Registered number
11845348
SA BAGGA PROPERTIES LTD
Filleted Accounts
31 March 2024
SA BAGGA PROPERTIES LTD
Registered number: 11845348
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 197,092 197,092
Current assets
Cash at bank and in hand 3,946 9,196
Creditors: amounts falling due within one year 4 (1,440) (3,840)
Net current assets 2,506 5,356
Total assets less current liabilities 199,598 202,448
Creditors: amounts falling due after more than one year 5 (211,858) (208,331)
Net liabilities (12,260) (5,883)
Capital and reserves
Called up share capital 2 2
Profit and loss account (12,262) (5,885)
Shareholders' funds (12,260) (5,883)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Bagga
Director
Approved by the board on 13 September 2024
SA BAGGA PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the amount receivable for service rendered and rent charged during the year, exclusive of VAT.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumuative impairment losses. Depreciation is provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost, less estimated residusal value,of each asset evenly over its expected useful life, as follows:
Investment property no depreciation charged
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs less any impairment for bad and doubtful debs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilites are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability Is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment property
£
Cost
At 1 April 2023 197,092
At 31 March 2024 197,092
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 197,092
At 31 March 2023 197,092
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 1,440 3,840
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 127,505 127,494
Shareholders and directors lons 84,353 80,837
211,858 208,331
6 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 127,505 127,494
Secured bank loans 127,505 127,494
The bank loan is secured by a charge over the freehold investment property owned by the company.
7 Other information
SA BAGGA PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
128A Evington
Leicester
E2 1HL
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