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Registered number: 12651423
Sane Property Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Ortu Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12651423
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 687,580 551,612
687,580 551,612
CURRENT ASSETS
Cash at bank and in hand 1,088 10
1,088 10
Creditors: Amounts Falling Due Within One Year 5 (462,400 ) (309,652 )
NET CURRENT ASSETS (LIABILITIES) (461,312 ) (309,642 )
TOTAL ASSETS LESS CURRENT LIABILITIES 226,268 241,970
Creditors: Amounts Falling Due After More Than One Year 6 (272,051 ) (271,550 )
NET LIABILITIES (45,783 ) (29,580 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (45,883 ) (29,680 )
SHAREHOLDERS' FUNDS (45,783) (29,580)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Ahmed Giaziri
Director
14/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sane Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12651423 . The registered office is 18 Endless Street, Sailsbury, Wiltshire, SP1 1DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 576,703 5,535 582,238
Additions 150,800 - 150,800
As at 30 June 2024 727,503 5,535 733,038
Depreciation
As at 1 July 2023 27,426 3,200 30,626
Provided during the period 14,002 830 14,832
As at 30 June 2024 41,428 4,030 45,458
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 June 2024 686,075 1,505 687,580
As at 1 July 2023 549,277 2,335 551,612
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to group undertakings 461,320 308,692
Other creditors 1,080 960
462,400 309,652
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 170,485 169,984
Other creditors 101,566 101,566
272,051 271,550
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4