REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2020 |
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SLS PROPERTY SERVICES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2020 |
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FOR |
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SLS PROPERTY SERVICES LIMITED |
SLS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07483779) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MARCH 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SLS PROPERTY SERVICES LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31ST MARCH 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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13 - 17 Hursley Road |
Chandlers Ford |
Eastleigh |
SO53 2FW |
SLS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07483779) |
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BALANCE SHEET |
31ST MARCH 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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SLS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07483779) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MARCH 2020 |
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1. | STATUTORY INFORMATION |
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SLS Property Services 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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 and loss. |
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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. |
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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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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st April 2019 |
and 31st March 2020 |
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DEPRECIATION |
At 1st April 2019 |
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Charge for year |
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At 31st March 2020 |
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NET BOOK VALUE |
At 31st March 2020 |
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At 31st March 2019 |
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SLS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07483779) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MARCH 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1st April 2019 |
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Additions |
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Revaluations | 108,000 |
At 31st March 2020 |
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NET BOOK VALUE |
At 31st March 2020 |
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At 31st March 2019 |
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Fair value at 31st March 2020 is represented by: |
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Valuation in 2013 | 377,717 |
Valuation in 2014 | 347,764 |
Valuation in 2015 | 60,000 |
Valuation in 2016 | 25,000 |
Valuation in 2019 | 65,000 |
Valuation in 2020 | 108,000 |
Cost | 763,310 |
1,746,791 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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31.3.20 | 31.3.19 |
£ | £ |
Cost | 763,310 | 756,519 |
Aggregate depreciation | (142,577 | ) | (127,039 | ) |
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Investment property was valued on an open market basis basis on 31st March 2020 by the director . |
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6. | DEBTORS |
31.3.20 | 31.3.19 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by associates |
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Other debtors |
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Amounts falling due after more than one year: |
Amounts owed by associates |
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Aggregate amounts |
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SLS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07483779) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MARCH 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to associates | 79,895 | 62,826 |
Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Bank loans |
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Amounts owed to associates | 146,200 | 5,000 |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 631,501 | 657,501 |
Other loans more 5yrs instal | 125,000 | 125,000 |
756,501 | 782,501 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.20 | 31.3.19 |
£ | £ |
Bank loans |
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HSBC Bank PLC has five fixed and floating charges over the company including the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery. |
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These charges were satisfied on 16 October 2020 and a new charge taken by Cynergy Bank on 15 September 2020 over the companies investment properties. |
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Full details of all charges can be found on Companies House website. |
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10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st April 2019 |
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Property revaluation | 87,480 |
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At 31st March 2020 |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is M D E Bayntun. |