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REGISTERED NUMBER: 07534229 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Sabena Properties Limited

Sabena Properties Limited (Registered number: 07534229)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sabena Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs Z T Boulton
S J A Powell





REGISTERED OFFICE: Avon House
Hatters Lane
Chipping Sodbury
South Gloucestershire
BS37 6AA





REGISTERED NUMBER: 07534229 (England and Wales)





ACCOUNTANTS: Underwood Lamb Professional Services Ltd
Ground Floor, The Old Barn
Lady Farm
Chelwood
Bristol
BS39 4NN

Sabena Properties Limited (Registered number: 07534229)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14 340
Investment property 5 446,620 446,620
446,634 446,960

CURRENT ASSETS
Debtors 6 771 684
Cash at bank and in hand 1,625,907 2,317,542
1,626,678 2,318,226
CREDITORS
Amounts falling due within one year 7 1,353,081 2,108,298
NET CURRENT ASSETS 273,597 209,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

720,231

656,888

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 720,131 656,788
SHAREHOLDERS' FUNDS 720,231 656,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:



Mrs Z T Boulton - Director


Sabena Properties Limited (Registered number: 07534229)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sabena 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Sabena Properties Limited (Registered number: 07534229)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 4,173
DEPRECIATION
At 1 April 2023 3,833
Charge for year 326
At 31 March 2024 4,159
NET BOOK VALUE
At 31 March 2024 14
At 31 March 2023 340

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 446,620
NET BOOK VALUE
At 31 March 2024 446,620
At 31 March 2023 446,620

The company purchased the freehold property known as Units 3-7, TT Trading Estate, Hatters Lane, Chipping Sodbury, South Gloucestershire from Acraman (482) Limited (in liquidation) in consideration for the allotment to Mrs Z T Boulton (a director) of 99 Ordinary Shares of £1 each in Sabena Properties Ltd.
The market value of the property, as agreed between the parties was £440,000. The directors believe that the original transfer valuation remains a fair representation of the current market value. Improvements to the property have been undertaken since acquisition to the value of £6,620 and again, the directors consider it appropriate to carry the cost value forward as a fair representation of current value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 771 684

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 660 540
Taxation and social security 21,472 13,698
Other creditors 1,330,949 2,094,060
1,353,081 2,108,298

Sabena Properties Limited (Registered number: 07534229)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RESERVES
Retained
earnings
£   

At 1 April 2023 656,788
Profit for the year 64,343
Dividends (1,000 )
At 31 March 2024 720,131

9. RELATED PARTY DISCLOSURES

During the year the company was charged management fees of £12,455 (2023 £5,050) by Dandos Motor Services Ltd, a company in which Z T Boulton, a director of Sabena Properties Ltd, is also a director. The charges were deemed by both parties to be at a market rate for the services provided.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs Z T Boulton.