REGISTERED NUMBER: |
Financial Statements |
FOR THE PERIOD |
1 July 2022 to 31 December 2023 |
for |
SAMMY REAL ESTATE INVESTMENTS LTD |
REGISTERED NUMBER: |
Financial Statements |
FOR THE PERIOD |
1 July 2022 to 31 December 2023 |
for |
SAMMY REAL ESTATE INVESTMENTS LTD |
SAMMY REAL ESTATE INVESTMENTS LTD (REGISTERED NUMBER: 14208291) |
Contents of the Financial Statements |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SAMMY REAL ESTATE INVESTMENTS LTD |
Company Information |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
First Floor, Winston House |
349 Regents Park Road |
London |
N3 1DH |
SAMMY REAL ESTATE INVESTMENTS LTD (REGISTERED NUMBER: 14208291) |
Balance Sheet |
31 DECEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SAMMY REAL ESTATE INVESTMENTS LTD (REGISTERED NUMBER: 14208291) |
Notes to the Financial Statements |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Sammy Real Estate Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statement has been prepared for a period of more than 12 months, as it is the first period of accounts. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
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. |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual |
provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment. |
Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
SAMMY REAL ESTATE INVESTMENTS LTD (REGISTERED NUMBER: 14208291) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Investment in joint venture syndicates |
The company has investment in a number of incorporated and unincorporated property joint venture syndicates. The investments are shown at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | FIXED ASSET INVESTMENTS |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
COST |
Additions | 14,652,953 |
At 31 December 2023 | 14,652,953 |
NET BOOK VALUE |
At 31 December 2023 | 14,652,953 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by participating interests | 4,775,538 |
Other debtors |
SAMMY REAL ESTATE INVESTMENTS LTD (REGISTERED NUMBER: 14208291) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |