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REGISTERED NUMBER: 10448864 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

SAP Group Properties Limited

SAP Group Properties Limited (Registered number: 10448864)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SAP Group Properties Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr T M Sanders





REGISTERED OFFICE: Unit 9 Springlakes Estate, Deadbrook Lan
Aldershot
Hampshire
GU12 4UH





REGISTERED NUMBER: 10448864 (England and Wales)





AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

SAP Group Properties Limited (Registered number: 10448864)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Investment property 4 3,962,001 3,715,858

CURRENT ASSETS
Debtors 5 34,476 19,186
Cash at bank 7,861 3,247
42,337 22,433
CREDITORS
Amounts falling due within one year 6 (213,792 ) (178,214 )
NET CURRENT LIABILITIES (171,455 ) (155,781 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,790,546 3,560,077

CREDITORS
Amounts falling due after more than one year 7 (2,162,008 ) (2,219,804 )

PROVISIONS FOR LIABILITIES (271,686 ) (233,608 )
NET ASSETS 1,356,852 1,106,665

CAPITAL AND RESERVES
Called up share capital 100 100
Investment revaluation reserve 9 882,881 723,098
Retained earnings 473,871 383,467
1,356,852 1,106,665

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 16 April 2024 and were signed by:





Mr T M Sanders - Director


SAP Group Properties Limited (Registered number: 10448864)

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

1. STATUTORY INFORMATION

SAP Group Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover
Turnover comprises revenue recognised by the company in respect of rent received during the year, exclusive of Value Added Tax and trade discounts. Turnover on rental income is recognised on a monthly basis in line with the rental agreement.

Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and 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.


SAP Group Properties Limited (Registered number: 10448864)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 3,715,858
Additions 86,360
Revaluations 159,783
At 31 July 2023 3,962,001
NET BOOK VALUE
At 31 July 2023 3,962,001
At 31 July 2022 3,715,858

The 2023 valuations were made by the director, on an open market value for existing basis.

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2021 955,008
Valuation in 2023 159,783
Cost 2,847,210
3,962,001

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Amounts owed by group undertakings 25,080 15,120
Other debtors 9,396 4,066
34,476 19,186

SAP Group Properties Limited (Registered number: 10448864)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts (see note 8) 179,371 128,135
Amounts owed to group undertakings - 3,000
Taxation and social security 33,323 37,402
Other creditors 1,098 9,677
213,792 178,214

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans (see note 8) 783,758 966,554
Amounts owed to group undertakings 1,378,250 1,253,250
2,162,008 2,219,804

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 245,646 237,263

8. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 179,371 128,135

Amounts falling due between one and two years:
Bank loans - 1-2 years 179,371 130,613

Amounts falling due between two and five years:
Bank loans - 2-5 years 358,741 598,678

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 245,646 237,263

Secured loans
The bank loan is secured by charges over the freehold investment properties.

SAP Group Properties Limited (Registered number: 10448864)

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

9. RESERVES
Investment
revaluation
reserve
£   
At 1 August 2022 723,098
Current year revaluation 159,783

At 31 July 2023 882,881

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited

11. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions within FRS 102 not to report related party transactions with group companies on the grounds that consolidated financial statements are prepared by the parent company and are publicly available.

The parent of both the largest and smallest group for which group accounts including SAP Group Properties Limited are drawn up is Sandhurst Autoprint Limited. Copies of these accounts may be obtained from Companies House, Crown way, Cardiff, CF14 3UZ.

12. ULTIMATE CONTROLLING PARTY

The Company was under the control of T M Sanders throughout the current period. T M Sanders is the sole director and majority shareholder of Sandhurst Autoprint Limited, the parent company.

The ultimate parent company is Sandhurst Autoprint Limited, a company registered in England and Wales.