Registered number
12733394
Saras Properties Limited
Filleted Accounts
31 August 2024
Saras Properties Limited
Registered number: 12733394
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 92,639 98,892
Investments 4 2,294,226 2,294,226
2,386,865 2,393,118
Current assets
Debtors 5 120 11,295
Cash at bank and in hand 7,672 61,200
7,792 72,495
Creditors: amounts falling due within one year 6 (49,260) (51,218)
Net current (liabilities)/assets (41,468) 21,277
Total assets less current liabilities 2,345,397 2,414,395
Creditors: amounts falling due after more than one year 7 (2,198,862) (2,273,582)
Net assets 146,535 140,813
Capital and reserves
Called up share capital 120 120
Profit and loss account 146,415 140,693
Shareholders' funds 146,535 140,813
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chetan Motilal Thakkar
Director
Approved by the board on 28 May 2025
Saras Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rent receivable on the investment property of the company.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Investment property
Investment properties are held to earn rental income and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on a ongoing basis are measured at a fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period in which they arise.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 150,000
Additions 8,800
At 31 August 2024 158,800
Depreciation
At 1 September 2023 51,108
Charge for the year 15,053
At 31 August 2024 66,161
Net book value
At 31 August 2024 92,639
At 31 August 2023 98,892
4 Investments
Investment
property
£
Cost
At 1 September 2023 2,294,226
At 31 August 2024 2,294,226
5 Debtors 2024 2023
£ £
Other debtors - 11,175
Calls due on shares issued 120 120
120 11,295
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,183 19,052
Taxation and social security costs 3,977 15,666
Other creditors 32,100 16,500
49,260 51,218
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 2,198,862 2,273,582
8 Related party transactions
Included in other creditors falling due after one year, the amount of £2,198,862 (2023: £2,273,582) is due to Asian Traders Limited, a company in which the directors and shareholders hold a material interest.
9 Other information
Saras Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5a, Silverdale Road
Silverdale Industrial Estate
Hayes
Middlesex
UB3 3BL
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