Registration number:
Sahni Capital Limited
for the
Year Ended 31 May 2024
Sahni Capital Limited
Company Information
Director |
Mr Rajkaran Singh Sahni |
Registered office |
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Accountants |
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Sahni Capital Limited
(Registration number: 11971988)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
|
Fixed assets |
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Group loan to subsidiary company |
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|
|
Current assets |
|||
Debtors |
|
- |
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Cash at bank and in hand |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
146,815 |
69,934 |
|
Shareholders' funds |
146,915 |
70,034 |
For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Sahni Capital Limited
Statement of Changes in Equity for the Year Ended 31 May 2024
Share capital |
Retained earnings |
Total |
|
At 1 June 2023 |
|
|
|
Profit for the year |
- |
|
|
At 31 May 2024 |
|
|
|
Share capital |
Retained earnings |
Total |
|
At 1 June 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 May 2023 |
100 |
69,934 |
70,034 |
Sahni Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises interest on loans to property investment companies.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Fixed asset investment represents shares and loans in subsidiary companies.
Both the shares and loans are shown at cost.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Sahni Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Group accounts
The company and its subsidiaries comprise a small group.
Sahini Capital Ltd has taken advantage of the exemption for small companies not to prepare group accounts.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
|
UK corporation tax adjustment to prior periods |
|
- |
22,858 |
12,153 |
Sahni Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Investments |
2024 |
2023 |
|
Loans to group undertakings |
1,069,960 |
1,069,960 |
Shares in group undertakings |
65 |
65 |
|
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Fixed asset group loan
£ |
|
Cost or valuation |
|
At 1 June 2023 |
1,069,960 |
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2024 |
2023 |
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Subsidiary undertakings |
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|
6 Wellesley House, Sloane Square, London SW1W 8AL United kingdom |
|
65% |
|
Debtors |
Current |
2024 |
2023 |
Short term loan |
|
- |
|
- |
Sahni Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
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Corporation tax |
|
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Accruals and deferred income |
|
|
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Dividends |
Dividends paid for the year were £5,000 (2023: £5000).
Related party transactions |
Summary of transactions with subsidiaries
Interest received from Gravitas Real Estates Ltd
Summary of transactions with other related parties
Dividends paid to shareholder
Consultancy service by an associate
Income and receivables from related parties
2024 |
Subsidiary |
Interest received |
|
|
2023 |
Subsidiary |
Interest received |
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Sahni Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Expenditure with and payables to related parties
2024 |
Other related parties |
Dividends paid to shareholder |
|
|
2023 |
Other related parties |
Dividends paid to shareholder |
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Loans to related parties
2024 |
Subsidiary |
Total |
At start of period |
|
|
At end of period |
|
|
|
2023 |
Subsidiary |
Total |
At start of period |
|
|
Advanced |
|
|
Repaid |
( |
( |
At end of period |
|
|
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Loans from related parties
2024 |
Other related parties |
Total |
At start of period |
|
|
Repaid |
( |
( |
At end of period |
|
|
|
2023 |
Other related parties |
Total |
At start of period |
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|
At end of period |
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