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SANGHA & GILL TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2023






SANGHA & GILL TRADING LIMITED (REGISTERED NUMBER: 02648482)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

SANGHA & GILL TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTORS: R S Sangha
Y Singh





SECRETARY: R S Sangha





REGISTERED OFFICE: Estate Office
Stag Industrial Estate
Oxford Street
Bilston
West Midlands
WV14 7HZ





REGISTERED NUMBER: 02648482 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

SANGHA & GILL TRADING LIMITED (REGISTERED NUMBER: 02648482)

BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,900,000 1,900,000
1,900,000 1,900,000

CURRENT ASSETS
Debtors 6 20,336 25,132
Cash at bank 50,582 46,047
70,918 71,179
CREDITORS
Amounts falling due within one year 7 50,757 46,095
NET CURRENT ASSETS 20,161 25,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,920,161

1,925,084

PROVISIONS FOR LIABILITIES 7,478 7,478
NET ASSETS 1,912,683 1,917,606

CAPITAL AND RESERVES
Called up share capital 8 92,000 92,000
Fair value reserve 9 753,979 753,979
Retained earnings 1,066,704 1,071,627
SHAREHOLDERS' FUNDS 1,912,683 1,917,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

SANGHA & GILL TRADING LIMITED (REGISTERED NUMBER: 02648482)

BALANCE SHEET - continued
30TH SEPTEMBER 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 1st February 2024 and were signed on its behalf by:




R S Sangha - Director



Y Singh - Director


SANGHA & GILL TRADING LIMITED (REGISTERED NUMBER: 02648482)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

1. STATUTORY INFORMATION

Sangha & Gill Trading 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents rents and service recharges receivable from tenants of investment properties, stated net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

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 ) .

SANGHA & GILL TRADING LIMITED (REGISTERED NUMBER: 02648482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st October 2022
and 30th September 2023 18,834
DEPRECIATION
At 1st October 2022
and 30th September 2023 18,834
NET BOOK VALUE
At 30th September 2023 -
At 30th September 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2022
and 30th September 2023 1,900,000
NET BOOK VALUE
At 30th September 2023 1,900,000
At 30th September 2022 1,900,000

Fair value at 30th September 2023 is represented by:
£   
Valuation in 2010 461,457
Valuation in 2022 300,000
Cost 1,138,543
1,900,000

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

2023 2022
£    £   
Cost 1,138,543 1,138,543

Investment properties were valued on a fair value basis basis on 30th September 2023 by Mr R S Sangha, a director .

SANGHA & GILL TRADING LIMITED (REGISTERED NUMBER: 02648482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,593 27,566
Doubtful debt provision (9,257 ) (5,416 )
Prepayments - 2,982
20,336 25,132

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 15,000 15,000
Trade creditors - 2,990
Amounts owed to related companies 750 -
Corporation tax 31,145 24,822
Tenants receipts in advance 2,170 1,600
Accruals and deferred income 1,692 1,683
50,757 46,095

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
92,000 Ordinary £1 92,000 92,000

9. RESERVES
Fair
value
reserve
£   
At 1st October 2022
and 30th September 2023 753,979

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SANGHA & GILL TRADING 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 Sangha & Gill Trading Limited for the year ended 30th September 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 Sangha & Gill Trading 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 Sangha & Gill Trading Limited and state those matters that we have agreed to state to the Board of Directors of Sangha & Gill Trading 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 Sangha & Gill Trading Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sangha & Gill Trading 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 Sangha & Gill Trading Limited. You consider that Sangha & Gill Trading 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 Sangha & Gill Trading 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.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


6th February 2024