Limited (Registered number: 04063156) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Long |
| leasehold | Equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2018 |
| DEPRECIATION |
| At 1 May 2017 |
| and 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Owed by related parties | 250,445 | 201,000 |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Other creditors |
| Owed to related parties | 682,000 | 682,000 |
| Directors' current accounts | 361,832 | 343,148 |
| Accrued expenses |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Sorrel Properties Limited (Registered number: 04063156) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the amount owing by Sorrel Properties Limited to Sorrel Commercial Properties |
| Limited (a company in which the directors are also directors and shareholders) in respect of a loan was £682,000 |
| (2017 - £682,000). |
| At the balance sheet date the amount owing by SRM Industries Limited to Sorrel Properties Limited in respect of |
| a loan was £35,445 (2017 - £96,000). |
| At the balance sheet date the amount owing by Sorrel Developments Limited to Sorrel Properties Limited in |
| respect of a loan was £215,000 (2017 - £105,000). |