Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08353469 Mr Teja Brar Mr Harmit Brar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08353469 2022-12-31 08353469 2023-12-31 08353469 2023-01-01 2023-12-31 08353469 frs-core:Non-currentFinancialInstruments 2023-12-31 08353469 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08353469 frs-core:PlantMachinery 2023-01-01 2023-12-31 08353469 frs-core:RevaluationReserve 2022-12-31 08353469 frs-core:RevaluationReserve 2023-12-31 08353469 frs-core:ShareCapital 2023-12-31 08353469 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08353469 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08353469 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 08353469 frs-bus:SmallEntities 2023-01-01 2023-12-31 08353469 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08353469 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08353469 frs-bus:Director1 2023-01-01 2023-12-31 08353469 frs-bus:Director2 2023-01-01 2023-12-31 08353469 frs-countries:EnglandWales 2023-01-01 2023-12-31 08353469 2021-12-31 08353469 2022-12-31 08353469 2022-01-01 2022-12-31 08353469 frs-core:Non-currentFinancialInstruments 2022-12-31 08353469 frs-core:RevaluationReserve 2022-12-31 08353469 frs-core:ShareCapital 2022-12-31 08353469 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08353469
Sahara Properties (UK) Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 08353469
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,558,968 2,560,002
2,558,968 2,560,002
CURRENT ASSETS
Debtors 866,456 840,745
Cash at bank and in hand 5,498 7,069
871,954 847,814
Creditors: Amounts Falling Due Within One Year (1,555,152 ) (1,471,274 )
NET CURRENT ASSETS (LIABILITIES) (683,198 ) (623,460 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,875,770 1,936,542
Creditors: Amounts Falling Due After More Than One Year (1,446,946 ) (1,548,270 )
NET ASSETS 428,824 388,272
CAPITAL AND RESERVES
Called up share capital 5 2,000 2,000
Revaluation reserve 6 170,975 170,975
Profit and Loss Account 255,849 215,297
SHAREHOLDERS' FUNDS 428,824 388,272
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Harmit Brar
Director
18 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Sahara Properties (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08353469 . The registered office is 925 Finchley Road, London, NW11 7PE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold not depreciated
Plant & Machinery 20% reducing balance basis
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 January 2023 2,564,931
As at 31 December 2023 2,564,931
Depreciation
As at 1 January 2023 4,929
Provided during the period 1,034
As at 31 December 2023 5,963
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 2,558,968
As at 1 January 2023 2,560,002
The land and buildings represent investment property which is being carried at the last open market valuation carried out by the directors in January 2014. The historic cost of the property is £ 539,125 (2021 - £539,125). No provision has been made for any potential tax liability arising should the property be sold at the valuation. It is not the intention of the directors to sell the property in the near future.
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2,000 2,000
6. Reserves
Revaluation Reserve
£
As at 1 January 2023 170,975
As at 31 December 2023 170,975
Page 4