1 January 2023 v2024.37.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBP046164352023-01-012023-12-31046164352023-12-3104616435bus:Director12023-01-012023-12-3104616435bus:Director22023-01-012023-12-3104616435bus:Director32023-01-012023-12-3104616435bus:Director42023-01-012023-12-3104616435bus:Director52023-01-012023-12-3104616435bus:Director62023-01-012023-12-3104616435bus:CompanySecretary12023-01-012023-12-3104616435bus:RegisteredOffice2023-01-012023-12-31046164352022-01-012022-12-31046164352022-12-3104616435core:WithinOneYear2023-12-3104616435core:WithinOneYear2022-12-3104616435core:AfterOneYear2023-12-3104616435core:AfterOneYear2022-12-3104616435core:ShareCapital2023-12-3104616435core:ShareCapital2022-12-3104616435core:RetainedEarningsAccumulatedLosses2023-12-3104616435core:RetainedEarningsAccumulatedLosses2022-12-3104616435core:CostValuation2023-12-31046164352023-01-010461643512023-01-012023-12-310461643512023-01-012023-12-3104616435countries:EnglandWales2023-01-012023-12-3104616435bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3104616435bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104616435bus:SmallEntities2023-01-012023-12-3104616435bus:AbridgedAccounts2023-01-012023-12-31
Company registration number:
04616435
Sonam (Oxford) Limited
Unaudited Abridged Financial Statements for the year ended
31 December 2023
Sonam (Oxford) Limited
Officers and Professional Advisers
Year ended
31 December 2023
Directors
Suresh Pabari
Vibha Pabari
Amit Pabari
Sonya Pabari
Sarju Dattani
Sonia Dattani
Company secretary
Suresh Pabari
Registered office
85 Farquhar Road
Edgbaston
Birmingham
B15 2QP
England
Sonam (Oxford) Limited
Directors' Report
Year ended
31 December 2023
The directors present their report and the unaudited
abridged financial statements
of the company for the year ended 31 December 2023.

Directors

The directors who served the company during the year were as follows:
Suresh Pabari
Vibha Pabari
Amit Pabari
Sonya Pabari
Sarju Dattani
Sonia Dattani

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
29 February 2024
and signed on behalf of the board by:
Suresh Pabari
Company secretary
Sonam (Oxford) Limited
Income Statement
Year ended
31 December 2023
20232022
££
Administrative expenses
(59,796
)
(62,192
)
Other operating income
1,077,966
 
927,100
 
Operating profit
1,018,170
 
864,908
 
Other interest receivable and similar income
28,504
 
28,705
 
Interest payable and similar expenses
(335,840
)
(153,929
)
Profit before tax
710,834
 
739,684
 
Tax on profit
(167,192
)
(140,540
)
Profit for the financial year
543,642
 
599,144
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
Sonam (Oxford) Limited
Abridged Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
14,491,149
 
14,491,149
 
Investments 5
258,472
 
258,472
 
14,749,621
 
14,749,621
 
Current assets    
Debtors
23,447
 
12,049
 
Cash at bank and in hand
431,768
 
403,240
 
455,215
 
415,289
 
Creditors: amounts falling due within one year
(5,394,113
)
(3,768,692
)
Net current liabilities
(4,938,898
)
(3,353,403
)
Total assets less current liabilities 9,810,723   11,396,218  
Creditors: amounts falling due after more than one year
(1,932,475
)
(4,061,612
)
Provisions for liabilities
(319,689
)
(319,689
)
Net assets
7,558,559
 
7,014,917
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
7,558,459
 
7,014,817
 
Shareholders funds
7,558,559
 
7,014,917
 
For the year ending
31 December 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 abridged 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 abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 December 2023
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
29 February 2024
, and are signed on behalf of the board by:
Suresh Pabari
Director
Company registration number:
04616435
Sonam (Oxford) Limited
Notes to the Abridged Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
85 Farquhar Road
,
Edgbaston
,
Birmingham
,
B15 2QP
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2022:
6.00
).

5 Fixed assets

Tangible assetsInvestmentsTotal
£££
Cost      
At
1 January 2023
and
31 December 2023
14,491,149
 
258,472
  14,749,621  
Impairment      
At
1 January 2023
and
31 December 2023
-   -   -  
Carrying amount      
At
31 December 2023
14,491,149
 
258,472
 
14,749,621
 
At 31 December 2022
14,491,149
 
258,472
 
14,749,621
 

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
20232022
Tangible assetsInvestmentsTangible assetsInvestments
££££
Aggregate historical cost 12,610,625   258,472   12,610,625   258,472  
Carrying amount 12,610,625   258,472   12,610,625   258,472  

Investment property

Included in tangible assets are the following amounts related to investment properties held at valuation:
2023
£
Carrying amount at
1 January 2023
12,610,625
 
Fair value adjustments
1,880,522
 
Carrying amount at
31 December 2023
14,491,147
 

6 Events after the end of the reporting period

The impact of the Covid-19 pandemic continues to affect the economy. The directors have considered the impact of this to the business after discussion with key stakeholders and are satisfied that at the time of approval of the financial statements the company has sufficient resources to be able to continue trading for the foreseeable future.