IRIS Accounts Production v25.1.3.33 06339520 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063395202023-08-31063395202024-08-31063395202023-09-012024-08-31063395202022-08-31063395202022-09-012023-08-31063395202023-08-3106339520ns15:EnglandWales2023-09-012024-08-3106339520ns14:PoundSterling2023-09-012024-08-3106339520ns10:Director12023-09-012024-08-3106339520ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3106339520ns10:SmallEntities2023-09-012024-08-3106339520ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3106339520ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3106339520ns10:FullAccounts2023-09-012024-08-3106339520ns10:OrdinaryShareClass12023-09-012024-08-3106339520ns10:Director22023-09-012024-08-3106339520ns10:CompanySecretary12023-09-012024-08-3106339520ns10:RegisteredOffice2023-09-012024-08-3106339520ns5:CurrentFinancialInstruments2024-08-3106339520ns5:CurrentFinancialInstruments2023-08-3106339520ns5:Non-currentFinancialInstruments2024-08-3106339520ns5:Non-currentFinancialInstruments2023-08-3106339520ns5:ShareCapital2024-08-3106339520ns5:ShareCapital2023-08-3106339520ns5:RetainedEarningsAccumulatedLosses2024-08-3106339520ns5:RetainedEarningsAccumulatedLosses2023-08-3106339520ns5:FurnitureFittings2023-09-012024-08-3106339520ns5:FurnitureFittings2023-08-3106339520ns5:FurnitureFittings2024-08-3106339520ns5:FurnitureFittings2023-08-3106339520ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3106339520ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3106339520ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-08-3106339520ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-3106339520ns5:Secured2024-08-3106339520ns5:Secured2023-08-3106339520ns10:OrdinaryShareClass12024-08-3106339520ns5:RetainedEarningsAccumulatedLosses2023-08-3106339520ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-31
REGISTERED NUMBER: 06339520 (England and Wales)












SAPHIRE HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






SAPHIRE HOMES LIMITED (REGISTERED NUMBER: 06339520)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAPHIRE HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr P Adamou BSc, MCMI, FPC
Mr C Stylianou





SECRETARY: Mr P Adamou BSc, MCMI, FPC





REGISTERED OFFICE: South Point House
321 Chase Road
Southgate
London
N14 6JT





REGISTERED NUMBER: 06339520 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

SAPHIRE HOMES LIMITED (REGISTERED NUMBER: 06339520)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
CURRENT ASSETS
Stocks 5 1,955,254 1,955,254
Debtors 6 2,024,613 1,956,066
Cash at bank and in hand 15,766 6,217
3,995,633 3,917,537
CREDITORS
Amounts falling due within one year 7 2,350,654 2,322,866
NET CURRENT ASSETS 1,644,979 1,594,671
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,644,979

1,594,671

CREDITORS
Amounts falling due after more than one
year

8

1,729,000

1,729,000
NET LIABILITIES (84,021 ) (134,329 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (84,121 ) (134,429 )
SHAREHOLDERS' FUNDS (84,021 ) (134,329 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SAPHIRE HOMES LIMITED (REGISTERED NUMBER: 06339520)

BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





Mr P Adamou BSc, MCMI, FPC - Director


SAPHIRE HOMES LIMITED (REGISTERED NUMBER: 06339520)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Saphire Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As at the year end, the company has net liabilities of £84,021 (2023: £134,329) and rely on funds from its holding company to run its day to day business. The directors have confirmed that the holding company will continue to support the company for the foreseeable future. These accounts have therefore been prepared on a going concern basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, Fixtures & fittings - Straight line over 3 years

Stocks of properties
Stocks are valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overhead and interest to date of completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Other income
Other income represents rents receivable. Other income is recognised when rent becomes due under the rental agreement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SAPHIRE HOMES LIMITED (REGISTERED NUMBER: 06339520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Furniture,
Fixtures
& fittings
£   
COST
At 1 September 2023
and 31 August 2024 15,580
DEPRECIATION
At 1 September 2023
and 31 August 2024 15,580
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. STOCKS
31.8.24 31.8.23
£    £   
Stock of properties 1,955,254 1,955,254

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 64 64
Other debtors 20,200 45,162
Related company 1,999,986 1,907,108
Prepayments and accrued income 4,363 3,732
2,024,613 1,956,066

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 25,869 3,444
Corporation tax 36,840 35,992
Other creditors 10,550 10,550
Amounts due to group undertaking 1,775,052 1,725,052
Amounts owed to related companies 328,850 328,850
Directors' loan accounts 169,773 211,773
Accruals and deferred income 3,720 7,205
2,350,654 2,322,866

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 9) 1,729,000 1,729,000

SAPHIRE HOMES LIMITED (REGISTERED NUMBER: 06339520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,729,000 1,729,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 1,729,000 1,729,000

The bank loans are secured by fixed and floating charges on the stock of land and buildings held by the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 September 2023 (134,429 )
Profit for the year 50,308
At 31 August 2024 (84,121 )

13. ULTIMATE CONTROLLING PARTY

The company is controlled by Adams & Styles Properties Limited, by virtue of holding the entire share capital of the company. There is no overall control of Adams & Styles Properties Limited by any one person.