REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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FOR |
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SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED |
SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED (REGISTERED NUMBER: 00548288) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Sterling House |
27 Hatchlands Road |
Redhill |
Surrey |
RH1 6RW |
SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED (REGISTERED NUMBER: 00548288) |
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BALANCE SHEET |
30TH SEPTEMBER 2020 |
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30.9.20 | 30.9.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED (REGISTERED NUMBER: 00548288) |
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BALANCE SHEET - continued |
30TH SEPTEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED (REGISTERED NUMBER: 00548288) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Southern Provinces Property Company Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents invoiced sales of rent and insurance, adjusted for services relating to the following period. |
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Tangible fixed assets |
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Office equipment and furniture | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED (REGISTERED NUMBER: 00548288) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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4. | TANGIBLE FIXED ASSETS |
Office |
Improvements | equipment |
Freehold | to | and | Computer |
property | property | furniture | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st October 2019 |
and 30th September
2020 |
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DEPRECIATION |
At 1st October 2019 |
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Charge for year |
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At 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | RESERVES |
Revaluation |
reserve |
£ |
At 1st October 2019 |
and 30th September 2020 |
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SOUTHERN PROVINCES PROPERTY COMPANY |
LIMITED (REGISTERED NUMBER: 00548288) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30th September 2020 and 30th September 2019: |
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30.9.20 | 30.9.19 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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At the end of the period, the company owed Mrs AV Schryver, a director, £1,209 (2019: £593). |
Included in other debtors is the loan to Mr M Schryver together with the related tax payable under S455 CTA2010 amounting to £31,908 (2019: £29,795). |
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A 3% interest charge has been made on the average balance of the directors loan during the year. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of Mrs. A V Schryver. |