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REGISTERED NUMBER: 12153798 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SD PROPERTY LTD

SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

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










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SD PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr P Hathi
Mrs P Hathi





REGISTERED OFFICE: 505 Pinner Road
Harrow
HA2 6EH





REGISTERED NUMBER: 12153798 (England and Wales)





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

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SD PROPERTY LTD


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 Statement of Financial Position. Readers are cautioned that the Income Statement 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 SD Property Ltd for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position 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 SD Property Ltd, 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 SD Property Ltd and state those matters that we have agreed to state to the Board of Directors of SD Property Ltd, 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 SD Property Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SD Property Ltd 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 SD Property Ltd. You consider that SD Property Ltd 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 SD Property Ltd. 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


11 November 2023

SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31/3/23 31/3/22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 3,642 4,553
Investment property 5 800,000 800,000
803,642 804,553

CURRENT ASSETS
Debtors 6 208,471 2,000
Cash at bank 9,996 206,231
218,467 208,231
CREDITORS
Amounts falling due within one year 7 330,599 330,143
NET CURRENT LIABILITIES (112,132 ) (121,912 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

691,510

682,641

CREDITORS
Amounts falling due after more than one
year

8

(644,138

)

(649,740

)

PROVISIONS FOR LIABILITIES (13,128 ) (13,128 )
NET ASSETS 34,244 19,773

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 34,242 19,771
SHAREHOLDERS' FUNDS 34,244 19,773

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.

SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

STATEMENT OF FINANCIAL POSITION - 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 Board of Directors and authorised for issue on 11 November 2023 and were signed on its behalf by:





Mr P Hathi - Director


SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

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


1. STATUTORY INFORMATION

SD Property Ltd 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 rent receivable, net of value added tax.

Turnover is recognised when the company has a right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Fixtures & fittings - 20% reducing balance method.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all 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.

3. EMPLOYEES AND DIRECTORS

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

SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2022
and 31 March 2023 6,789
DEPRECIATION
At 1 April 2022 2,236
Charge for year 911
At 31 March 2023 3,147
NET BOOK VALUE
At 31 March 2023 3,642
At 31 March 2022 4,553

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022
and 31 March 2023 800,000
NET BOOK VALUE
At 31 March 2023 800,000
At 31 March 2022 800,000

Fair value at 31 March 2023 is represented by:
£
Valuation in 2021 69,096
Cost 730,904
800,000

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£ £
Trade debtors 1,471 -
Amounts owed by connected companies 205,000 -
Other debtors 2,000 2,000
208,471 2,000

SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£ £
Bank loans and overdrafts 5,093 4,630
Amounts owed to connected companies 207,500 207,500
Other creditors - 133
Directors' current accounts 116,479 116,479
Accruals and deferred income 1,527 1,401
330,599 330,143

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£ £
Bank loans - 1-2 years 5,093 4,630
Bank loans - 2-5 years 15,278 13,890
Bank loans more 5 yr by instal 14,815 22,220
Bank loans more 5 yrs non-inst 608,952 609,000
644,138 649,740

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 608,952 609,000

Repayable by instalments
Bank loans more 5 yr by instal 14,815 22,220

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£ £
Bank loan 608,952 609,000

The existing bank loan was refinanced during year. The new bank loan is secured by a fixed charge over the investment property of the company. Interest is charged at a fixed rate of 3.95% per annum. The bank loan is repayable over 25 years.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £ £
2 Ordinary 1 2 2

SD PROPERTY LTD (REGISTERED NUMBER: 12153798)

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


11. RESERVES
Retained
earnings
£

At 1 April 2022 19,771
Profit for the year 14,471
At 31 March 2023 34,242

Retained earnings includes undistributable profit and loss reserve of £55,968 (2022: £55,968) relating to revaluation of investment property.

12. RELATED PARTY DISCLOSURES

At the year end, the company owed £207,500 (2022: £207,500) to Diginify Ltd, a company in which the directors have a beneficial interest.The amount owed is repayable on demand.

At the year end, the company was owed £205,000 (2022: £Nil) by N&P Estates Ltd, a company in which one of the directors has a beneficial interest.The amount owed is interest free and receivable on demand.