2023-04-012024-03-312024-03-31false02355063S.D.S.K 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S.D.S.K LIMITED

Registered Number
02355063
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

S.D.S.K LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Dr D S Rangar
Dr R Rangar

Company Secretary

Dr D S Rangar

Registered Address

Wood Green
Medburn
Newcastle Upon Tyne
NE20 0JE

Registered Number

02355063 (England and Wales)
S.D.S.K LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3586732
Investment property41,295,3661,340,366
1,295,9521,341,098
Current assets
Debtors5134,18445,273
Cash at bank and on hand54,76083,661
188,944128,934
Creditors amounts falling due within one year6(33,295)(17,193)
Net current assets (liabilities)155,649111,741
Total assets less current liabilities1,451,6011,452,839
Provisions for liabilities7(80,933)(81,385)
Net assets1,370,6681,371,454
Capital and reserves
Called up share capital22
Profit and loss account1,370,6661,371,452
Shareholders' funds91,370,6681,371,454
The financial statements were approved and authorised for issue by the Board of Directors on 5 November 2024, and are signed on its behalf by:
Dr D S Rangar
Director
Registered Company No. 02355063
S.D.S.K LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings20
Investment property
Investment property is carried at fair value derived from the current market rents and investment property yields for comparable real estate. These values are 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 the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 April 2322,21722,217
At 31 March 2422,21722,217
Depreciation and impairment
At 01 April 2321,48521,485
Charge for year146146
At 31 March 2421,63121,631
Net book value
At 31 March 24586586
At 31 March 23732732
4.Investment property
The investment properties were revalued by the directors at 31 March 2024, at market value for existing use. The directors consider this to be a fair representation of fair value at the year end. On a historical cost basis these would have been included at an original cost of £648,035 (2023: £738,035).

£
Fair value at 01 April 231,340,366
Disposals(45,000)
At 31 March 241,295,366
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,7502,450
Other debtors126,82641,243
Prepayments and accrued income4,6081,580
Total134,18445,273
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,2432,896
Taxation and social security23,6877,134
Other creditors42-
Accrued liabilities and deferred income6,3237,163
Total33,29517,193
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)80,93381,385
Total80,93381,385
8.Directors advances, credits and guarantees
On 1 April 2023 the directors owed the Company £36,520. During the period the directors were advanced a further £90,288 and repaid £23,018. As at 31 March 2024 the directors owed the Company £103,791. No interest was charged on this loan. The loan is unsecured and repayable upon demand.
9.Fair value reserve
Other reserves represent the unrealised fair value surplus created when the investment properties were revalued, less any deferred tax provision. The reserve represents non distributable funds.

£
Fair value reserve at 01 April 23521,129
Transferred in period33,750
At 31 March 24554,879
10.Related party transactions
On 1 April 2023 the directors owed the Company £36,520. During the period the directors were advanced a further £90,288 and repaid £23,018. As at 31 March 2024 the directors owed the Company £103,791. No interest was charged on this loan. The loan is unsecured and repayable upon demand.