Sunbeam Property Subsidiary Limited - Accounts to registrar (filleted) - small 18.2
Sunbeam Property Subsidiary Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
FOR |
SUNBEAM PROPERTY SUBSIDIARY LIMITED |
SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SUNBEAM PROPERTY SUBSIDIARY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Pavilion View |
19 New Road |
Brighton |
East Sussex |
BN1 1EY |
SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933) |
BALANCE SHEET |
28 FEBRUARY 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933) |
BALANCE SHEET - continued |
28 FEBRUARY 2019 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
1. | STATUTORY INFORMATION |
Sunbeam Property Subsidiary Limited is a |
The company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis as the director has indicated his willingness to |
support the company over the next twelve months. |
Turnover |
Revenue is measured at fair value of the consideration received or receivable. Revenue represents amounts |
receivable for rents from the letting investment properties. |
Revenue from rents receivable from the company's investment properties is recognised for the period that the |
rent covers. |
Tangible fixed assets |
Computer equipment | - |
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. |
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 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. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
2. | ACCOUNTING POLICIES - continued |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 March 2018 |
and 28 February 2019 |
DEPRECIATION |
At 1 March 2018 |
Charge for year |
At 28 February 2019 |
NET BOOK VALUE |
At 28 February 2019 |
At 28 February 2018 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2018 |
and 28 February 2019 |
NET BOOK VALUE |
At 28 February 2019 |
At 28 February 2018 |
Fair value at 28 February 2019 is represented by: |
£ |
Valuation in 2015 | 85,000 |
Valuation in 2016 | 45,000 |
Valuation in 2017 | (50,000 | ) |
Valuation in 2018 | (812 | ) |
Cost | 370,812 |
450,000 |
The investment properties were valued on an open market basis on 28 February 2019 by the director . |
SUNBEAM PROPERTY SUBSIDIARY LIMITED (REGISTERED NUMBER: 08329933) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 7,891 | 7,891 |
Deferred |
tax |
£ |
Balance at 1 March 2018 |
Balance at 28 February 2019 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 28 February 2019 and |
28 February 2018: |
2019 | 2018 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
11. | ULTIMATE PARENT COMPANY |
Sunbeam Property Limited is regarded by the director as being the company's ultimate parent company. |
Registered office and principal place of business: Pavilion View, 19 New Road, Brighton, East Sussex, BN1 1EY. |