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REGISTERED NUMBER: 07851047 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

SAFIRA PROPERTIES LIMITED

SAFIRA PROPERTIES LIMITED (REGISTERED NUMBER: 07851047)






Contents of the Financial Statements
for the year ended 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAFIRA PROPERTIES LIMITED

Company Information
for the year ended 30 NOVEMBER 2023







DIRECTORS: J.J. Horsman
J.C. Horsman





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 07851047 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

SAFIRA PROPERTIES LIMITED (REGISTERED NUMBER: 07851047)

Statement of Financial Position
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £   
FIXED ASSETS
Investment property 4 2,323,452 2,323,452

CURRENT ASSETS
Cash at bank 11,442 -

CREDITORS
Amounts falling due within one year 5 (134,445 ) (39,015 )
NET CURRENT LIABILITIES (123,003 ) (39,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,200,449

2,284,437

CREDITORS
Amounts falling due after more than one
year

6

(1,848,389

)

(1,848,389

)

PROVISIONS FOR LIABILITIES 7 (123,650 ) (123,650 )
NET ASSETS 228,410 312,398

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 399,429 399,429
Retained earnings 9 (171,119 ) (87,131 )
SHAREHOLDERS' FUNDS 228,410 312,398

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

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

SAFIRA PROPERTIES LIMITED (REGISTERED NUMBER: 07851047)

Statement of Financial Position - continued
30 NOVEMBER 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 19 August 2024 and were signed on its behalf by:





J.J. Horsman - Director


SAFIRA PROPERTIES LIMITED (REGISTERED NUMBER: 07851047)

Notes to the Financial Statements
for the year ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Safira 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.

Turnover
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date.

Investment property
Investment properties are revalued annually at their open market value in accordance with FRS 102 Section 1A. The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Cash and cash equivalent
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

SAFIRA PROPERTIES LIMITED (REGISTERED NUMBER: 07851047)

Notes to the Financial Statements - continued
for the year ended 30 NOVEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,323,452
NET BOOK VALUE
At 30 November 2023 2,323,452
At 30 November 2022 2,323,452

The directors are of the opinion that the property value of £2,323,452 is a fair approximation of the current market value.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2016 119,599
Valuation in 2020 375,000
Cost 1,828,853
2,323,452

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Directors' current accounts 132,285 36,855
Accrued expenses 2,160 2,160
134,445 39,015

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Other creditors 1,848,389 1,848,389

7. PROVISIONS FOR LIABILITIES
30/11/23 30/11/22
£    £   
Deferred tax 123,650 123,650

Deferred
tax
£   
Balance at 1 December 2022 123,650
Balance at 30 November 2023 123,650

SAFIRA PROPERTIES LIMITED (REGISTERED NUMBER: 07851047)

Notes to the Financial Statements - continued
for the year ended 30 NOVEMBER 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
100 ordinary shares 1 100 100

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2022 (87,131 ) 399,429 312,298
Deficit for the year (83,988 ) (83,988 )
At 30 November 2023 (171,119 ) 399,429 228,310

10. RELATED PARTY DISCLOSURES

Creditors consists of funds of £1,980,674 (2022: 1,885,244) owed to directors.

11. ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of their direct interest in the whole of the issued share capital.