Caseware UK (AP4) 2021.0.152 2021.0.152 truetrue2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22020-12-01Property investment and management.false 09877840 2020-12-01 2021-11-30 09877840 2019-12-01 2020-11-30 09877840 2021-11-30 09877840 2020-11-30 09877840 c:Director2 2020-12-01 2021-11-30 09877840 d:FreeholdInvestmentProperty 2021-11-30 09877840 d:FreeholdInvestmentProperty 2020-11-30 09877840 d:CurrentFinancialInstruments 2021-11-30 09877840 d:CurrentFinancialInstruments 2020-11-30 09877840 d:Non-currentFinancialInstruments 2021-11-30 09877840 d:Non-currentFinancialInstruments 2020-11-30 09877840 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 09877840 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 09877840 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 09877840 d:Non-currentFinancialInstruments d:AfterOneYear 2020-11-30 09877840 d:ShareCapital 2021-11-30 09877840 d:ShareCapital 2020-11-30 09877840 d:RetainedEarningsAccumulatedLosses 2021-11-30 09877840 d:RetainedEarningsAccumulatedLosses 2020-11-30 09877840 c:FRS102 2020-12-01 2021-11-30 09877840 c:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 09877840 c:FullAccounts 2020-12-01 2021-11-30 09877840 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure

Registered number: 09877840










S.N.Real Estate Investment Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 November 2021

 
S.N.Real Estate Investment Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of S.N.Real Estate Investment Ltd for the year ended 30 November 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S.N.Real Estate Investment Ltd for the year ended 30 November 2021 which comprise  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 (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of S.N.Real Estate Investment Ltd, as a body, in accordance with the terms of our engagement letter dated 20 February 2020Our work has been undertaken solely to prepare for your approval the financial statements of S.N.Real Estate Investment Ltd  and state those matters that we have agreed to state to the Board of directors of S.N.Real Estate Investment Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S.N.Real Estate Investment Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that S.N.Real Estate Investment Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S.N.Real Estate Investment Ltd. You consider that S.N.Real Estate Investment Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of S.N.Real Estate Investment Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL
15 August 2022
Page 1

 
S.N.Real Estate Investment Ltd
Registered number: 09877840

Balance sheet
As at 30 November 2021

2021
2020
Note
£
£

Fixed assets
  

Investment property
 4 
1,729,099
1,729,099

  
1,729,099
1,729,099

Current assets
  

Cash at bank
  
-
1,836

  
-
1,836

Creditors: amounts falling due within one year
 5 
(193,433)
(199,566)

Net current liabilities
  
 
 
(193,433)
 
 
(197,730)

Total assets less current liabilities
  
1,535,666
1,531,369

Creditors: amounts falling due after more than one year
 6 
(1,600,000)
(1,600,000)

  

Net liabilities
  
(64,334)
(68,631)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(64,434)
(68,731)

  
(64,334)
(68,631)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

................................................
Ms N Sharifi
Director
Date: 14 August 2022

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
S.N.Real Estate Investment Ltd
 

 
Notes to the financial statements
For the year ended 30 November 2021

1.


General information

S.N.Real Estate Investment Ltd is a private company limited by shares incorporated in England and Wales (registered number: 09877840). The registered office and business address is: 28-30 Hyde Gardens, Eastbourne, East Sussex, BN21 4PX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The going concern basis is considered to be appropriate as the company is dependent upon the support of its directors and loan provider. The directors and loan provider have indicated that their support will continue for the foreseeable future. The directors have also considered the impact of the COVID-19 pandemic and its affect on the global economic climate and on all aspects of the company’s financial and narrative reporting including the valuation of investment property. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amount, to provide for any further liabilities which might arise and reclassify fixed assets as fixed assets.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable.

 
2.4

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Freehold investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
S.N.Real Estate Investment Ltd
 

 
Notes to the financial statements
For the year ended 30 November 2021

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2020
1,729,099



At 30 November 2021
1,729,099

The 2021 valuations were made by the directors, on an open market value for existing use basis.


2021
2020
£
£


Historic cost
1,729,099
1,729,099

1,729,099
1,729,099

Page 4

 
S.N.Real Estate Investment Ltd
 

 
Notes to the financial statements
For the year ended 30 November 2021

5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other loan
191,783
126,493

Other creditors
-
71,513

Accruals and deferred income
1,650
1,560

193,433
199,566



6.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Other loan
1,600,000
1,600,000

1,600,000
1,600,000


Secured Loans
The loan is secured by a fixed charge over the company's investment properties, 163 Terminus Road, Eastbourne, BN21 3NX, 172 Terminus Road, Eastbourne, BN21 3BB and 176 Terminus Road, Eastbourne, BN21 3BB.


Page 5