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REGISTERED NUMBER: 09630017 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

SR7 Properties Limited

SR7 Properties Limited (Registered number: 09630017)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SR7 Properties Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R K Sondhi
Mrs S Sondhi
A K R Sondhi





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottingham
NG15 7BT





REGISTERED NUMBER: 09630017 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

SR7 Properties Limited (Registered number: 09630017)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,650,000 2,133,650

CURRENT ASSETS
Debtors 5 60,846 60,816
Cash at bank 18,347 1,969
79,193 62,785
CREDITORS
Amounts falling due within one year 6 833,224 293,387
NET CURRENT LIABILITIES (754,031 ) (230,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,895,969

1,903,048

CREDITORS
Amounts falling due after more than one
year

7

(841,737

)

(834,332

)

PROVISIONS FOR LIABILITIES 10 (265,691 ) (266,581 )
NET ASSETS 788,541 802,135

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Non-distributable reserves 11 824,743 799,743
Retained earnings 11 (37,202 ) 1,392
788,541 802,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

SR7 Properties Limited (Registered number: 09630017)

Balance Sheet - continued
31 July 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 13 January 2025 and were signed on its behalf by:





Mrs S Sondhi - Director


SR7 Properties Limited (Registered number: 09630017)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

SR7 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.

A property held within the balance sheet was transferred into the company by way of a gift and therefore there was no original cost to the company. This property, along with the other investment properties held within the company, have been revalued this financial year.

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 1 (2023 - 1 ) .

SR7 Properties Limited (Registered number: 09630017)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 2,133,650
Additions 491,350
Revaluations 25,000
At 31 July 2024 2,650,000
NET BOOK VALUE
At 31 July 2024 2,650,000
At 31 July 2023 2,133,650

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2022 1,066,324
Valuation in 2024 25,000
Cost 1,558,676
2,650,000

If investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 1,100,000 1,067,326

Investment property was valued on an open market value basis on 31 July 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed by associates 60,846 60,816

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts (see note 8) 16,872 11,000
Trade creditors 31,395 2,564
Deposits held 17,061 11,796
Amounts owed to associates 47,070 39,870
Corporation tax 114 1,248
Other creditors 1,012 506
Credit card 5,923 1,193
Directors' current accounts 711,611 192,287
Accruals and deferred income 2,166 32,923
833,224 293,387

SR7 Properties Limited (Registered number: 09630017)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 8) 841,737 834,332

Amounts falling due in more than five years:

Repayable by instalments
Bank loans to be repaid after
5 years by instalments 781,589 790,332
781,589 790,332

8. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 16,872 11,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 16,872 11,000

Amounts falling due between two and five years:
Bank loans to be repaid
between 2 & 5 years by
instalments 43,276 33,000
43,276 33,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans to be repaid after
5 years by instalments 781,589 790,332
781,589 790,332

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 858,609 845,332

Bank loans are secured against the investment properties held on the companies balance sheet.

SR7 Properties Limited (Registered number: 09630017)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 265,691 266,581

Deferred
tax
£   
Balance at 1 August 2023 266,581
Credit to Income Statement during year (890 )
Balance at 31 July 2024 265,691

11. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 August 2023 1,392 799,743 801,135
Deficit for the year (13,594 ) (13,594 )
Property revaluation transfer (25,000 ) 25,000 -
At 31 July 2024 (37,202 ) 824,743 787,541