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REGISTERED NUMBER: 03828677 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SAI CONSTRUCTIONS LIMITED

SAI CONSTRUCTIONS LIMITED (REGISTERED NUMBER: 03828677)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SAI CONSTRUCTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs. M Barai
Mr P Barai
Mrs B Dattani



SECRETARY: Mrs. M Barai



REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH



REGISTERED NUMBER: 03828677 (England and Wales)



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



BANKERS: Barclays Bank Plc
2/4 Aldermans Hill
Palmers Green
London
N13 4PH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SAI CONSTRUCTIONS 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 Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income 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 Sai Constructions Limited for the year ended 31 March 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, 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 Sai Constructions 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 Sai Constructions Limited and state those matters that we have agreed to state to the Board of Directors of Sai Constructions 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 Sai Constructions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sai Constructions 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 Sai Constructions Limited. You consider that Sai Constructions 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 Sai Constructions 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


10 November 2023

SAI CONSTRUCTIONS LIMITED (REGISTERED NUMBER: 03828677)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,817 62,422
Investment property 5 880,000 880,000
926,817 942,422

CURRENT ASSETS
Debtors 6 1,350 1,350
Cash at bank 240,212 214,414
241,562 215,764
CREDITORS
Amounts falling due within one year 7 13,045 12,685
NET CURRENT ASSETS 228,517 203,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,155,334

1,145,501

CREDITORS
Amounts falling due after more than one year 8 (50,475 ) (58,057 )

PROVISIONS FOR LIABILITIES (83,523 ) (86,488 )
NET ASSETS 1,021,336 1,000,956

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 1,021,236 1,000,856
SHAREHOLDERS' FUNDS 1,021,336 1,000,956

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

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

SAI CONSTRUCTIONS LIMITED (REGISTERED NUMBER: 03828677)

BALANCE SHEET - continued
31 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





Mr P Barai - Director


SAI CONSTRUCTIONS LIMITED (REGISTERED NUMBER: 03828677)

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


1. STATUTORY INFORMATION

Sai Constructions 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 rental income and sale of properties, excluding value added tax.

Turnover is recognised when the company has the right to considerations.

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 etc - 25% 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 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 3 (2022 - 3 ) .

SAI CONSTRUCTIONS LIMITED (REGISTERED NUMBER: 03828677)

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


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 83,230
DEPRECIATION
At 1 April 2022 20,808
Charge for year 15,605
At 31 March 2023 36,413
NET BOOK VALUE
At 31 March 2023 46,817
At 31 March 2022 62,422

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 880,000
NET BOOK VALUE
At 31 March 2023 880,000
At 31 March 2022 880,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2004 211,544
Valuation in 2012 91,699
Valuation in 2014 125,000
Valuation in 2015 225,000
Valuation in 2016 40,000
Valuation in 2017 45,000
Valuation in 2019 10,000
Valuation in 2020 (215,000 )
Cost 346,757
880,000

In the opinion of the directors the fair value of the investment properties as at 31 March 2023 is not significantly different to that stated above.

SAI CONSTRUCTIONS LIMITED (REGISTERED NUMBER: 03828677)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accrued income 1,350 1,350

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,582 7,582
Directors' current accounts 2,704 2,704
Accrued expenses 2,759 2,399
13,045 12,685

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 50,475 58,057

9. RESERVES
Retained
earnings
£   

At 1 April 2022 1,000,856
Profit for the year 20,380
At 31 March 2023 1,021,236

Retained earnings includes undistributable profit and loss reserves of £458,615 (2022: £458,615) relating to revaluation of investment properties.

10. ULTIMATE CONTROLLER

Mrs M Barai is the ultimate controller of the company as she holds all the issued share capital of the company.