SATSU Property Investments Ltd 11565087 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true 11565087 2023-04-01 2024-03-31 11565087 2024-03-31 11565087 bus:OrdinaryShareClass1 2024-03-31 11565087 core:RetainedEarningsAccumulatedLosses 2024-03-31 11565087 core:ShareCapital 2024-03-31 11565087 core:CurrentFinancialInstruments 2024-03-31 11565087 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11565087 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11565087 core:LandBuildings 2024-03-31 11565087 bus:SmallEntities 2023-04-01 2024-03-31 11565087 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11565087 bus:FilletedAccounts 2023-04-01 2024-03-31 11565087 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11565087 bus:RegisteredOffice 2023-04-01 2024-03-31 11565087 bus:Director1 2023-04-01 2024-03-31 11565087 bus:Director2 2023-04-01 2024-03-31 11565087 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11565087 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11565087 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11565087 core:ShareCapital 2023-04-01 2024-03-31 11565087 countries:AllCountries 2023-04-01 2024-03-31 11565087 2023-03-31 11565087 core:RetainedEarningsAccumulatedLosses 2023-03-31 11565087 core:ShareCapital 2023-03-31 11565087 core:LandBuildings 2023-03-31 11565087 2022-04-01 2023-03-31 11565087 2023-03-31 11565087 bus:OrdinaryShareClass1 2023-03-31 11565087 core:CurrentFinancialInstruments 2023-03-31 11565087 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11565087 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11565087 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11565087

SATSU Property Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

SATSU Property Investments Ltd

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 6

 

SATSU Property Investments Ltd

Company Information
__________________________________________________________________________

Directors

Mr S Sharma

Mrs S Sharma

Registered office

9 Southover
Woodside Park
London
N12 7JG


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

SATSU Property Investments Ltd

(Registration number: 11565087)
Balance Sheet as at 31 March 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

2,182,456

 

2,182,456

Current assets

   

 

Debtors

4

2

 

2

 

Cash at bank and in hand

 

121,847

 

37,742

 

 

121,849

 

37,744

 

Creditors: Amounts falling due within one year

5

(921,480)

 

(872,160)

 

Net current liabilities

   

(799,631)

 

(834,416)

Total assets less current liabilities

   

1,382,825

 

1,348,040

Creditors: Amounts falling due after more than one year

5

 

(1,355,551)

 

(1,355,462)

Net assets/(liabilities)

   

27,274

 

(7,422)

Capital and reserves

   

 

Called up share capital

6

2

 

2

 

Retained earnings

27,272

 

(7,424)

 

Shareholders' funds/(deficit)

   

27,274

 

(7,422)

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 


Mr S Sharma

Director

 

SATSU Property Investments Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024
__________________________________________________________________________

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

2

(7,424)

(7,422)

Profit for the year

-

34,696

34,696

At 31 March 2024

2

27,272

27,274

 

SATSU Property Investments Ltd

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
No depreciation is provided on the company's freehold premises as it is the company's practice to maintain this asset in a continual state of sound repair and to make improvements thereto and accordingly the directors consider that the life of this asset is so long and the residual value so high that it's depreciation is not significant

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

SATSU Property Investments Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

2,182,456

2,182,456

At 31 March 2024

2,182,456

2,182,456

Carrying amount

At 31 March 2024

2,182,456

2,182,456

At 31 March 2023

2,182,456

2,182,456

Included within the net book value of land and buildings above is £2,182,456 (2023 - £2,182,456) in respect of properties at cost.
 

4

Debtors

Current

2024
£

2023
£

Other debtors

2

2

 

2

2

 

SATSU Property Investments Ltd

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

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Rentals received in advance

3,500

-

Taxation and social security

8,470

-

Accruals and deferred income

2,400

2,160

Other creditors

907,110

870,000

921,480

872,160

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,355,551

1,355,462

6

Share capital

Allotted, called up and not fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2