SF 2058 LIMITED

SF 2058 LIMITED

SF 2058 LIMITED - Company Information

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SF 2058 LIMITED

Company Registration Number:
SC296191 (Scotland)

Unaudited abridged accounts for the year ended 31 January 2020

Period of accounts

Start date: 01 February 2019

End date: 31 January 2020

SF 2058 LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2020

Balance sheet
Notes

SF 2058 LIMITED

Balance sheet

As at 31 January 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 600,000 600,000
Total fixed assets: 600,000 600,000
Current assets
Debtors:   78,969 78,969
Cash at bank and in hand: 9,483 934
Total current assets: 88,452 79,903
Creditors: amounts falling due within one year: 4 (669,763) (643,109)
Net current assets (liabilities): (581,311) (563,206)
Total assets less current liabilities: 18,689 36,794
Creditors: amounts falling due after more than one year:   (371,381) (415,300)
Total net assets (liabilities): (352,692) (378,506)
Capital and reserves
Called up share capital: 3 3
Revaluation reserve:5(501,169)(501,169)
Profit and loss account: 148,474 122,660
Shareholders funds: (352,692) (378,506)

The notes form part of these financial statements

SF 2058 LIMITED

Balance sheet statements

For the year ending 31 January 2020 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 April 2020
and signed on behalf of the board by:

Name: Mr C C Keenan
Status: Director

The notes form part of these financial statements

SF 2058 LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

Investment property, which is property held to earn rentals and/or capital appreciation, is held at fair value. The fair value of the investment property is derived from the average commercial property rental yields in the Belfast area. This is assessed on an annual basis with the surplus or deficit on revaluation recognised in the profit and loss account.

SF 2058 LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

2. Employees

2020 2019
Average number of employees during the period 0 0

SF 2058 LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

3. Tangible Assets

Total
Cost £
At 01 February 2019 600,000
At 31 January 2020 600,000
Net book value
At 31 January 2020 600,000
At 31 January 2019 600,000

Investment property comprises a single property at 1001 Shore Road, Belfast. The property was purchased during the year ended 31 January 2007 for £1,101,169 and was revalued downwards in the years ended 31 January 2008, 31 January 2009 and 31 January 2010. The fair value of the investment property is derived from the average commercial property rental yields in the Belfast area.

SF 2058 LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

4. Creditors: amounts falling due within one year note

AIB Group (UK) Plc hold a standard security over the company's investment property.

SF 2058 LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

5. Revaluation reserve

2020
£
Balance at 01 February 2019 (501,169)
Surplus or deficit after revaluation 0
Balance at 31 January 2020 (501,169)