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REGISTERED NUMBER: 10160048 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SAAFI PROPERTIES LIMITED

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAAFI PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: M Hassan





REGISTERED OFFICE: 28 Ashford Road
Hastings
East Sussex
TN34 2HA





REGISTERED NUMBER: 10160048 (England and Wales)





ACCOUNTANTS: Jamieson Stone LLP
Windsor House
40/41 Great Castle Street
London
W1W 8LU

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,698,347 1,698,347

CURRENT ASSETS
Debtors 5 11,311 34,907

CREDITORS
Amounts falling due within one year 6 (481,892 ) (505,114 )
NET CURRENT LIABILITIES (470,581 ) (470,207 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,227,766

1,228,140

CREDITORS
Amounts falling due after more than one year 7 (1,222,433 ) (1,225,683 )
NET ASSETS 5,333 2,457

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5,332 2,456
SHAREHOLDERS' FUNDS 5,333 2,457

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 25 February 2025 and were signed by:





M Hassan - Director


SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Saafi 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.

Turnover
Turnover is the total amount receivable by the company excluding value added tax, in the ordinary course of its business for goods supplied and services provided.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,698,347
NET BOOK VALUE
At 31 May 2024 1,698,347
At 31 May 2023 1,698,347

SAAFI PROPERTIES LIMITED (REGISTERED NUMBER: 10160048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Director's current accounts 7,883 33,065
Prepayments and accrued income 3,428 1,842
11,311 34,907

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,646 344
Other loans 470,595 503,660
Accruals and deferred income 2,651 1,110
481,892 505,114

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans due after 5 years
by instalments 1,222,433 1,225,683
1,222,433 1,225,683

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years
by instalments 1,222,433 1,225,683
1,222,433 1,225,683