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REGISTERED NUMBER: 01153511 (England and Wales)









Financial Statements for the Year Ended 31st March 2023

for

Saigal Properties Limited

Saigal Properties Limited (Registered number: 01153511)

Contents of the Financial Statements
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Saigal Properties Limited

Company Information
for the Year Ended 31st March 2023







Directors: Ms S Khanna
Mrs V Saigal
M Saigal





Secretary: Vitta Advisory Limited





Registered office: 54 Newberries Avenue
Radlett
WD7 7EP





Registered number: 01153511 (England and Wales)





Accountants: Vitta Advisory Limited
54 Newberries Avenue
Radlett
WD7 7EP

Saigal Properties Limited (Registered number: 01153511)

Balance Sheet
31st March 2023

31/3/23 31/3/22
Notes £    £   
Fixed assets
Tangible assets 4 2,100 2,470
Investment property 5 4,531,219 4,531,219
4,533,319 4,533,689

Current assets
Debtors 6 42,401 136,912
Cash at bank 438,281 344,709
480,682 481,621
Creditors
Amounts falling due within one year 7 (42,282 ) (60,338 )
Net current assets 438,400 421,283
Total assets less current liabilities 4,971,719 4,954,972

Creditors
Amounts falling due after more than one
year

8

(720,795

)

(729,641

)
Net assets 4,250,924 4,225,331

Capital and reserves
Called up share capital 30,200 30,200
Fair value reserve 3,784,217 3,784,217
Retained earnings 436,507 410,914
4,250,924 4,225,331

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

Saigal Properties Limited (Registered number: 01153511)

Balance Sheet - continued
31st March 2023


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 3rd November 2023 and were signed on its behalf by:





M Saigal - Director


Saigal Properties Limited (Registered number: 01153511)

Notes to the Financial Statements
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

Saigal 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investment property
Freehold and leasehold Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is accounted for in the income statement. The director considers that this policy results in the accounts showing a true and fair view.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Saigal Properties Limited (Registered number: 01153511)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 708 22,762 23,470
DEPRECIATION
At 1st April 2022 655 20,345 21,000
Charge for year 8 362 370
At 31st March 2023 663 20,707 21,370
NET BOOK VALUE
At 31st March 2023 45 2,055 2,100
At 31st March 2022 53 2,417 2,470

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022
and 31st March 2023 4,531,219
NET BOOK VALUE
At 31st March 2023 4,531,219
At 31st March 2022 4,531,219

In the opinion of the Directors', the valuation of the company's investment properties are not materially different from the amount stated in the financial statements.

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2023 3,784,216
Cost 747,003
4,531,219

Saigal Properties Limited (Registered number: 01153511)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other debtors 5,000 25,000
Directors' current accounts 24,904 98,451
Tax 12,497 12,497
Prepayments and accrued income - 964
42,401 136,912

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 9,000 9,000
Trade creditors - 2,181
Tax 11,929 26,151
Other creditors 14,922 14,922
Wages Payable 4,180 -
Accruals and deferred income 2,251 8,084
42,282 60,338

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans - 1-2 years 709,090 709,090
Bank loans - 2-5 years 11,705 20,551
720,795 729,641

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank loans 729,795 738,641