Sobha Real Estate UK Limited - Filleted accounts

Registered number

11156378

Sobha Real Estate UK Limited

Financial Statement

31 December 2024

Sobha Real Estate UK Limited
Registered number:		11156378
Balance Sheet
as at 31 December 2024

Notes			2024			2023

£				£
Fixed assets
Tangible assets	4		119,891			90,295

Current assets
Debtors	5	288,681			216,928
Cash at bank and in hand		207,202			56,061
		495,883			272,989

Creditors: amounts falling due within one year	6	(24,855)			(2,046,652)

Net current assets/(liabilities)			471,028			(1,773,663)

Net assets/(liabilities)			590,919			(1,683,368)

Capital and reserves
Called up share capital			1			1
Share premium			2,250,139			-
Profit and loss account			(1,659,221)			(1,683,369)

Shareholder's funds			590,919			(1,683,368)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 - Small entities.




Anuj Jain
Director
Approved by the board on 3 April 2025

Sobha Real Estate UK Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and companies act 2006.

	Going Concern
	As at the year end, the company has a surplus of net assets of £590,919 (Deficit in 2023: £1,683,369). The group believes that the global brand should have a presence in the UK market, with the main focus of the UK entity being to drive business into the group. As such Sobha Corporate LLC, the parent company, have committed to providing any ongoing support Sobha Real Estate UK Limited needs to continue its operations. Sobha Corporate LLC remains confident in its position to support the company for the foreseeable future and the financial statements have therefore been prepared on a going concern basis. The financial statements do not reflect any adjustments that might result should the parent be unable to continue to support the UK entity.
	`
	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold property			over the lease term
	Office equipment			25% Reducing balance
	Fixtures & fittings			25% Reducing balance

	Financial Instruments
	The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Current and deferred taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions for liabilities
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risk and uncertainties.

	Foreign currency translation

	Functional and presentational currency

	The company's functional and presentational currency is GBP.

	Transactions and Balances

	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Operating leases: the company as lessee
	Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

	Pensions

	Defined contribution pension plan

	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays a fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.


2	Audit information

	The audit report is not qualified.

	Senior statutory auditor:	Hemal Doshi
	Firm:	RDH Accountants Ltd
	Date of audit report:	3 April 2025


3	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					6		4


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	521,978		55,911		81,866		659,755
	Additions	-		115,581		-		115,581
	At 31 December 2024	521,978		171,492		81,866		775,336

	Depreciation
	At 1 January 2024	467,114		41,012		61,334		569,460
	Charge for the year	54,864		28,032		3,089		85,985
	At 31 December 2024	521,978		69,044		64,423		655,445

	Net book value
	At 31 December 2024	-		102,448		17,443		119,891
	At 31 December 2023	54,864		14,899		20,532		90,295




5	Debtors					2024		2023

£							£

	Deferred tax asset					-		17,775
	Prepayments					16,695		-
	Other debtors					271,986		199,153
						288,681		216,928


6	Creditors: amounts falling due within one year					2024		2023

£							£

	Trade creditors					7,440		8,923
	Amounts owed to group undertakings					-		2,021,278
	Taxation and social security costs					-		3,940
	Accruals					12,075		3,200
	Other creditors					5,340		9,311
						24,855		2,046,652


7	Commitment under operating leases					2024		2023

£							£

	Total future minimum payments under non-cancellable operating leases					295,194		284,455


8	Related party transactions

	As a wholly owned subsidiary undertaking the Company has taken advantage of exemption conferred by FRS102 paragraph 1AC.35 and has not separately disclosed transactions with the ultimate parent company.


9	Controlling party

	Sobha Corporate LLC, a company registered in Dubai, is a parent company of the Sobha group of which consolidated financial statements are drawn up of which the company is a member. Consolidated financial statements can be obtained from the parent company's registered office: Sobha Sapphire Building, Al Khalil Road, Business Bay, Dubai.



10	Other information

	Sobha Real Estate UK Limited is a private company limited by shares and incorporated in England. The address of the principle place of business is 92 Park Lane, London W1K 7TA. Its registered office is:
	2nd Floor, Magna House
	18-32 London Road
	Staines-Upon-Thames
	Surrey
	TW18 4BP

	The financial statements are presented in sterling which is the functional currency of the company and rounded to nearest £.