0 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-09-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC741715 2023-09-01 2024-08-31 SC741715 2024-08-31 SC741715 2023-08-31 SC741715 2022-09-01 2023-08-31 SC741715 2023-08-31 SC741715 2022-08-31 SC741715 core:PlantMachinery 2023-09-01 2024-08-31 SC741715 bus:LeadAgentIfApplicable 2023-09-01 2024-08-31 SC741715 bus:Director1 2023-09-01 2024-08-31 SC741715 bus:Director2 2023-09-01 2024-08-31 SC741715 bus:RegisteredOffice 2023-09-01 2024-08-31 SC741715 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 SC741715 core:PlantMachinery 2023-08-31 SC741715 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 SC741715 core:PlantMachinery 2024-08-31 SC741715 core:AfterOneYear 2024-08-31 SC741715 core:AfterOneYear 2023-08-31 SC741715 core:WithinOneYear 2024-08-31 SC741715 core:WithinOneYear 2023-08-31 SC741715 core:ShareCapital 2024-08-31 SC741715 core:ShareCapital 2023-08-31 SC741715 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC741715 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC741715 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 SC741715 core:PlantMachinery 2023-08-31 SC741715 bus:SmallEntities 2023-09-01 2024-08-31 SC741715 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC741715 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC741715 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC741715 bus:FullAccounts 2023-09-01 2024-08-31
Company registration number: SC741715
Sarah Real Estate Limited
Unaudited filleted financial statements
31 August 2024
Sarah Real Estate Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Sarah Real Estate Limited
Directors and other information
Directors Dr Suhail Khan
Dr Sarah Khan
Company number SC741715
Stirling
FK8 1NA
Accountants Dickson Middleton
20 Barnton Street
Stirling
FK8 1NA
Bankers Starling Bank
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW
Sarah Real Estate Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Sarah Real Estate Limited
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sarah Real Estate Limited for the year ended 31 August 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Sarah Real Estate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sarah Real Estate Limited and state those matters that we have agreed to state to the board of directors of Sarah Real Estate Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sarah Real Estate Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sarah Real Estate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sarah Real Estate Limited. You consider that Sarah Real Estate Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sarah Real Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NA
24 May 2025
Sarah Real Estate Limited
Statement of financial position
31 August 2024
31/08/24 31/08/23
Note £ £ £ £
Fixed assets
Tangible assets 4 429,499 429,537
_______ _______
429,499 429,537
Current assets
Debtors 5 - 3,120
Cash at bank and in hand 4,702 7,080
_______ _______
4,702 10,200
Creditors: amounts falling due
within one year 6 ( 325,206) ( 327,754)
_______ _______
Net current liabilities ( 320,504) ( 317,554)
_______ _______
Total assets less current liabilities 108,995 111,983
Creditors: amounts falling due
after more than one year 7 ( 117,740) ( 117,740)
_______ _______
Net liabilities ( 8,745) ( 5,757)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 8,845) ( 5,857)
_______ _______
Shareholders deficit ( 8,745) ( 5,757)
_______ _______
For the year 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 May 2025 , and are signed on behalf of the board by:
Dr Suhail Khan
Director
Company registration number: SC741715
Sarah Real Estate Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 20 Barnton Street, Stirling, FK8 1NA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearst £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable from provision of rental properties.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
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.
Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 September 2023 424,788 5,480 430,268
Additions - 1,536 1,536
_______ _______ _______
At 31 August 2024 424,788 7,016 431,804
_______ _______ _______
Depreciation
At 1 September 2023 - 731 731
Charge for the year - 1,574 1,574
_______ _______ _______
At 31 August 2024 - 2,305 2,305
_______ _______ _______
Carrying amount
At 31 August 2024 424,788 4,711 429,499
_______ _______ _______
At 31 August 2023 424,788 4,749 429,537
_______ _______ _______
Investment property
Included in Freehold property are investment properties with a fair value of £424,788. Investment properties comprises a portfolio of residential properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 31 August 2024 by the directors. The valuation was made on an open market value basis.
5. Debtors
31/08/24 31/08/23
£ £
Trade debtors - 3,120
_______ _______
6. Creditors: amounts falling due within one year
31/08/24 31/08/23
£ £
Other creditors 325,206 327,754
_______ _______
7. Creditors: amounts falling due after more than one year
31/08/24 31/08/23
£ £
Bank loans and overdrafts 117,740 117,740
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ 117,740 (2023 £ 117,740 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
-
8. Controlling party
The company is controlled by Dr Suhail Khan .