Registration number: 10014012

Sital Holdings Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Sital Holdings Limited

(Registration number: 10014012)
Balance Sheet as at 29 February 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	4	1,002,696	1,002,696
Current assets
Debtors	5	60,187	60,187
Cash at bank and in hand		60,017	6,235
		120,204	66,422
Creditors: Amounts falling due within one year	6	(299,922)	(269,612)
Net current liabilities		(179,718)	(203,190)
Total assets less current liabilities		822,978	799,506
Creditors: Amounts falling due after more than one year	6	(794,076)	(799,632)
Net assets/(liabilities)		28,902	(126)
Capital and reserves
Called up share capital		100	100
Retained earnings		28,802	(226)
Shareholders' funds/(deficit)		28,902	(126)

Sital Holdings Limited

(Registration number: 10014012)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 and 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 director on 3 April 2025
 

......................................... Mr K Singh Director

Sital Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Pavilion Square Cricketers Way
Westhoughton
Bolton
Bolton
BL5 3AJ
United Kingdom

These financial statements were authorised for issue by the director on 3 April 2025.

2	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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Sital Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Depreciation

Asset class	Depreciation method and rate
Property	No depreciation rate

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Sital Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4	Investment properties

	2024 £
At 1 March	1,002,696
At 29 February	1,002,696

Investment Properties held at fair value during the year, the director has assessed that property values remain appropriate and deems no movement in fair value. The properties have not been assessed by an independent valuer.

5

Debtors

	Note	2024 £	2023 £
Amounts owed by related parties		57,187	57,187
Other debtors		3,000	3,000
		60,187	60,187

Sital Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		5,556	5,556
Taxation and social security		9,337	-
Accruals and deferred income		1,300	600
Other creditors		283,729	263,456
		299,922	269,612

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		794,076	799,632

Creditors include bank loans not repayable by instalments of £761,206 (2023 - £761,206) due after more than five years.