Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-311false2023-02-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13165140 2023-02-01 2024-01-31 13165140 2022-02-01 2023-01-31 13165140 2024-01-31 13165140 2023-01-31 13165140 c:Director1 2023-02-01 2024-01-31 13165140 d:FreeholdInvestmentProperty 2024-01-31 13165140 d:FreeholdInvestmentProperty 2023-01-31 13165140 d:CurrentFinancialInstruments 2024-01-31 13165140 d:CurrentFinancialInstruments 2023-01-31 13165140 d:Non-currentFinancialInstruments 2024-01-31 13165140 d:Non-currentFinancialInstruments 2023-01-31 13165140 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13165140 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13165140 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 13165140 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 13165140 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 13165140 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 13165140 d:ShareCapital 2024-01-31 13165140 d:ShareCapital 2023-01-31 13165140 d:RetainedEarningsAccumulatedLosses 2024-01-31 13165140 d:RetainedEarningsAccumulatedLosses 2023-01-31 13165140 c:OrdinaryShareClass1 2023-02-01 2024-01-31 13165140 c:OrdinaryShareClass1 2024-01-31 13165140 c:OrdinaryShareClass1 2023-01-31 13165140 c:FRS102 2023-02-01 2024-01-31 13165140 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13165140 c:FullAccounts 2023-02-01 2024-01-31 13165140 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13165140 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13165140









SEVIM PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
SEVIM PROPERTY LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEVIM PROPERTY LIMITED
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SEVIM PROPERTY LIMITED for the year ended 31 January 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of SEVIM PROPERTY LIMITED in accordance with the terms of our engagement letter dated 18 March 2024Our work has been undertaken solely to prepare for your approval the financial statements of SEVIM PROPERTY LIMITED and state those matters that we have agreed to state to the director of SEVIM PROPERTY LIMITED in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SEVIM PROPERTY LIMITED and its director for our work or for this report. 

It is your duty to ensure that SEVIM PROPERTY LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SEVIM PROPERTY LIMITED. You consider that SEVIM PROPERTY LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SEVIM PROPERTY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Hurkan Sayman & Co
 
Chartered Accountants
  
291 Green Lanes
London
N13 4XS
26 October 2024
Page 1

 
SEVIM PROPERTY LIMITED
REGISTERED NUMBER: 13165140

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
159,548
159,548

  
159,548
159,548

Current assets
  

Debtors: amounts falling due within one year
  
-
870

Cash at bank and in hand
  
1,509
-

  
1,509
870

Creditors: amounts falling due within one year
 7 
(45,664)
(45,534)

Net current liabilities
  
 
 
(44,155)
 
 
(44,664)

Total assets less current liabilities
  
115,393
114,884

Creditors: amounts falling due after more than one year
 8 
(113,495)
(113,495)

  

Net assets
  
1,898
1,389


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
1,798
1,289

  
1,898
1,389


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 by: 


Page 2

 
SEVIM PROPERTY LIMITED
REGISTERED NUMBER: 13165140
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024



Faruk Sevim
Director

Date: 26 October 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
SEVIM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Sevim Property Limited is a private company limited by share capital, incorporated in England and Wales, registration number 13165140. The address of the registered office is 6 Larkhill Road, Park Hall, Oswestry, Shropshire, SY11 4AW.
 

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 following principal accounting policies have been applied:

 
2.2

Revenue

Rental received
Rental income is recognised over the period in which it relates to.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
SEVIM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




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


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
159,548



At 31 January 2024
159,548

The 2024 valuations were made by the Director, on a fair value basis.





5.


Debtors

2024
2023
£
£


Other debtors
-
870
Page 5

 
SEVIM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.Debtors (continued)


-
870



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,509
-

1,509
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
856
991

Corporation tax
20
823

Other creditors
44,068
43,000

Accruals and deferred income
720
720

45,664
45,534



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
113,495
113,495

113,495
113,495


Page 6

 
SEVIM PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
113,495
113,495

113,495
113,495


Bank loans are secured by way of a charge over the company's assets.


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

Included within Creditors due in less than one year is a loan amount of £43,000 (2023:£43,000) due from a company under common control. The loan is unsecured, free of interest and repayable on demand.

 
Page 7