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Registration number: 07929677

Sakkal Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Sakkal Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Sakkal Limited

Company Information

Director

B Kfir

Registered office

3 Orchard Avenue
London
N3 3NL

Bankers

Lloyds Bank

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Sakkal Limited

(Registration number: 07929677)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4,915,337

4,880,000

Other financial assets

-

85,000

 

4,915,337

4,965,000

Current assets

 

Cash at bank and in hand

 

30,872

19,679

Creditors: Amounts falling due within one year

(2,600,483)

(2,174,037)

Net current liabilities

 

(2,569,611)

(2,154,358)

Total assets less current liabilities

 

2,345,726

2,810,642

Creditors: Amounts falling due after more than one year

(2,247,820)

(2,247,820)

Provisions for liabilities

80,603

(106,771)

Net assets

 

178,509

456,051

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

303,431

696,666

Retained earnings

(124,923)

(240,616)

Shareholders' funds

 

178,509

456,051

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 10 October 2024
 

 

Sakkal Limited

(Registration number: 07929677)
Abridged Balance Sheet as at 30 April 2024

.........................................
B Kfir
Director

   
     
 

Sakkal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sakkal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

3

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

589

589

At 30 April 2024

589

589

Depreciation

At 1 May 2023

589

589

At 30 April 2024

589

589

Carrying amount

At 30 April 2024

-

-

Investment properties

2024
£

At 1 May

4,880,000

Additions

428,571

Fair value adjustments

(393,234)

At 30 April

4,915,337

 

Sakkal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at the balance sheet date by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been as follows: £4,611,906 (2023 - £4,183.335)

4

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1