Registration number:
SABR Industries Holdings Ltd
for the Period from 15 August 2023 to 31 August 2024
SABR Industries Holdings Ltd
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
SABR Industries Holdings Ltd
(Registration number: 15072000)
Statement of Financial Position as at 31 August 2024
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Note |
2024 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
200 |
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Profit and loss account |
(17,604) |
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Shareholders' deficit |
(17,404) |
For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Principal activity
The principal activity of the company is is that of a holding company which is investing in property for rental.
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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.
This company is a parent company of a small group and hence is exempt from preparing group accounts. These accounts show only the results of this company and not the group.
The financial statements are prepared in sterling which is the functional currency of the entity.
SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024 (continued)
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2 |
Accounting policies (continued) |
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.
The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis,
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
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 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.
Investment property
SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024 (continued)
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2 |
Accounting policies (continued) |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
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 statement of comprehensive income 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.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024 (continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Investment properties |
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2024 |
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Additions |
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At 31 August |
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There has been no valuation of investment property by an independent valuer.
All property is included at cost as this is equal to market value of the property as at the period end.
Included in the cost of investment property is £755,775 relating to freehold property and £60,688 in respect of long leasehold property.
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Investments |
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2024 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 31 August 2024 |
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SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024 (continued)
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5 |
Investments (continued) |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
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Subsidiary undertakings |
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12 Manor Park Drive
England and Wales |
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Subsidiary undertakings |
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SABR Industries Ltd The principal activity of SABR Industries Ltd is |
On 28 May 2024, SABR Industries Holdings Ltd acquired 100% of the share capital of SABR Industries Ltd under a share for share exchange from its director Mr B J Nicholls.
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Debtors |
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2024 |
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Prepayments |
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SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024 (continued)
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
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Due after one year |
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Loans and borrowings |
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Creditors include loan not repayable by instalments of £1,401,115 due after more than five years.
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Share capital |
Allotted, called up and fully paid shares
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2024 |
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No. |
£ |
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200 |
100 £1 shares were issued for incorporation purposes. A further 100 £1 shares were issued on 28 May 2024 when a share for share exchange took place with its subsidiary.
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
SABR Industries Holdings Ltd
Notes to the Unaudited Financial Statements for the Period from 15 August 2023 to 31 August 2024 (continued)
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
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Other borrowings |
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Related party transactions |
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Transactions with directors |
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2024 |
At 15 August 2023 |
Advances to director |
Repayments by director |
At 31 August 2024 |
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Directors |
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