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REGISTERED NUMBER: 10480940 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SANGHERA INVESTMENTS LIMITED

SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,991 3,741
Investment property 5 4,689,085 4,264,632
4,691,076 4,268,373

CURRENT ASSETS
Debtors 6 3,444 111,490
Cash at bank 34,819 17,354
38,263 128,844
CREDITORS
Amounts falling due within one year 7 (1,374,541 ) (1,486,526 )
NET CURRENT LIABILITIES (1,336,278 ) (1,357,682 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,354,798

2,910,691

CREDITORS
Amounts falling due after more than one
year

8

(2,434,338

)

(2,214,613

)

PROVISIONS FOR LIABILITIES (134,713 ) (51,272 )
NET ASSETS 785,747 644,806

CAPITAL AND RESERVES
Called up share capital 111 111
Share premium 26,539 26,539
Non distributable
reserve 404,139 230,059
Retained earnings 354,958 388,097
785,747 644,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





I S Sanghera - Director


SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

SANGHERA INVESTMENTS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10480940

Registered office: 152 Ramsey Drive
Arnold
Nottingham
Nottinghamshire
NG5 6SD

The principal activity of the company during the year was that of a property investment company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Valuation of investments

As described in the notes to the financial statements, the investment properties are stated at fair value as determined by the directors as at 30 November 2023.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during the current and prior accounting periods.

SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Revenue recognition
The turnover shown in the profit and loss account represents rental income received or receivable for the year. Rental income is recognised in the relevant rental period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% straight line

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 December 2022
and 30 November 2023 8,750
DEPRECIATION
At 1 December 2022 5,009
Charge for year 1,750
At 30 November 2023 6,759
NET BOOK VALUE
At 30 November 2023 1,991
At 30 November 2022 3,741

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 4,264,632
Additions 164,438
Revaluations 260,015
At 30 November 2023 4,689,085
NET BOOK VALUE
At 30 November 2023 4,689,085
At 30 November 2022 4,264,632

The directors have reviewed the open market value of the investment properties as at 30 November 2023 and consider the valuations shown to be a reflection of a fair value of the properties.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2019 226,067
Valuation in 2020 2,769
Valuation in 2022 50,000
Valuation in 2023 260,015
Cost 4,150,234
4,689,085

SANGHERA INVESTMENTS LIMITED (REGISTERED NUMBER: 10480940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors - 103,600
Amount due from connected
companies 3,444 7,890
3,444 111,490

Amounts owed from connected companies are unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loan 5,200 5,200
Tax 13,677 43,041
Other creditors 3,586 5,446
Directors' loan accounts 1,347,411 1,425,140
Accruals and deferred income 4,667 7,699
1,374,541 1,486,526

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loan - 2-5 years 8,233 13,433
Mortgage over 5 years 2,426,105 2,201,180
2,434,338 2,214,613

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage over 5 years 2,426,105 2,201,180

The company has a Government Bounce Back Loan, the loan is repayable by May 2026. The mortgages are secured by charges over the investment properties.

9. EVENTS AFTER THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.