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REGISTERED NUMBER: SC383078 (Scotland)










Strategic Report, Report of the Directors and

Audited Financial Statements

for the Period 31 August 2022 to 29 August 2023

for

Sava Estates Limited

Sava Estates Limited (Registered number: SC383078)






Contents of the Financial Statements
for the Period 31 August 2022 to 29 August 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


Sava Estates Limited

Company Information
for the Period 31 August 2022 to 29 August 2023







DIRECTORS: A K Lal
Mrs H B Lal
Mrs S R Lal





REGISTERED OFFICE: Ground Floor (part)
Unit 8000 Academy Business Park
51 Gower Street
Glasgow
G51 1PR





REGISTERED NUMBER: SC383078 (Scotland)





AUDITORS: TB Dunn & Co
Statutory Auditor
Ground Floor (part)
8000 Academy Business Park
51 Gower Street
GLASGOW
G51 1PR

Sava Estates Limited (Registered number: SC383078)

Strategic Report
for the Period 31 August 2022 to 29 August 2023

The directors present their strategic report for the period 31 August 2022 to 29 August 2023.

REVIEW OF BUSINESS
The company operates a property development company across Scotland.

The company has continued to expanded it's investment portfolio during the year.

Business Model, Market and Trends
The company invests in both commercial and residential properties.

The directors closely monitor the property market as part of its every day management and regularly review rental property returns.

Objectives

The directors continued to strengthen the balance sheet by improving the quality of assets within the stock and investment portfolio. This has resulted in the value of the company's stock and investment portfolio increasing from £41,607,353 to £43,561,144. This was achieved despite the difficult worldwide conditions.

Since the year end the directors have continued to strengthen the balance sheet by selling selected properties. This has resulted in the company being in a strong position to exploit favourable market conditions in future.


Key performance indicators

As noted above, the key performance indicator is the continued growth of the company's investment portfolio.

As shown on the Income Statement on page 9, the turnover relating to disposal of non investment property and rental remains healthy at £11,566,651 this year.

PRINCIPAL RISKS AND UNCERTAINTIES
The Board believes the main risk is the impact of the increase in the Bank of England base rate on the property market. Post year end the impact on our business results has been limited. The directors will continue to closely monitor the property market as part of its every day management and will regularly review rental property returns.

ON BEHALF OF THE BOARD:





A K Lal - Director


6 June 2024

Sava Estates Limited (Registered number: SC383078)

Report of the Directors
for the Period 31 August 2022 to 29 August 2023

The directors present their report with the financial statements of the company for the period 31 August 2022 to 29 August 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of property development company.

DIVIDENDS
No dividends will be distributed for the period ended 29 August 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 31 August 2022 to the date of this report.

A K Lal
Mrs H B Lal

Other changes in directors holding office are as follows:

Mrs S R Lal - appointed 23 February 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Sava Estates Limited (Registered number: SC383078)

Report of the Directors
for the Period 31 August 2022 to 29 August 2023


AUDITORS
The auditors, TB Dunn & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




A K Lal - Director


6 June 2024

Report of the Independent Auditors to the Members of
Sava Estates Limited

Opinion
We have audited the financial statements of Sava Estates Limited (the 'company') for the period ended 29 August 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29 August 2023 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Sava Estates Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Sava Estates Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which the audit is considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatements of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we consider the following:
- the nature of the industry and sector, control environment and business performance including the key drivers for Directors' remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks irregularities;
- any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we consider the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the cut-off of revenue recognition. In common with all audits under ISAs(UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosure in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, tax legislation and Health and Safety legislation.

In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provision of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meeting of those charged with governance;
- in addressing the fraud risk in revenue cut-off, we have tested a sample of revenue/stock recorded pre year end and post year end and agreed to invoice, and stock records to assess timing or cut-off and ensure that revenue is only recognised when property titles have been transferred; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations through the audit.


Report of the Independent Auditors to the Members of
Sava Estates Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Blair FCCA (Senior Statutory Auditor)
for and on behalf of TB Dunn & Co
Statutory Auditor
Ground Floor (part)
8000 Academy Business Park
51 Gower Street
GLASGOW
G51 1PR

6 June 2024

Sava Estates Limited (Registered number: SC383078)

Income Statement
for the Period 31 August 2022 to 29 August 2023

Period
31.8.22
to Year Ended
29.8.23 30.8.22
Notes £    £   

TURNOVER 11,566,651 12,544,666

Cost of sales 8,188,150 8,567,468
GROSS PROFIT 3,378,501 3,977,198

Administrative expenses 437,741 485,816
2,940,760 3,491,382

Other operating income 625,324 316,337
Gain on disposal of investment property 660,357 2,514,236
OPERATING PROFIT 5 4,226,441 6,321,955

