Sherwood Properties (Nottingham) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09411370 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Sherwood Properties (Nottingham) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Landa

P S Landa

K S Landa

REGISTERED OFFICE:

Concord House 1 Malton Road

New Basford

Nottingham

Nottinghamshire

NG5 1EG

REGISTERED NUMBER:

09411370 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

798

-

Investment property

5

8,545,000

8,135,000

8,545,798

8,135,000

CURRENT ASSETS

Debtors

6

75,276

109,139

Cash at bank

76,646

222,847

151,922

331,986

CREDITORS

Amounts falling due within one year

7

(3,725,786

)

(3,297,270

)

NET CURRENT LIABILITIES

(3,573,864

)

(2,965,284

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,971,934

5,169,716

CREDITORS

Amounts falling due after more than one year

8

(805,528

)

(1,707,931

)

PROVISIONS FOR LIABILITIES

(224,418

)

(72,701

)

NET ASSETS

3,941,988

3,389,084

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

732,379

371,361

Retained earnings

3,209,509

3,017,623

3,941,988

3,389,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 3 November 2023 and were signed on its behalf by:

M S Landa - Director

1.	STATUTORY INFORMATION

Sherwood Properties (Nottingham) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The gains on investment properties are transferred to the non-distributable fair value reserve.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,191

At 31 March 2023

1,191

DEPRECIATION

Charge for year

393

At 31 March 2023

393

NET BOOK VALUE

At 31 March 2023

798

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

8,135,000

Revaluations

410,000

At 31 March 2023

8,545,000

NET BOOK VALUE

At 31 March 2023

8,545,000

At 31 March 2022

8,135,000

The valuation was completed by Innes England who are externally qualified valuers.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

36,662

65,424

Other debtors

38,614

43,715

75,276

109,139

Other debtors include prepayments and accrued income of £37,376 (2022: £40,376).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

177,403

339,224

Trade creditors

6,699

4,893

Taxation and social security

98,088

104,646

Other creditors

3,443,596

2,848,507

3,725,786

3,297,270

Other creditors include accruals and deferred income of £115,634 (2022: £131,902).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

805,528

1,707,931

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

-

353,593

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loans

982,931

2,047,155

Bank loans are secured over investment property.