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REGISTERED NUMBER: 10737643 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SARKA PROPERTIES LIMITED

SARKA PROPERTIES LIMITED (REGISTERED NUMBER: 10737643)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SARKA PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A Ahmed
S N Ahmed





REGISTERED OFFICE: Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU





REGISTERED NUMBER: 10737643 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

SARKA PROPERTIES LIMITED (REGISTERED NUMBER: 10737643)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 905,000 626,000

CURRENT ASSETS
Cash at bank 4,142 698

CREDITORS
Amounts falling due within one year 5 508,324 385,229
NET CURRENT LIABILITIES (504,182 ) (384,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,818

241,469

CREDITORS
Amounts falling due after more than
one year

6

(52,245

)

(52,245

)

PROVISIONS FOR LIABILITIES 7 (65,352 ) (35,394 )
NET ASSETS 283,221 153,830

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 278,607 150,891
Retained earnings 4,514 2,839
SHAREHOLDERS' FUNDS 283,221 153,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

SARKA PROPERTIES LIMITED (REGISTERED NUMBER: 10737643)

BALANCE SHEET - continued
30 APRIL 2024


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 27 January 2025 and were signed on its behalf by:





A Ahmed - Director


SARKA PROPERTIES LIMITED (REGISTERED NUMBER: 10737643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Sarka Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 (2023 - 2 ) .

SARKA PROPERTIES LIMITED (REGISTERED NUMBER: 10737643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 626,000
Additions 121,325
Revaluations 157,675
At 30 April 2024 905,000
NET BOOK VALUE
At 30 April 2024 905,000
At 30 April 2023 626,000

The Mortgage Works (UK) plc has a continuing charge over an asset of the company by way of a first legal mortgage and fixed charge. Additional information can be found at Companies House.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2021 123,634
Valuation in 2022 46,651
Valuation in 2023 16,000
Valuation in 2024 157,675
Cost 561,040
905,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Tax - 666
Other creditors 22,484 21,435
Directors' current accounts 484,640 361,928
Accrued expenses 1,200 1,200
508,324 385,229

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 52,245 52,245

Included in long-term creditors is the outstanding capital amount in respect of an interest-only mortgage with a term of 20 years.

SARKA PROPERTIES LIMITED (REGISTERED NUMBER: 10737643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Other timing differences 65,352 35,394

Deferred
tax
£   
Balance at 1 May 2023 35,394
Tax on revaluation 29,958
Balance at 30 April 2024 65,352

Deferred tax has been provided in the accounts and this represents the potential tax liability that is expected to arise in the event that the company sells its investment property, less tax relief in respect of losses available to offset against the company's future taxable profits.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed Sarka Insights Ltd £22,484 (2023: £21,435). Sarka Insights Ltd is a company under the joint control of the directors.

The company also maintains an interest free loan account with its directors. At the year end, the directors were owed £484,640 (2023: £361,928).

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.