Company registration number 14831104 (England and Wales)
SFI Development and Investment Limited
Audited Financial Statements
For the period ended
31 March 2024
Pages for filing with registrar
SFI Development and Investment Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
SFI Development and Investment Limited
Statement Of Financial Position
As at 31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
4
479,529
Current assets
Debtors
5
8,300
Cash at bank and in hand
57,243
65,543
Creditors: amounts falling due within one year
6
(9,934)
Net current assets
55,609
Total assets less current liabilities
535,138
Creditors: amounts falling due after more than one year
7
(550,000)
Net liabilities
(14,862)
Capital and reserves
Called up share capital
20,001
Profit and loss reserves
(34,863)
Total equity
(14,862)
The notes on pages 2 to 4 form part of these financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 23 January 2025 and are signed on its behalf by:
L. Binge
Director
Company registration number 14831104 (England and Wales)
SFI Development and Investment Limited
Notes To The Financial Statements
For the period ended 31 March 2024
- 2 -
1
General information
SFI Development and Investment Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.
2
Accounting policies
2.1
Reporting period
The financial statements present information for the period from incorporation on 27 April 2023 to 31 March 2024.
2.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.3
Going concern
At the balance sheet date the company had net current assets of £55,609 and atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors also expect the financial support of the company's parent undertaking, which has confirmed it will support the company for all third party liabilities arising for a period of at least twelve months form the date of signing of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.4
Fixed asset investments
Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
2.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.
2.6
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
SFI Development and Investment Limited
Notes To The Financial Statements (Continued)
For the period ended 31 March 2024
2
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors and preference shares that are classified as debt, are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
2.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
3
Employees
The company employed no persons during the period.
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
479,529
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 27 April 2023
-
Additions
479,529
At 31 March 2024
479,529
Carrying amount
At 31 March 2024
479,529
5
Debtors
2024
Amounts falling due within one year:
£
Other debtors
8,300
SFI Development and Investment Limited
Notes To The Financial Statements (Continued)
For the period ended 31 March 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
334
Other creditors
9,600
9,934
7
Creditors: amounts falling due after more than one year
2024
£
Preference share capital classified as debt
550,000
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Rebecca White BSc FCA
Statutory Auditor:
Riches & Company
Date of audit report:
23 January 2025
9
Parent company
The parent company is Oriental Structural Engineers Private Limited, incorporated in India with registered office at OSE Commercial Block, Hotel Aloft, Asset 5B, Aerocity, Hospitality District, IGI Airport, New Delhi, 110037. It is also the parent of the smallest group for which consolidated accounts including SFI Development and Investment Limited are drawn up, and copies of these accounts can be obtained from its registered office.