2022-09-012023-08-312023-08-31false06271900SAFFRON HOMES (UK) 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SAFFRON HOMES (UK) LTD

Registered Number
06271900
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

SAFFRON HOMES (UK) LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

SANDHU, Amritpal Singh
SANDHU, Manjit Kaur
SANDHU, Ravinder
SANDHU, Satinder Singh

Company Secretary

SANDHU, Manjit Kaur

Registered Address

10 Gibbet Hill Road
Coventry
CV4 7AJ

Registered Number

06271900 (England and Wales)
SAFFRON HOMES (UK) LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets54,010,9472,140,132
4,010,9472,140,132
Current assets
Debtors66,25075,321
Cash at bank and on hand38,08572,560
44,335147,881
Creditors amounts falling due within one year7(508,674)(431,328)
Net current assets (liabilities)(464,339)(283,447)
Total assets less current liabilities3,546,6081,856,685
Creditors amounts falling due after one year8(2,524,712)(1,678,067)
Provisions for liabilities9(161,020)-
Net assets860,876178,618
Capital and reserves
Called up share capital100100
Revaluation reserve686,456-
Profit and loss account174,320178,518
Shareholders' funds860,876178,618
The financial statements were approved and authorised for issue by the Board of Directors on 30 November 2023, and are signed on its behalf by:
SANDHU, Satinder Singh
Director
Registered Company No. 06271900
SAFFRON HOMES (UK) LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Land & buildings

Total

££
Cost or valuation
At 01 September 222,153,4822,153,482
Additions980,919980,919
Revaluations913,053913,053
Disposals(25,958)(25,958)
At 31 August 234,021,4964,021,496
Depreciation and impairment
At 01 September 2213,35013,350
Charge for year10,54910,549
On disposals(13,350)(13,350)
At 31 August 2310,54910,549
Net book value
At 31 August 234,010,9474,010,947
At 31 August 222,140,1322,140,132
6.Debtors

2023

2022

££
Prepayments and accrued income6,25075,321
Total6,25075,321
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,384413,765
Taxation and social security12,87215,062
Other creditors490,418-
Accrued liabilities and deferred income-2,501
Total508,674431,328
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts2,354,3811,678,067
Other creditors170,331-
Total2,524,7121,678,067
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)161,020-
Total161,020-