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REGISTERED NUMBER: 09425622 (England and Wales)















Financial Statements for the Year Ended 31st March 2024

for

Sassari Properties Ltd

Sassari Properties Ltd (Registered number: 09425622)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sassari Properties Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: Mr J Calzaghe





REGISTERED OFFICE: 106a Commercial Street
Risca
Newport
NP11 6EE





REGISTERED NUMBER: 09425622 (England and Wales)

Sassari Properties Ltd (Registered number: 09425622)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,598 14,882
Investment property 5 1,109,959 1,108,844
1,122,557 1,123,726

CURRENT ASSETS
Debtors 6 7,298 -
Cash at bank 484,714 474,113
492,012 474,113
CREDITORS
Amounts falling due within one year 7 1,639,485 1,584,843
NET CURRENT LIABILITIES (1,147,473 ) (1,110,730 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,916

)

12,996

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (24,926 ) 12,986
SHAREHOLDERS' FUNDS (24,916 ) 12,996

Sassari Properties Ltd (Registered number: 09425622)

Balance Sheet - continued
31st March 2024


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

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

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 and Director's Report has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th March 2025 and were signed by:





Mr J Calzaghe - Director


Sassari Properties Ltd (Registered number: 09425622)

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

1. STATUTORY INFORMATION

Sassari Properties 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at variable rates on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Sassari Properties Ltd (Registered number: 09425622)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 40,781
DEPRECIATION
At 1st April 2023 25,899
Charge for year 2,284
At 31st March 2024 28,183
NET BOOK VALUE
At 31st March 2024 12,598
At 31st March 2023 14,882

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 1,108,844
Additions 1,115
At 31st March 2024 1,109,959
NET BOOK VALUE
At 31st March 2024 1,109,959
At 31st March 2023 1,108,844

The value of investment property is considered to not have materially changed since acquisition, and is accordingly included at cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 540 -
Other debtors 6,758 -
7,298 -

Sassari Properties Ltd (Registered number: 09425622)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,136 -
Taxation and social security 358 5,403
Other creditors 1,636,991 1,579,440
1,639,485 1,584,843

8. RELATED PARTY DISCLOSURES

Sassari Properties Ltd is under common control with another company - Joe Calzaghe Ltd.

The inter-company account balance of £72,711 (2022: £72,711) is shown in other creditors.