Interest receivable and similar income 1,618 -
PROFIT BEFORE TAXATION 4,228,059 6,321,955

Tax on profit 6 908,700 1,198,884
PROFIT FOR THE FINANCIAL PERIOD 3,319,359 5,123,071

Sava Estates Limited (Registered number: SC383078)

Other Comprehensive Income
for the Period 31 August 2022 to 29 August 2023

Period
31.8.22
to Year Ended
29.8.23 30.8.22
Notes £    £   

PROFIT FOR THE PERIOD 3,319,359 5,123,071


OTHER COMPREHENSIVE INCOME
Revaluation of investment property (836,554 ) (2,490,752 )
Income tax relating to other comprehensive
income

(18,128

)

473,243
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF INCOME
TAX


(854,682


)


(2,017,509


)
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

2,464,677

3,105,562

Sava Estates Limited (Registered number: SC383078)

Balance Sheet
29 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 48 596
Tangible assets 8 - -
Investment property 9 39,292,601 37,793,708
39,292,649 37,794,304

CURRENT ASSETS
Stocks 10 4,268,543 3,813,645
Debtors 11 2,714,948 1,157,538
Cash at bank 1,192,959 50,073
8,176,450 5,021,256
CREDITORS
Amounts falling due within one year 12 7,702,882 5,532,148
NET CURRENT ASSETS/(LIABILITIES) 473,568 (510,892 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,766,217

37,283,412

PROVISIONS FOR LIABILITIES 13 1,522,831 1,504,703
NET ASSETS 38,243,386 35,778,709

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 38,243,286 35,778,609
SHAREHOLDERS' FUNDS 38,243,386 35,778,709

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2024 and were signed on its behalf by:





A K Lal - Director


Sava Estates Limited (Registered number: SC383078)

Statement of Changes in Equity
for the Period 31 August 2022 to 29 August 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 31 August 2021 100 32,673,047 32,673,147

Changes in equity
Total comprehensive income - 3,105,562 3,105,562
Balance at 30 August 2022 100 35,778,609 35,778,709

Changes in equity
Total comprehensive income - 2,464,677 2,464,677
Balance at 29 August 2023 100 38,243,286 38,243,386

Sava Estates Limited (Registered number: SC383078)

Cash Flow Statement
for the Period 31 August 2022 to 29 August 2023

Period
31.8.22
to Year Ended
29.8.23 30.8.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,727,703 3,103,488
Tax paid (791,080 ) (742,815 )
Net cash from operating activities 2,936,623 2,360,673

Cash flows from investing activities
Purchase of investment property (4,945,909 ) (11,013,757 )
Sale of investment property 3,270,819 7,613,532
Interest received 1,618 -
Net cash from investing activities (1,673,472 ) (3,400,225 )

Cash flows from financing activities
Amount introduced by directors 61,400 -
Amount withdrawn by directors (181,665 ) (50,702 )
Net cash from financing activities (120,265 ) (50,702 )

Increase/(decrease) in cash and cash equivalents 1,142,886 (1,090,254 )
Cash and cash equivalents at beginning of
period

2

50,073

1,140,327

Cash and cash equivalents at end of
period

2

1,192,959

50,073

Sava Estates Limited (Registered number: SC383078)

Notes to the Cash Flow Statement
for the Period 31 August 2022 to 29 August 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period
31.8.22
to Year Ended
29.8.23 30.8.22
£    £   
Profit before taxation 4,228,059 6,321,955
Depreciation charges 548 1,021
Gain on revaluation of fixed assets (660,357 ) (2,514,236 )
Finance income (1,618 ) -
3,566,632 3,808,740
Increase in stocks (454,898 ) (2,641,205 )
(Increase)/decrease in trade and other debtors (1,392,983 ) 675,314
Increase in trade and other creditors 2,008,952 1,260,639
Cash generated from operations 3,727,703 3,103,488

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 29 August 2023
29.8.23 31.8.22
£    £   
Cash and cash equivalents 1,192,959 50,073
Year ended 30 August 2022
30.8.22 31.8.21
£    £   
Cash and cash equivalents 50,073 1,140,327


3. ANALYSIS OF CHANGES IN NET FUNDS

At 31.8.22 Cash flow At 29.8.23
£    £    £   
Net cash
Cash at bank 50,073 1,142,886 1,192,959
50,073 1,142,886 1,192,959
Total 50,073 1,142,886 1,192,959

Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements
for the Period 31 August 2022 to 29 August 2023

1. STATUTORY INFORMATION

Sava Estates Limited is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

Turnover
Turnover represents the sale of properties held for resale together with rental income. Turnover relating to the sale of properties is recognised when the contract is legally binding. Rental income is recognised in the period it relates to.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33.33% on cost

Impairment of fixed assets
At each reporting date, the company reviewed the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it's not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 29 August 2023

3. ACCOUNTING POLICIES - continued

Investment property
Investment property are properties which the company is receiving rental income for and the Directors believe will not be sold in the foreseeable future.

