IRIS Accounts Production v22.1.4.3 04924810 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure049248102020-12-31049248102021-12-31049248102021-01-012021-12-31049248102019-12-31049248102020-01-012020-12-31049248102020-12-3104924810ns16:EnglandWales2021-01-012021-12-3104924810ns15:PoundSterling2021-01-012021-12-3104924810ns11:Director12021-01-012021-12-3104924810ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3104924810ns11:SmallEntities2021-01-012021-12-3104924810ns11:AuditExemptWithAccountantsReport2021-01-012021-12-3104924810ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3104924810ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104924810ns11:FullAccounts2021-01-012021-12-3104924810ns11:OrdinaryShareClass12021-01-012021-12-3104924810ns11:Director22021-01-012021-12-3104924810ns11:CompanySecretary12021-01-012021-12-3104924810ns11:RegisteredOffice2021-01-012021-12-3104924810ns6:CurrentFinancialInstruments2021-12-3104924810ns6:CurrentFinancialInstruments2020-12-3104924810ns6:Non-currentFinancialInstruments2021-12-3104924810ns6:Non-currentFinancialInstruments2020-12-3104924810ns6:ShareCapital2021-12-3104924810ns6:ShareCapital2020-12-3104924810ns6:RetainedEarningsAccumulatedLosses2021-12-3104924810ns6:RetainedEarningsAccumulatedLosses2020-12-3104924810ns6:FurnitureFittings2021-01-012021-12-3104924810ns6:FurnitureFittings2020-12-3104924810ns6:FurnitureFittings2021-12-3104924810ns6:FurnitureFittings2020-12-3104924810ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104924810ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3104924810ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-12-3104924810ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2020-12-3104924810ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-12-3104924810ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2020-12-3104924810ns11:OrdinaryShareClass12021-12-3104924810ns6:RetainedEarningsAccumulatedLosses2020-12-3104924810ns6:RetainedEarningsAccumulatedLosses2021-01-012021-12-31
REGISTERED NUMBER: 04924810 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SANTOK INVESTMENTS LIMITED

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SANTOK INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Mr V Pau
Mr J Pau





SECRETARY: Mr V Pau





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 04924810 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SANTOK INVESTMENTS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Santok Investments Limited for the year ended 31 December 2021 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Santok Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Santok Investments Limited and state those matters that we have agreed to state to the Board of Directors of Santok Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Santok Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Santok Investments Limited 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 Santok Investments Limited. You consider that Santok Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Santok Investments Limited. 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.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


13 September 2022

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

31/12/21 31/12/20
Notes £ £ £ £
FIXED ASSETS
Property, plant and equipment 4 6,895 10,342
Investment property 5 3,035,000 2,900,000
3,041,895 2,910,342

CURRENT ASSETS
Debtors 6 237,415 733,797
Cash at bank 149,664 41,682
387,079 775,479
CREDITORS
Amounts falling due within one year 7 822,991 1,167,605
NET CURRENT LIABILITIES (435,912 ) (392,126 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,605,983

2,518,216

CREDITORS
Amounts falling due after more than one year 8 (989,656 ) (1,043,303 )

PROVISIONS FOR LIABILITIES (118,882 ) (96,835 )
NET ASSETS 1,497,445 1,378,078

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 1,497,345 1,377,978
SHAREHOLDERS' FUNDS 1,497,445 1,378,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





Mr V Pau - Director


SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Santok Investments Limited 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.

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 represents rents receivable, net of value added tax. Turnover is recognised on a rent receivable basis to the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% on reducing balance

Investment property
Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£
COST
At 1 January 2021
and 31 December 2021 77,167
DEPRECIATION
At 1 January 2021 66,825
Charge for year 3,447
At 31 December 2021 70,272
NET BOOK VALUE
At 31 December 2021 6,895
At 31 December 2020 10,342

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2021 2,900,000
Revaluations 135,000
At 31 December 2021 3,035,000
NET BOOK VALUE
At 31 December 2021 3,035,000
At 31 December 2020 2,900,000

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2021 is represented by:
£
Valuation in 2010 772,130
Valuation in 2012 (362,883 )
Valuation in 2013 (15,000 )
Valuation in 2015 310,000
Valuation in 2016 208,281
Valuation in 2018 49,781
Valuation in 2021 135,000
Cost 1,937,691
3,035,000

The investment properties were valued using RICS valuation standards on 01 September 2016 by Allsop LLP. Directors believe that the properties market value as at balance sheet date is £3,035,000 (2020: £2,900,000)

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£ £
Trade debtors 31,025 25,889
Amounts owed by connected companies 1,090 496,751
Other debtors 205,300 211,157
237,415 733,797

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£ £
Bank loans and overdrafts (see note 9) 80,360 85,364
Trade creditors 718 2,739
Amounts owed to connected companies - 337,909
Tax - 6,530
Social security and other taxes 6,363 1,835
VAT 6,825 6,213
Other creditors 7,607 7,387
Directors' current accounts 683,293 669,117
Deferred income 35,124 47,811
Accrued expenses 2,701 2,700
822,991 1,167,605

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/21 31/12/20
£ £
Bank loans (see note 9) 989,656 1,043,303

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31/12/21 31/12/20
£ £
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 627,496 681,848

9. LOANS

An analysis of the maturity of loans is given below:

31/12/21 31/12/20
£ £
Amounts falling due within one year or on demand:
Bank loans 80,360 85,364

Amounts falling due between one and two years:
Bank loans - 1-2 years 80,360 89,064

Amounts falling due between two and five years:
Bank loans - 2-5 years 281,800 272,391

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 627,496 681,848

10. SECURED DEBTS

The following secured debts are included within creditors:

31/12/21 31/12/20
£ £
Bank loans 1,029,306 1,083,667

Included within bank loans is loan secured by a first legal charge over the investment properties of the company. Bank loan is obtained from Natwest which is repayable by monthly instalments over 20 years and the interest rate of 1.95% over the base rate.

Also included within bank loans is a Covid-19 related bounce back loan. The loan is unsecured and is repayable by May 2026 with interest charge at 2.5% per annum.

SANTOK INVESTMENTS LIMITED (REGISTERED NUMBER: 04924810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/12/21 31/12/20
value: £ £
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£

At 1 January 2021 1,377,978
Profit for the year 119,367
At 31 December 2021 1,497,345

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, amounts owed to Mr V Pau of £546,268 (2020: £544,180) and Mr J Pau of £137,024 (2020: £124,937). The amounts due are repayable on demand.

14. RELATED PARTY DISCLOSURES

Included within the debtors and creditors are amounts due from or to connected companies. Connected companies are companies in which the directors have beneficial interest in. These amounts are interest free and repayable on demand.

15. ULTIMATE CONTROLLING PARTY

The Directors are the ultimate controllers as they own the entire share capital of the company.