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REGISTERED NUMBER: 04102997 (England and Wales)















Satnam Property Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Satnam Property Ltd (Registered number: 04102997)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Satnam Property Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S Singh





REGISTERED OFFICE: 3 - 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





BUSINESS ADDRESS: Coney Glade
New Barn Road
Longfield
Kent
DA3 7LT





REGISTERED NUMBER: 04102997 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Satnam Property Ltd (Registered number: 04102997)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 377 202
Investment property 5 5,699,894 4,487,894
5,700,271 4,488,096

CURRENT ASSETS
Debtors 6 5,096,803 4,298,681
Cash at bank 21,704 164,070
5,118,507 4,462,751
CREDITORS
Amounts falling due within one year 7 3,218,237 3,263,784
NET CURRENT ASSETS 1,900,270 1,198,967
TOTAL ASSETS LESS CURRENT LIABILITIES 7,600,541 5,687,063

CREDITORS
Amounts falling due after more than one
year

8

(11,436

)

(20,479

)

PROVISIONS FOR LIABILITIES (399,782 ) (399,782 )
NET ASSETS 7,189,323 5,266,802

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 1,286,218 1,286,218
Retained earnings 5,903,005 3,980,484
7,189,323 5,266,802

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

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

Satnam Property Ltd (Registered number: 04102997)

Statement of Financial Position - continued
31 March 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 28 January 2025 and were signed by:





S Singh - Director


Satnam Property Ltd (Registered number: 04102997)

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

1. STATUTORY INFORMATION

Satnam Property Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Satnam Property Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income recognition
Income represents rental received or receivable during the year. Rental income is recognised from the point the properties are let net of any voids.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

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 statement of financial position date.


Satnam Property Ltd (Registered number: 04102997)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 April 2023 102 100 202
Additions 175 - 175
At 31 March 2024 277 100 377
NET BOOK VALUE
At 31 March 2024 277 100 377
At 31 March 2023 102 100 202

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

City View Developments Limited
Registered office: 5 London Road, Rainham, Gillingham, Kent, UK, ME8 7RG
Nature of business:
%
Class of shares: holding
Ordinary A 100.00
Ordinary B 100.00
2024 2023
£    £   
Aggregate capital and reserves (7,445 ) (6,197 )
Loss for the year/period (1,246 ) (1,128 )

Satnam Property Ltd (Registered number: 04102997)

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

4. FIXED ASSET INVESTMENTS - continued

TSB Capital Ltd
Registered office: Highgrove, New Barn Road, Longfield, England, DA3 7LT
Nature of business:
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (1,447 ) (380 )
Loss for the year/period (1,067 ) (480 )

Boora House Ltd
Registered office: 5 London Road, Rainham, Gillingham, Kent, United Kingdom, ME8 7RG
Nature of business:
%
Class of shares: holding
Ordinary 100.00
2024
£   
Aggregate capital and reserves 100

SPL Epping Ltd
Registered office: 5 London Road, Rainham, Gillingham, Kent, United Kingdom, ME8 7RG
Nature of business:
%
Class of shares: holding
Ordinary A 75.00
2024
£   
Aggregate capital and reserves (1,140 )
Loss for the year (1,240 )

Associated company

Peter Concrete Services Ltd
Registered office: 3-5 London Road, Rainham, Gillingham, England, ME8 7RG
Nature of business:
%
Class of shares: holding
Ordinary B 50.00
2024 2023
£    £   
Aggregate capital and reserves 1,404,318 1,522,984
Profit for the year/period 1,800,361 1,201,667

Satnam Property Ltd (Registered number: 04102997)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,487,894
Additions 1,212,000
At 31 March 2024 5,699,894
NET BOOK VALUE
At 31 March 2024 5,699,894
At 31 March 2023 4,487,894

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 5,699,894

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 3,358,176 3,349,015
Other debtors 1,738,627 949,666
5,096,803 4,298,681

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,910 8,557
Trade creditors 237 -
Amounts owed to associates 252,354 252,112
Taxation and social security 101,101 79,216
Other creditors 2,855,635 2,923,899
3,218,237 3,263,784

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,436 20,479