Investment property is stated at fair value. Changes in fair value are recognised in the Statement of Comprehensive Income.

Stock
Property which the company purchased with a view to being sold are held as stock. Stock is valued at the lower of cost and estimated selling price less costs to complete and sell.

Stock which becomes investment property is transferred at fair value with the gain shown in the Trading and Profit and Loss Account.

Taxation
Taxation for the period 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 period 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.

Debtors
Short-term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalent 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.

4. EMPLOYEES AND DIRECTORS
Period
31.8.22
to Year Ended
29.8.23 30.8.22
£    £   
Social security costs 338 354

Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 29 August 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period
31.8.22
to Year Ended
29.8.23 30.8.22

Directors 3 2

Period
31.8.22
to Year Ended
29.8.23 30.8.22
£    £   
Directors' remuneration 2,514 1,953

5. OPERATING PROFIT

The operating profit is stated after charging:

Period
31.8.22
to Year Ended
29.8.23 30.8.22
£    £   
Computer software amortisation 548 1,020
Auditors' remuneration 6,000 6,000
Other non- audit services 33,952 33,830

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
31.8.22
to Year Ended
29.8.23 30.8.22
£    £   
Current tax:
UK corporation tax 908,700 1,198,884
Tax on profit 908,700 1,198,884

Tax effects relating to effects of other comprehensive income

31.8.22 to 29.8.23
Gross Tax Net
£    £    £   
Revaluation of investment property (836,554 ) (18,128 ) (854,682 )


Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 29 August 2023

6. TAXATION - continued
2022
Gross Tax Net
£    £    £   
Revaluation of investment property (2,490,752 ) 473,243 (2,017,509 )

7. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 31 August 2022
and 29 August 2023 5,104
AMORTISATION
At 31 August 2022 4,508
Amortisation for period 548
At 29 August 2023 5,056
NET BOOK VALUE
At 29 August 2023 48
At 30 August 2022 596

8. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 31 August 2022
and 29 August 2023 3,200 1,480 4,680
DEPRECIATION
At 31 August 2022
and 29 August 2023 3,200 1,480 4,680
NET BOOK VALUE
At 29 August 2023 - - -
At 30 August 2022 - - -

Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 29 August 2023

9. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 August 2022 37,793,708
Additions 4,945,909
Disposals (2,610,462 )
Revaluations (836,554 )
At 29 August 2023 39,292,601
NET BOOK VALUE
At 29 August 2023 39,292,601
At 30 August 2022 37,793,708

Fair value at 29 August 2023 is represented by:
£   
Valuation in 2023 39,292,601

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 34,820,127 29,874,218

Investment property was valued on a fair value basis on 29 August 2023 by independent valuers Shepherd Commercial .

10. STOCKS
2023 2022
£    £   
Finished goods 4,268,543 3,813,645

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,373,604 683,848
Directors' loan accounts 122,936 -
Tax 41,491 -
VAT - 214,203
Prepayments 176,917 259,487
2,714,948 1,157,538

Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 29 August 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 30,088 43,616
Tax 2,183,559 2,024,448
VAT 213,381 -
Other creditors 4,174,546 3,074,594
Directors' loan accounts 2,671 -
Accrued expenses 1,098,637 389,490
7,702,882 5,532,148

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,522,831 1,504,703

Deferred
tax
£   
Balance at 31 August 2022 1,504,703
Provided during period 18,128
Balance at 29 August 2023 1,522,831

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

15. RESERVES
Retained
earnings
£   

At 31 August 2022 35,778,609
Profit for the period 3,319,359
Revaluation in year (854,682 )
At 29 August 2023 38,243,286

16. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 166,500 -

Sava Estates Limited (Registered number: SC383078)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 29 August 2023

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29 August 2023 and the year ended 30 August 2022:

2023 2022
£    £   
A K Lal
Balance outstanding at start of period - -
Amounts advanced 122,936 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 122,936 -

18. RELATED PARTY DISCLOSURES


Entities with control, joint control or significant influence over the entity

2023 2022
£    £   
Consultancy fees 40,000 40,000
Amount due from related party 780,836 421,316
Amount due to related party 4,174,546 3,074,594

The balances are not secured, have no fixed repayment terms and no guarantees were given or received. There were no transactions or remuneration paid to key management personnel.