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REGISTERED NUMBER: 08819600 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SIDHU PROPERTIES NE LTD

SIDHU PROPERTIES NE LTD (REGISTERED NUMBER: 08819600)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SIDHU PROPERTIES NE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S S Sidhu
Mrs J Sidhu





REGISTERED OFFICE: 23 Yarm Road
Stockton on Tees
TS18 3NJ





REGISTERED NUMBER: 08819600 (England and Wales)





ACCOUNTANTS: Lyons & Co Ltd
23 Yarm Road
Stockton on Tees
TS18 3NJ

SIDHU PROPERTIES NE LTD (REGISTERED NUMBER: 08819600)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,451,739 1,373,056

CURRENT ASSETS
Debtors 4,176 3,035
Cash at bank 24,316 66,153
28,492 69,188
CREDITORS
Amounts falling due within one year 44,102 58,823
NET CURRENT (LIABILITIES)/ASSETS (15,610 ) 10,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,436,129

1,383,421

CREDITORS
Amounts falling due after more than one
year

(633,188

)

(658,572

)

PROVISIONS FOR LIABILITIES (84,926 ) (84,926 )
NET ASSETS 718,015 639,923

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 362,054 362,054
Retained earnings 355,861 277,769
SHAREHOLDERS' FUNDS 718,015 639,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

SIDHU PROPERTIES NE LTD (REGISTERED NUMBER: 08819600)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 September 2024 and were signed on its behalf by:




Mr S S Sidhu - Director



Mrs J Sidhu - Director


SIDHU PROPERTIES NE LTD (REGISTERED NUMBER: 08819600)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sidhu Properties NE Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment property - not provided
Fixtures & fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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.

Investment property
Investment properties are included in the accounts at open market value as estimated by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SIDHU PROPERTIES NE LTD (REGISTERED NUMBER: 08819600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2023 1,373,723
Additions 84,227
At 31 December 2023 1,457,950
DEPRECIATION
At 1 January 2023 667
Charge for year 5,544
At 31 December 2023 6,211
NET BOOK VALUE
At 31 December 2023 1,451,739
At 31 December 2022 1,373,056

Cost or valuation at 31 December 2023 is represented by:

Totals
£   
Valuation in 2018 446,980
Cost 1,010,970
1,457,950

5. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Bank loans 242,229 255,608

The bank loans are secured by a charge on the properties and by a debenture over the other assets of the company. The loans are at normal commercial rates.

6. RELATED PARTY DISCLOSURES

The company has a loan with Aspire U Ltd, a company controlled by the directors. The total amount outstanding at 31 December 2023 was £203,347 (2022 - £213,840) including interest for the year of £6,206 (2022 - £6,252). Interest is charged at normal commercial rates.


The amount owed to the directors outstanding at 31 December 2023 was £133,617 (2022 - £205,724) which includes total interest charged for the year of £3,040 (2022 - £3,127) which is charged at normal commercial rates.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs Sidhu.