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Registered number: 11344237
Saul & Siva Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Macleod Accounting Limited
ICAEW
3 Hunters Mews
Oakfield
Sale
M33 6WA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11344237
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 519,067 519,067
519,067 519,067
CURRENT ASSETS
Investments 5 187 187
Cash at bank and in hand 24,694 19,573
24,881 19,760
Creditors: Amounts Falling Due Within One Year 6 (131,440 ) (130,473 )
NET CURRENT ASSETS (LIABILITIES) (106,559 ) (110,713 )
TOTAL ASSETS LESS CURRENT LIABILITIES 412,508 408,354
Creditors: Amounts Falling Due After More Than One Year 7 (299,858 ) (299,858 )
NET ASSETS 112,650 108,496
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 85,860 85,860
Profit and Loss Account 26,690 22,536
SHAREHOLDERS' FUNDS 112,650 108,496
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Christopher Saul
Director
25th September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Saul & Siva Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11344237 . The registered office is 48 Connaught Avenue, Barnet, Hertfordshire, EN4 8PN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents gross rent receivable which is based on signed leases with tennants.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 519,067
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 413,067 413,067
5. Current Asset Investments
2024 2023
£ £
Short term deposits 187 187
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 1,505 864
Directors' loan accounts 129,935 129,609
131,440 130,473
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 299,858 299,858
Page 3
Page 4
8. Secured Creditors
Of the creditors the following amounts are secured. They are secured with a fixed charge over the companies assets and personal guarantees form the directors of the company, limited to the amount of the loan.
2024 2023
£ £
Bank loans and overdrafts 299,858 299,858
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Fair Value Reserve
£
As at 1 June 2023 85,860
As at 31 May 2024 85,860
Page 4