Acorah Software Products - Accounts Production 16.2.850 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 10871748 Mr Mohammad Raza Saba iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10871748 2023-01-31 10871748 2024-01-31 10871748 2023-02-01 2024-01-31 10871748 frs-core:CurrentFinancialInstruments 2024-01-31 10871748 frs-core:Non-currentFinancialInstruments 2024-01-31 10871748 frs-core:FurnitureFittings 2024-01-31 10871748 frs-core:FurnitureFittings 2023-02-01 2024-01-31 10871748 frs-core:FurnitureFittings 2023-01-31 10871748 frs-core:OtherReservesSubtotal 2024-01-31 10871748 frs-core:ShareCapital 2024-01-31 10871748 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 10871748 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10871748 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 10871748 frs-bus:SmallEntities 2023-02-01 2024-01-31 10871748 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 10871748 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10871748 frs-bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10871748 frs-bus:OrdinaryShareClass1 2024-01-31 10871748 frs-core:DeferredTaxation 2023-02-01 2024-01-31 10871748 frs-core:DeferredTaxation 2023-01-31 10871748 frs-core:DeferredTaxation 2024-01-31 10871748 frs-bus:Director1 2023-02-01 2024-01-31 10871748 1 2023-02-01 2024-01-31 10871748 frs-countries:EnglandWales 2023-02-01 2024-01-31 10871748 2022-01-31 10871748 2023-01-31 10871748 2022-02-01 2023-01-31 10871748 frs-core:CurrentFinancialInstruments 2023-01-31 10871748 frs-core:Non-currentFinancialInstruments 2023-01-31 10871748 frs-core:OtherReservesSubtotal 2023-01-31 10871748 frs-core:ShareCapital 2023-01-31 10871748 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 10871748 frs-bus:OrdinaryShareClass1 2022-02-01 2023-01-31 10871748 1 2022-02-01 2023-01-31
Registered number: 10871748
Saba & Saba Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Daverns
Chartered Accountants
Hardy House
Northbridge Road
Berkhamsted
Herts
HP4 1EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10871748
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,616 2,154
Investment Properties 5 964,384 1,394,384
966,000 1,396,538
CURRENT ASSETS
Debtors 6 5,223 3,050
Cash at bank and in hand 1 6
5,224 3,056
Creditors: Amounts Falling Due Within One Year 7 (198,258 ) (371,579 )
NET CURRENT ASSETS (LIABILITIES) (193,034 ) (368,523 )
TOTAL ASSETS LESS CURRENT LIABILITIES 772,966 1,028,015
Creditors: Amounts Falling Due After More Than One Year 8 (590,732 ) (830,211 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (25,293 ) (30,688 )
NET ASSETS 156,941 167,116
CAPITAL AND RESERVES
Called up share capital 12 20 20
Other reserves 99,556 153,048
Profit and Loss Account 57,365 14,048
SHAREHOLDERS' FUNDS 156,941 167,116
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammad Raza Saba
Director
9th May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Saba & Saba Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10871748 . The registered office is Hardy House , Northbridge Road , Berkhamsted , Herts , HP4 1EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents rents receivable, excluding value added tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Directors 1 1
1 1
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 February 2023 6,533
As at 31 January 2024 6,533
Depreciation
As at 1 February 2023 4,379
Provided during the period 538
As at 31 January 2024 4,917
Net Book Value
As at 31 January 2024 1,616
As at 1 February 2023 2,154
5. Investment Property
2024
£
Fair Value
As at 1 February 2023 1,394,384
Disposals (430,000 )
As at 31 January 2024 964,384
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,223 3,050
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 25,255 33,912
Corporation tax 20,722 8,418
Other creditors 91,685 166,873
Accruals and deferred income 6,132 7,643
Director's loan account 54,464 154,733
198,258 371,579
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 590,732 830,211
In November 2017 the company entered in to an interest only mortgage for 25 years at a fixed rate of 3.79% for the first five years which is then followed by a variable rate.
In December 2017 the company entered in to an interest only mortgage for 25 years at a fixed rate of 3.79% for the first five years which is then followed by a variable rate.
In September 2019 the company entered in to an interest only mortgage for 25 years at a fixed rate of 3.69%.
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The company has provided fixed charges, floating charges, legal mortgage and negative pledge on the company assets in favour of the company lenders.
2024 2023
£ £
Bank loans and overdrafts 615,987 864,123
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 25,293 30,688
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 30,688 30,688
Reversals (5,395 ) (5,395)
Balance at 31 January 2024 25,293 25,293
12. Share Capital
2024 2023
Allotted, called up and fully paid £ £
20 Ordinary Shares of £ 1 each 20 20
13. Directors Advances, Credits and Guarantees
The director has provided personal guarantee to the company's lenders.
14. Reserves
Included in the reserves is an amount of £99,556 which represents the fair value adjustment in respect of investment properties. This amount cannot be distributed to the members as it represents an unrealised surplus in respect of the fair value adjustment pertaining to the investment properties. 
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