2023-10-012024-09-302024-09-30false10738645EIGHTH PROPERTY INVESTMENT 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EIGHTH PROPERTY INVESTMENT LIMITED

Registered Number
10738645
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

EIGHTH PROPERTY INVESTMENT LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

Sahil Kakkar

Registered Address

Windsor Park House
2-4 Sheet Street
Windsor
SL4 1BG

Registered Number

10738645 (England and Wales)
EIGHTH PROPERTY INVESTMENT LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property38,460,0002,865,784
8,460,0002,865,784
Current assets
Debtors96,798154,220
Cash at bank and on hand13,65821,291
110,456175,511
Creditors amounts falling due within one year4(2,939,339)(841,697)
Net current assets (liabilities)(2,828,883)(666,186)
Total assets less current liabilities5,631,1172,199,598
Creditors amounts falling due after one year5(2,238,159)(843,750)
Provisions for liabilities6(345,213)-
Net assets3,047,7451,355,848
Capital and reserves
Called up share capital1,0001,000
Profit and loss account3,046,7451,354,848
Shareholders' funds3,047,7451,355,848
The financial statements were approved and authorised for issue by the Director on 20 November 2024, and are signed on its behalf by:
Sahil Kakkar
Director
Registered Company No. 10738645
EIGHTH PROPERTY INVESTMENT LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
Eighth Property Investment Limited 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.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current 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 between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
The Company carries its investment properties at fair value, with changes in fair values being recognised in the income statement. In addition, it measures land and buildings at revalued amounts with changes in fair value being recognised in other comprehensive income. Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. If a property interest held under a lease is classified as investment property, the item accounted for at fair value is that interest and not the underlying property. Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal. Any gains or losses on the retirement or disposal of investment property, is recognised in the income statement in the period of derecognition. Transfers are made to or from investment property only when there is a change in use.
2.Average number of employees

20242023
Average number of employees during the year11
3.Investment property

£
Fair value at 01 October 232,865,784
Additions4,213,364
Fair value adjustments1,380,852
At 30 September 248,460,000
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables7,7387,738
Amounts owed to related parties2,086,582811,618
Taxation and social security18,7525,611
Other creditors818,817980
Accrued liabilities and deferred income7,45015,750
Total2,939,339841,697
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,238,159843,750
Total2,238,159843,750
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)345,213-
Total345,213-
7.Related party transactions
At the balance sheet date, the company owes its director £818,817 (2023: £980). The amount owed to and from the group undertaking includes a balance of £842,428 (2023: £790,178) owed to Savin Communications Ltd, a balance of £1,224,664 (2023: £1,950) owed to Sahil Kakkar Asset Management Ltd, and a balance of £96,798 (2023: £154,220) owed by Kakkar Real Estate Ltd. The balance of £19,489 (2023: £19,489) is included in Other Creditors and is owed to S & R Real Estate Ltd.