REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 April 2022 |
|
for |
|
Sorrel Commercial Properties Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 April 2022 |
|
for |
|
Sorrel Commercial Properties Limited |
Sorrel Commercial Properties Limited (Registered number: 02220849) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
Sorrel Commercial Properties Limited |
|
Company Information |
for the Year Ended 30 April 2022 |
|
|
|
|
|
|
|
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 Commercial Properties Limited (Registered number: 02220849) |
|
Statement of Financial Position |
30 April 2022 |
|
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
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 and authorised for issue on
|
|
|
|
|
|
Sorrel Commercial Properties Limited (Registered number: 02220849) |
|
Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
|
1. | STATUTORY INFORMATION |
|
Sorrel Commercial Properties Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Tangible fixed assets |
|
Freehold property | - |
|
|
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. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
|
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 Commercial Properties Limited (Registered number: 02220849) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
|
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
|
DEPRECIATION |
At 1 May 2021 |
|
Charge for year |
|
At 30 April 2022 |
|
NET BOOK VALUE |
At 30 April 2022 |
|
At 30 April 2021 |
|
|
Included in cost of land and buildings is freehold land of £ 159,755 (2021 - £ 159,755 ) which is not depreciated. |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
|
|
Amounts owed by related parties | 948,000 | 1,100,000 |
Prepayments |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Directors' current accounts | 162,190 | 137,190 |
Accrued expenses |
|
|
|
|
|
7. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
|
Ordinary | £1 | 200,000 | 200,000 |
Sorrel Commercial Properties Limited (Registered number: 02220849) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
|
8. | RELATED PARTY DISCLOSURES |
|
During the year rents were received of £114,000 (2021 - £114,000) from SRM Industries Limited - a company in which Mr & Mrs Spare are directors. The debtor owed to Sorrel Commercial Properties Limited at the balance sheet date was £266,000 (2021 - £323,000). |
|
During the year the company made a loan totalling £nil (2021 - £nil) to Sorrel Properties Limited - a company in which Mr & Mrs Spare are directors and shareholders. The amount owing at the balance sheet date was £682,000 (2021 - £682,000). |
|
During the year the company made a loan totalling £nil (2021 - £95,000) to Sorrel Developments (UK) Limited - a company in which Mr & Mrs Spare are directors and shareholders.This loan was repaid during the year. The amount owing at the balance sheet date was £nil (2021 - £95,000). |