SAI NIVAS PROPERTIES LIMITED

Company Registration Number:
10734112 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2023

Period of accounts

Start date: 01 May 2022

End date: 30 April 2023

SAI NIVAS PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2023

Balance sheet
Notes

SAI NIVAS PROPERTIES LIMITED

Balance sheet

As at 30 April 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 938,367 846,603
Total fixed assets: 938,367 846,603
Current assets
Cash at bank and in hand: 18,152 9,604
Total current assets: 18,152 9,604
Creditors: amounts falling due within one year:   (28,507) (27,790)
Net current assets (liabilities): (10,355) (18,186)
Total assets less current liabilities: 928,012 828,417
Creditors: amounts falling due after more than one year:   (796,995) (731,975)
Total net assets (liabilities): 131,017 96,442
Capital and reserves
Called up share capital: 150 150
Profit and loss account: 130,867 96,292
Shareholders funds: 131,017 96,442

The notes form part of these financial statements

SAI NIVAS PROPERTIES LIMITED

Balance sheet statements

For the year ending 30 April 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 October 2023
and signed on behalf of the board by:

Name: Mr M M Visana
Status: Director

The notes form part of these financial statements

SAI NIVAS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

TurnoverTurnover is recognised at the fair value of the rent received or receivable from the letting of investmentproperties.

Valuation and information policy

Investment propertiesInvestment properties, which are properties held to earn rentals and/or for capital appreciation, are initiallyrecognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequentlythey are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised inthe profit and loss account.

Other accounting policies

Financial instrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party tothe contractual provisions of the instrument.Basic financial assetsBasic financial assets are initially measured at transaction price including transaction costs and aresubsequently carried at amortised cost using the effective interest method unless the arrangement constitutesa financing transaction, where the transaction is measured at the present value of the future receiptsdiscounted at a market rate of interest. Financial assets classified as receivable within one year are notamortised.Derecognition of financial assetsFinancial assets are derecognised only when the contractual rights to the cash flows from the asset expire orare settled, or when the company transfers the financial asset and substantially all the risks and rewards ofownership to another entity, or if some significant risks and rewards of ownership are retained but control ofthe asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.Basic financial liabilitiesBasic financial liabilities are initially recognised at transaction price unless the arrangement constitutes afinancing transaction, where the debt instrument is measured at the present value of the future paymentsdiscounted at a market rate of interest. Financial liabilities classified as payable within one year are notamortised.Derecognition of financial liabilitiesFinancial liabilities are derecognised when the company’s contractual obligations expire or are discharged orcancelled.TaxationThe tax expense represents the sum of the tax currently payable.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit asreported in the profit and loss account because it excludes items of income or expense that are taxable ordeductible in other years and it further excludes items that are never taxable or deductible. The company’sliability for current tax is calculated using tax rates that have been enacted or substantively enacted by thereporting end date.

SAI NIVAS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

SAI NIVAS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Tangible Assets

Total
Cost £
At 01 May 2022 846,603
Additions 91,764
At 30 April 2023 938,367
Net book value
At 30 April 2023 938,367
At 30 April 2022 846,603

Investment properties comprises of commercial and residential buildings. The fair value of the investmentproperties have been determined by the directors. The valuation was made on an open market value basis byreference to market evidence of transaction prices for similar properties.

SAI NIVAS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: At the balance sheet date, £796,995 (2022 - £731,975) was owed to the directors, who are also the soleshareholders. The unsecured loan is provided free of any interest charge and without any repayment terms.
£
Balance at 01 May 2022 731,975
Balance at 30 April 2023 796,995
Name of the related party:
Relationship:
Related party company
Description of the Transaction: At the balance sheet date £15,000 (2022 - £15,000) was owed to a related party company. The company iscontrolled by certain directors. The unsecured loan is provided free of any interest charge and without anyrepayment terms.
£
Balance at 01 May 2022 15,000
Balance at 30 April 2023 15,000