Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01falseNo description of principal activity11false 08041834 2023-05-01 2024-04-30 08041834 2022-05-01 2023-04-30 08041834 2024-04-30 08041834 2023-04-30 08041834 c:Director1 2023-05-01 2024-04-30 08041834 c:RegisteredOffice 2023-05-01 2024-04-30 08041834 d:CurrentFinancialInstruments 2024-04-30 08041834 d:CurrentFinancialInstruments 2023-04-30 08041834 d:Non-currentFinancialInstruments 2024-04-30 08041834 d:Non-currentFinancialInstruments 2023-04-30 08041834 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08041834 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08041834 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 08041834 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 08041834 d:ShareCapital 2024-04-30 08041834 d:ShareCapital 2023-04-30 08041834 d:SharePremium 2024-04-30 08041834 d:SharePremium 2023-04-30 08041834 d:RetainedEarningsAccumulatedLosses 2024-04-30 08041834 d:RetainedEarningsAccumulatedLosses 2023-04-30 08041834 c:FRS102 2023-05-01 2024-04-30 08041834 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08041834 c:FullAccounts 2023-05-01 2024-04-30 08041834 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08041834 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 08041834










SINAN PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




















 
SINAN PROPERTIES LIMITED
 
 
Company Information


Director
T S Bahcheli 




Registered number
08041834



Registered office
3rd Floor
12 Gough Square

London

England

EC4A 3DW





 
SINAN PROPERTIES LIMITED
Registered number: 08041834

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
3,417,230
3,417,230

Debtors: amounts falling due within one year
 4 
5,504
262,407

Cash at bank and in hand
 5 
729,671
706,023

  
4,152,405
4,385,660

Creditors: amounts falling due within one year
 6 
(35,716)
(278,842)

Net current assets
  
 
 
4,116,689
 
 
4,106,818

Total assets less current liabilities
  
4,116,689
4,106,818

Creditors: amounts falling due after more than one year
  
(10)
(10)

  

Net assets
  
4,116,679
4,106,808


Capital and reserves
  

Called up share capital 
  
2,249
2,249

Share premium account
  
3,429,965
3,429,965

Profit and loss account
  
684,465
674,594

  
4,116,679
4,106,808


Page 1

 
SINAN PROPERTIES LIMITED
Registered number: 08041834
    
Balance sheet (continued)
As at 30 April 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2024.




T S Bahcheli
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SINAN PROPERTIES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

Sinan Properties Limited (the "Company") is a private limited company incorporated in the United Kingdom and registered in England and Wales with company registration number 08041834. The Company's registered office address is 3rd Floor 12 Gough Square, London, England, EC4A 3DW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
SINAN PROPERTIES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
2.8

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.




 

Page 4

 
SINAN PROPERTIES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
SINAN PROPERTIES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

4.


Debtors

2024
2023
£
£


Trade debtors
-
4,167

Other debtors
-
255,769

Prepayments and accrued income
5,504
2,471

5,504
262,407



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
729,671
706,023

729,671
706,023



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
30,116
-

Other creditors
-
233,900

Accruals and deferred income
5,600
44,942

35,716
278,842



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
10
10

10
10


Page 6

 
SINAN PROPERTIES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

8.


Related party transactions

The Company operates a director's current account. During the year, the Company repaid the director £233,900 (2023: £850,000).  At the year end the Company owed the director £nil (2023: £233,900).  The loan was interest free and repayable on demand.


9.


Controlling party

The company is under the control of Mr T S Bahcheli, the director.  Mr T S Bahcheli, together with his wife, own 100% of the company's share capital.

 
Page 7