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REGISTERED NUMBER: 10160048 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SAAFI PROPERTIES LIMITED

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SAAFI PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: M Hassan





REGISTERED OFFICE: 109 Lower Richmond Road
London
SW15 1EU





REGISTERED NUMBER: 10160048 (England and Wales)





ACCOUNTANTS: Jamieson Stone LLP
Windsor House
40/41 Great Castle Street
London
W1W 8LU

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,698,347 1,335,512

CURRENT ASSETS
Debtors 5 34,907 2,003

CREDITORS
Amounts falling due within one year 6 (505,114 ) (472,889 )
NET CURRENT LIABILITIES (470,207 ) (470,886 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,228,140

864,626

CREDITORS
Amounts falling due after more than one
year

7

(1,225,683

)

(854,944

)
NET ASSETS 2,457 9,682

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,456 9,681
SHAREHOLDERS' FUNDS 2,457 9,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 3 October 2023 and were signed by:




M Hassan - Director


SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Saafi Properties 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.

Turnover
Turnover is the total amount receivable by the company excluding value added tax, in the ordinary course of its business for goods supplied and services provided.

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 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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,335,512
Additions 362,835
At 31 May 2023 1,698,347
NET BOOK VALUE
At 31 May 2023 1,698,347
At 31 May 2022 1,335,512

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Director's current accounts 33,065 -
Prepayments and accrued income 1,842 2,003
34,907 2,003

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 344 22,614
Other loans 503,660 288,239
Director's current accounts - 160,621
Accruals and deferred income 1,110 1,415
505,114 472,889

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans due after 5 years
by instalments 1,225,683 854,944
1,225,683 854,944

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years
by instalments 1,225,683 854,944
1,225,683 854,944