0 false false false false false false false false false true false false false false true true No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,763,786 3,763,786 3,763,786 xbrli:pure xbrli:shares iso4217:GBP 09374956 2022-08-01 2023-07-31 09374956 2023-07-31 09374956 2022-07-31 09374956 2021-08-01 2022-07-31 09374956 2022-07-31 09374956 2021-07-31 09374956 bus:Director1 2022-08-01 2023-07-31 09374956 core:WithinOneYear 2023-07-31 09374956 core:WithinOneYear 2022-07-31 09374956 core:AfterOneYear 2023-07-31 09374956 core:AfterOneYear 2022-07-31 09374956 core:ShareCapital 2023-07-31 09374956 core:ShareCapital 2022-07-31 09374956 core:RetainedEarningsAccumulatedLosses 2023-07-31 09374956 core:RetainedEarningsAccumulatedLosses 2022-07-31 09374956 core:CostValuation core:Non-currentFinancialInstruments 2022-07-31 09374956 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-07-31 09374956 core:Non-currentFinancialInstruments 2022-07-31 09374956 bus:Director1 2022-07-31 09374956 bus:Director1 2023-07-31 09374956 bus:Director1 2021-07-31 09374956 bus:Director1 2022-07-31 09374956 bus:Director1 2021-08-01 2022-07-31 09374956 bus:SmallEntities 2022-08-01 2023-07-31 09374956 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 09374956 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09374956 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09374956 bus:FullAccounts 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: 09374956
SAVOY ESTATES LIMITED
Filleted Unaudited Financial Statements
31 July 2023
SAVOY ESTATES LIMITED
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
3,763,786
Current assets
Debtors
5
( 70,710)
2,018
Cash at bank and in hand
1,863
471
--------
-------
( 68,847)
2,489
Creditors: amounts falling due within one year
6
( 5,302)
1,470,671
--------
------------
Net current liabilities
63,545
1,468,182
--------
------------
Total assets less current liabilities
( 63,545)
2,295,604
Creditors: amounts falling due after more than one year
7
33,205
2,378,301
--------
------------
Net liabilities
( 96,750)
( 82,697)
--------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 96,850)
( 82,797)
--------
--------
Shareholders deficit
( 96,750)
( 82,697)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SAVOY ESTATES LIMITED
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 23 April 2024 , and are signed on behalf of the board by:
Vandna Sehgal
Director
Company registration number: 09374956
SAVOY ESTATES LIMITED
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 301 Kenton Lane, Harrow, Middlesex, HA3 8RR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Other investments other than loans
£
Cost
At 1 August 2022
3,763,786
Disposals
( 3,763,786)
------------
At 31 July 2023
------------
Impairment
At 1 August 2022 and 31 July 2023
------------
Carrying amount
At 31 July 2023
------------
At 31 July 2022
3,763,786
------------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
( 72,306)
70
Other debtors
1,596
1,948
--------
-------
( 70,710)
2,018
--------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,947
7,457
Amounts owed to group undertakings and undertakings in which the company has a participating interest
( 10,350)
482,980
Other creditors - desc in a/cs
485,000
Other creditors
1,101
495,234
--------
------------
( 5,302)
1,470,671
--------
------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,205
2,378,301
--------
------------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Vandna Sehgal
( 492,234)
491,883
( 351)
---------
---------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Vandna Sehgal
( 585,816)
93,582
( 492,234)
---------
--------
---------
9. Related party transactions
The company was under the control of C B Retail Ltd throughout the current year and holding 100% shares. Amount owed by C B Retail Ltd at the year end was £10,350 (2022 £482,980) No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.