Registered number
14106160
SAVIO PROPERTIES LTD
Filleted Accounts
31 May 2024
SAVIO PROPERTIES LTD
Registered number: 14106160
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 500,000 -
Current assets
Stocks - 341,859
Cash at bank and in hand 483 6,457
483 348,316
Creditors: amounts falling due within one year 4 (650) (650)
Net current (liabilities)/assets (167) 347,666
Total assets less current liabilities 499,833 347,666
Creditors: amounts falling due after more than one year 5 (465,900) (349,999)
Net assets/(liabilities) 33,933 (2,333)
Capital and reserves
Called up share capital 100 1
Revaluation reserve 6 197,676 -
Profit and loss account (163,843) (2,334)
Shareholders' funds 33,933 (2,333)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Adrian Zawierzynski
Director
Approved by the board on 26 November 2024
SAVIO PROPERTIES LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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
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 sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No Depreciation
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 341,859
Surplus on revaluation 158,141
At 31 May 2024 500,000
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 500,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 650 650
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 465,900 349,999
6 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 158,141 -
Deferred taxation arising on the revaluation of land and buildings 39,535 -
At 31 May 2024 197,676 -
7 Other information
SAVIO PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
18 Aldrich Crescent
New Addington
Croydon
Surrey
CR0 0NN
SAVIO PROPERTIES LTD 14106160 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr Adrian Zawierzynski No description of principal activity 14106160 2022-05-13 2023-05-31 14106160 core:RevaluationReserve core:LandBuildings 2022-05-13 2023-05-31 14106160 core:RevaluationReserve 2022-05-13 2023-05-31 14106160 core:WithinOneYear 2023-05-31 14106160 core:AfterOneYear 2023-05-31 14106160 core:ShareCapital 2023-05-31 14106160 core:OtherReservesSubtotal 2023-05-31 14106160 core:RetainedEarningsAccumulatedLosses 2023-05-31 14106160 core:RevaluationReserve 2023-05-31 14106160 2023-06-01 2024-05-31 14106160 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14106160 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14106160 bus:Director40 2023-06-01 2024-05-31 14106160 2 2023-06-01 2024-05-31 14106160 core:LandBuildings 2023-06-01 2024-05-31 14106160 core:RevaluationReserve core:LandBuildings 2023-06-01 2024-05-31 14106160 core:RevaluationReserve 2023-06-01 2024-05-31 14106160 countries:England 2023-06-01 2024-05-31 14106160 bus:FRS102 2023-06-01 2024-05-31 14106160 bus:FilletedAccounts 2023-06-01 2024-05-31 14106160 2024-05-31 14106160 core:WithinOneYear 2024-05-31 14106160 core:AfterOneYear 2024-05-31 14106160 core:ShareCapital 2024-05-31 14106160 core:OtherReservesSubtotal 2024-05-31 14106160 core:RetainedEarningsAccumulatedLosses 2024-05-31 14106160 core:LandBuildings 2024-05-31 14106160 core:RevaluationReserve 2024-05-31 14106160 2023-05-31 iso4217:GBP xbrli:pure