Company registration number 10958111 (England and Wales)
SD PROPERTY INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SD PROPERTY INVESTMENTS LTD
COMPANY INFORMATION
Director
Mr R Singh
Company number
10958111
Registered office
25 Greenwich Church Street
Greenwich
London
SE10 9BJ
Accountants
Sasson & Co.
Chartered Accountants
Fuel Tank
Studio B105
8-12 Creekside
England
SE8 3DX
SD PROPERTY INVESTMENTS LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

The director presents his annual report and financial statements for the year ended 30 September 2023.

Principal activities

The principal activity of the company continued to be that of land and property investments and letting activities.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr R Singh
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr R Singh
Director
22 July 2024
SD PROPERTY INVESTMENTS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
4,400,000
3,159,350
Current assets
Debtors
4
7,900
4,748
Cash at bank and in hand
2,152
-
0
10,052
4,748
Creditors: amounts falling due within one year
5
(185,740)
(122,315)
Net current liabilities
(175,688)
(117,567)
Total assets less current liabilities
4,224,312
3,041,783
Creditors: amounts falling due after more than one year
(2,818,754)
(2,929,495)
Provisions for liabilities
7
(310,162)
-
0
Net assets
1,095,396
112,288
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,094,396
111,288
Total equity
1,095,396
112,288

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SD PROPERTY INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 22 July 2024
Mr R  Singh
Director
Company Registration No. 10958111
SD PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information

SD Property Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 25 Greenwich Church Street, Greenwich, London, SE10 9BJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SD PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 October 2022
3,159,350
Revaluations
1,240,650
At 30 September 2023
4,400,000

The commercial investment properties are valued at £4,4000,000. The fair value is based on assurance provided by the director, R Singh, after consultation with his property agents and valuers, J Miles of Miles & Company, who are not connected to SD Property Investments Ltd, on 30 September 2023.

 

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
7,900
4,748
SD PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6
145,466
98,186
Corporation tax
35,194
19,157
Accruals and deferred income
5,080
4,972
185,740
122,315
6
Loans and overdrafts
2023
2022
£
£
Bank loans
1,368,162
1,369,554
Bank overdrafts
135,466
19,286
Other loans - Family
750,190
804,108
2,253,818
2,192,948
Payable within one year
145,466
98,186
Payable after one year
2,108,352
2,094,762
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Revaluations
310,162
-
2023
Movements in the year:
£
Liability at 1 October 2022
-
Charge to profit or loss
310,162
Liability at 30 September 2023
310,162

The deferred tax liability set out above is expected to reverse and relates to accelerated capital allowances that are expected to mature within the same period.

SD PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
8
Approval of financial statements
The director approved the financial statements on 22 July 2024.
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