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Registered Number: 12393499
England and Wales

 

 

 

SATVIK INVESTMENTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,711,738    1,711,738 
1,711,738    1,711,738 
Current assets      
Cash at bank and in hand 670    2,223 
Creditors: amount falling due within one year (44,564)   (47,946)
Net current assets (43,894)   (45,723)
 
Total assets less current liabilities 1,667,844    1,666,015 
Creditors: amount falling due after more than one year (1,654,245)   (1,661,478)
Net assets 13,599    4,537 
 

Capital and reserves
     
Called up share capital 4 45    45 
Profit and loss account 13,554    4,492 
Shareholders' funds 13,599    4,537 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Ketan Harsukhbhai Vaghasiya
Director
1
General Information
SATVIK INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12393499, registration address 26 Barnhurst Path, Watford, England, WD19 6TT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the rents receivable.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 February 2023 1,711,738    1,711,738 
Additions  
Disposals  
At 31 January 2024 1,711,738    1,711,738 
Depreciation
At 01 February 2023  
Charge for year  
On disposals  
At 31 January 2024  
Net book values
Closing balance as at 31 January 2024 1,711,738    1,711,738 
Opening balance as at 01 February 2023 1,711,738    1,711,738 


4.

Share Capital

Authorised
90 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
90 Class A shares of £1.00 each 90    90 
90    90 

2