0 01/02/2024 31/01/2025 2025-01-31 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 2024-02-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 11779227 2024-02-01 2025-01-31 11779227 2025-01-31 11779227 2024-01-31 11779227 2023-02-01 2024-01-31 11779227 2024-01-31 11779227 2023-01-31 11779227 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 11779227 bus:RegisteredOffice 2024-02-01 2025-01-31 11779227 bus:Director1 2024-02-01 2025-01-31 11779227 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 11779227 core:FurnitureFittingsToolsEquipment 2024-01-31 11779227 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 11779227 core:FurnitureFittingsToolsEquipment 2025-01-31 11779227 core:WithinOneYear 2025-01-31 11779227 core:WithinOneYear 2024-01-31 11779227 core:AfterOneYear 2025-01-31 11779227 core:AfterOneYear 2024-01-31 11779227 core:ShareCapital 2025-01-31 11779227 core:ShareCapital 2024-01-31 11779227 core:RevaluationReserve 2025-01-31 11779227 core:RevaluationReserve 2024-01-31 11779227 core:RetainedEarningsAccumulatedLosses 2025-01-31 11779227 core:RetainedEarningsAccumulatedLosses 2024-01-31 11779227 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 11779227 core:FurnitureFittingsToolsEquipment 2024-01-31 11779227 bus:Director1 2024-01-31 11779227 bus:Director1 2025-01-31 11779227 bus:Director1 2023-01-31 11779227 bus:Director1 2024-01-31 11779227 bus:Director1 2023-02-01 2024-01-31 11779227 bus:SmallEntities 2024-02-01 2025-01-31 11779227 bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 11779227 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 11779227 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 11779227 bus:FullAccounts 2024-02-01 2025-01-31
Company registration number: 11779227
SEWAK PROPERTIES LIMITED
Unaudited filleted financial statements
31 January 2025
SEWAK PROPERTIES LIMITED
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
SEWAK PROPERTIES LIMITED
Directors and other information
Director Mr Manpreet Singh Sewak
Company number 11779227
Registered office 74 Devon Close
Perivale
Greenford
Middlesex
UB6 7DR
SEWAK PROPERTIES LIMITED
Statement of financial position
31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 326,639 326,522
_______ _______
326,639 326,522
Current assets
Debtors 5 970 3,644
Cash at bank and in hand 616 26,135
_______ _______
1,586 29,779
Creditors: amounts falling due
within one year 6 ( 129,005) ( 130,729)
_______ _______
Net current liabilities ( 127,419) ( 100,950)
_______ _______
Total assets less current liabilities 199,220 225,572
Creditors: amounts falling due
after more than one year 7 ( 199,803) ( 209,803)
_______ _______
Net (liabilities)/assets ( 583) 15,769
_______ _______
Capital and reserves
Called up share capital 100 100
Revaluation reserve 23,380 23,380
Profit and loss account ( 24,063) ( 7,711)
_______ _______
Shareholders (deficit)/funds ( 583) 15,769
_______ _______
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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 12 June 2025 , and are signed on behalf of the board by:
Mr Manpreet Singh Sewak
Director
Company registration number: 11779227
SEWAK PROPERTIES LIMITED
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 74 Devon Close, Perivale, Greenford, Middlesex, UB6 7DR.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 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.
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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 February 2024 315,506 16,270 331,776
Additions - 3,100 3,100
_______ _______ _______
At 31 January 2025 315,506 19,370 334,876
_______ _______ _______
Depreciation
At 1 February 2024 - 5,254 5,254
Charge for the year - 2,983 2,983
_______ _______ _______
At 31 January 2025 - 8,237 8,237
_______ _______ _______
Carrying amount
At 31 January 2025 315,506 11,133 326,639
_______ _______ _______
At 31 January 2024 315,506 11,016 326,522
_______ _______ _______
Investment property comprises of rental properties. The fair value of the investment properties has been arrived at on the basis of a valuation made on an open market value basis by reference to market evidence of transaction price for similar properties.
5. Debtors
2025 2024
£ £
Trade debtors 970 3,644
_______ _______
6. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 10,000 10,000
Other creditors 119,005 120,729
_______ _______
129,005 130,729
_______ _______
7. Creditors: amounts falling due after more than one year
2025 2024
£ £
Bank loans and overdrafts 199,803 209,803
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Manpreet Singh Sewak ( 119,439) - 1,724 ( 117,715)
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Manpreet Singh Sewak ( 105,500) ( 13,939) - ( 119,439)
_______ _______ _______ _______