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REGISTERED NUMBER: 09146353 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

SAA INVESTMENTS LTD

SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 JUNE 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 800 550
Investment property 5 9,359,947 4,192,119
9,360,747 4,192,669

CURRENT ASSETS
Debtors 6 2,917,421 2,004,479
Cash at bank and in hand 10,099 7,484
2,927,520 2,011,963
CREDITORS
Amounts falling due within one year 7 6,052,332 4,066,335
NET CURRENT LIABILITIES (3,124,812 ) (2,054,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,235,935

2,138,297

CREDITORS
Amounts falling due after more than one
year

8

(5,791,297

)

(1,912,801

)

PROVISIONS FOR LIABILITIES 10 (220,811 ) (105,049 )
NET ASSETS 223,827 120,447

CAPITAL AND RESERVES
Called up share capital 390 390
Fair value reserve 11 941,351 447,839
Retained earnings (717,914 ) (327,782 )
223,827 120,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2022


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 3 November 2023 and were signed on its behalf by:





Mr S T Savage - Director


SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 JUNE 2022

1. STATUTORY INFORMATION

SAA Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09146353

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Preparation of consolidated financial statements
The financial statements contain information about SAA Investments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents rent income receivable in respect of the company's investment property. Revenue is recognized evenly over the period of the rental agreement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.


SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 JUNE 2022

2. ACCOUNTING POLICIES - continued
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 material 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 July 2021 550 - 550
Additions - 250 250
At 30 June 2022 550 250 800
NET BOOK VALUE
At 30 June 2022 550 250 800
At 30 June 2021 550 - 550

SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 JUNE 2022

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2021 4,192,119
Additions 4,558,554
Revaluations 609,274
At 30 June 2022 9,359,947
NET BOOK VALUE
At 30 June 2022 9,359,947
At 30 June 2021 4,192,119

Fair value at 30 June 2022 is represented by:
£   
Valuation in 2019 346,906
Valuation in 2020 205,983
Valuation in 2022 609,274
Cost 8,197,784
9,359,947

If Investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 8,197,784 3,639,230

Investment property was valued on an open market basis on 30 June 2022 by by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 906,662 1,065,003
Other debtors 2,010,759 939,476
2,917,421 2,004,479

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 2,245,534 2,116,834
Trade creditors 517,223 81,802
Amounts owed to group undertakings 617,353 -
Other creditors 2,672,222 1,867,699
6,052,332 4,066,335

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 5,791,297 1,912,801

SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 JUNE 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2022 2021
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,874,456 985,624

Repayable by instalments
Bank loans more 5 yr by instal 657,964 657,964

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 7,985,474 3,789,635

Bank loans are secured by way of fixed and floating charge on the property and other assets of the company and contain a negative pledge.

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Other timing differences 220,811 105,049

Deferred
tax
£   
Balance at 1 July 2021 105,049
Provided during year 115,762
Balance at 30 June 2022 220,811

11. RESERVES
Fair
value
reserve
£   
At 1 July 2021 447,839
Movement in the year 493,512

At 30 June 2022 941,351

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

SAA INVESTMENTS LTD (REGISTERED NUMBER: 09146353)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 JUNE 2022

12. RELATED PARTY DISCLOSURES - continued

Included in other debtors due within one year is an amount of £1,899,559 (2021: £829,197) due from connected companies under common control.

Included in other creditors due within one year is an amount of £1,610,959 (2021: £771,268) due to connected companies under common control. Also, included is an amount of £109,194 (2021: £17,088) due to the directors.The loans are interest free and repayable on demand.