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REGISTERED NUMBER: 08306187 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Saff United Limited

Saff United Limited (Registered number: 08306187)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Saff United Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: F Bahaduri





REGISTERED OFFICE: 50 King Street
Southall
Middlesex
UB2 4DB





REGISTERED NUMBER: 08306187 (England and Wales)





ACCOUNTANTS: Kumar Strategic Consultants Ltd
Chartered Accountants
255 - 261 Horn Lane
London
W3 9EH

Saff United Limited (Registered number: 08306187)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,000,000 3,850,000

CURRENT ASSETS
Debtors 5 25,437 18,837
Cash at bank 113,594 87,002
139,031 105,839
CREDITORS
Amounts falling due within one year 6 57,734 63,816
NET CURRENT ASSETS 81,297 42,023
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,081,297

3,892,023

CREDITORS
Amounts falling due after more than one
year

7

(2,126,193

)

(2,126,193

)

PROVISIONS FOR LIABILITIES (255,891 ) (227,391 )
NET ASSETS 1,699,213 1,538,439

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable profits 8 1,090,902 969,402
Retained earnings 608,211 568,937
SHAREHOLDERS' FUNDS 1,699,213 1,538,439

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 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.

Saff United Limited (Registered number: 08306187)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





F Bahaduri - Director


Saff United Limited (Registered number: 08306187)

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

1. STATUTORY INFORMATION

Saff United 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.

The accounts have been prepared on the going concern basis. In assessing whether the going concern assumption is appropriate, the director has taken into account all relevant information about the future trading including profit and cash forecasts. The business is making profits and cash generative and this is expected to continue. It is therefore considered appropriate to adopt the going concern basis of accounting in the preparation of the financial statements.

Turnover
Rental income is recognised on an accrual basis. Rents receivable from tenants represents rents and service charges receivable in the period.

Where a rent-free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earliest termination date.

Rental income from fixed and minimum guaranteed rent reviews is recognised on a straight-line basis over the shorter of the entire lease term or the period to the first break option. Where such rental income
is recognised ahead of the related cash flow, an adjustment is made to ensure the carrying value of the related property including the accrued rent does not exceed the external valuation.Initial direct costs incurred in negotiating and arranging a new lease are amortised on a straight-line basis over the period from the date of lease commencement to the earliest termination date.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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.


Saff United Limited (Registered number: 08306187)

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

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,850,000
Revaluations 150,000
At 31 March 2023 4,000,000
NET BOOK VALUE
At 31 March 2023 4,000,000
At 31 March 2022 3,850,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2018 174,470
Valuation in 2019 472,243
Valuation in 2022 550,000
Valuation in 2023 150,000
Cost 2,653,287
4,000,000

If investment properties had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,653,287 2,653,287

Investment properties were valued on an open market basis on 31 March 2023 by the director of the company .

Saff United Limited (Registered number: 08306187)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,000 12,000
Other debtors 5,437 6,837
25,437 18,837

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 9,681 17,442
Social security and other taxes (609 ) -
Other creditors 10,481 11,861
Net Wages - 170
Pension creditors - 139
Directors' current accounts 34,807 30,892
Accrued expenses 3,374 3,312
57,734 63,816

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans 2,126,193 2,126,193

8. RESERVES
Non-distribu
profits
£   
At 1 April 2022 969,402
Non-distributable profits 121,500

At 31 March 2023 1,090,902