SSC Properties Limited |
|
Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of SSC Properties Limited for the year ended 31 October 2016 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of SSC Properties Limited for the year ended 31 October 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
Attwood & Co |
|
Unit 3 Crescent Industrial Park |
Peartree Lane |
Dudley |
West Midlands |
DY2 0QQ |
|
26 June 2017 |
|
SSC Properties Limited
|
Registered number: |
03614998
|
Abbreviated Balance Sheet |
as at 31 October 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Investments |
2 |
|
|
450,000 |
|
|
450,000 |
|
Current assets |
Debtors |
|
|
1,174 |
|
|
2,371 |
Cash at bank and in hand |
|
|
4,247 |
|
|
2,149 |
|
|
|
5,421 |
|
|
4,520 |
|
Creditors: amounts falling due within one year |
|
|
(219,291) |
|
|
(219,330) |
|
Net current liabilities |
|
|
|
(213,870) |
|
|
(214,810) |
|
Total assets less current liabilities |
|
|
|
236,130 |
|
|
235,190 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(136,942) |
|
|
(155,442) |
|
|
|
Net assets |
|
|
|
99,188 |
|
|
79,748 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
4 |
|
|
3 |
|
|
3 |
Profit and loss account |
|
|
|
99,185 |
|
|
79,745 |
|
Shareholders' funds |
|
|
|
99,188 |
|
|
79,748 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
H Cheema |
Director |
Approved by the board on 26 June 2017
|
|
SSC Properties Limited
|
Notes to the Abbreviated Accounts |
for the year ended 31 October 2016
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Investment properties |
|
Investment properties are valued at their open market value at the balance sheet date. Any surplus on revaluation is transferred to the investment property revaluation reserve. Any deficit is deducted from the investment property revaluation reserve, except for permanent diminutions in value, which are charged to the profit and loss account. No amortisation or depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to expiry, in accordance with Statement of Standard Accounting Practice 19:"Accounting for investment properties". This treatment is contrary to the requirements of the Companies Act to provide for depreciation but is considered necessary to ensure the financial statements give a true and fair view. Depreciation is only one of the factors reflected at the balance sheet date valuation and the amount that might otherwise have been shown cannot be separately identified or quantified. |
|
|
2 |
Investments |
£ |
|
|
Cost |
|
At 1 November 2015 |
450,000 |
|
|
At 31 October 2016 |
450,000 |
|
|
|
|
|
|
|
3 |
Loans |
2016 |
|
2015 |
£ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
60,987 |
|
78,892 |
|
Secured bank loans |
172,948 |
|
172,948 |
|
|
|
|
|
|
|
|
|
|
4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
3 |
|
3 |
|
3 |
|
|
|
|
|
|
|
|
|