REGISTERED NUMBER: 09230892 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Sami Property Co Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S S Tayub

S S Tayub

REGISTERED OFFICE:

First Floor

13 - 15 Canfield Place

London

NW6 3BT

REGISTERED NUMBER:

09230892 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

10,547

24,546

Investments

5

90

90

Investment property

6

21,178,036

19,449,732

21,188,673

19,474,368

CURRENT ASSETS

Debtors

7

2,073,079

1,767,012

Cash at bank

357,759

326,869

2,430,838

2,093,881

CREDITORS

Amounts falling due within one year

8

(10,223,116

)

(10,514,166

)

NET CURRENT LIABILITIES

(7,792,278

)

(8,420,285

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,396,395

11,054,083

CREDITORS

Amounts falling due after more than one year

9

(3,528,009

)

(1,874,359

)

PROVISIONS FOR LIABILITIES

(337,818

)

(286,145

)

NET ASSETS

9,530,568

8,893,579

CAPITAL AND RESERVES

Called up share capital

11

2,000,000

2,000,000

Fair value reserve

1,454,605

1,289,088

Retained earnings

6,075,963

5,604,491

SHAREHOLDERS' FUNDS

9,530,568

8,893,579

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:

S S Tayub - Director

1.	STATUTORY INFORMATION

Sami Property Co Ltd 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

Basis of preparing the financial statements

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 modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. This assumption depends on the ability of the directors to maintain the necessary financial support.

Preparation of consolidated financial statements

The financial statements contain information about Sami Property Co Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rents and recharges receivable, net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on cost

Computer equipment

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is included at fair value. Gains or losses are recognised in the Profit and Loss Account. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

53,039

7,842

60,881

DEPRECIATION

At 1 January 2024

33,422

2,913

36,335

Charge for year

13,260

739

13,999

At 31 December 2024

46,682

3,652

50,334

NET BOOK VALUE

At 31 December 2024

6,357

4,190

10,547

At 31 December 2023

19,617

4,929

24,546

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

90

NET BOOK VALUE

At 31 December 2024

90

At 31 December 2023

90

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

19,449,732

Additions

1,507,614

Revaluations

220,690

At 31 December 2024

21,178,036

NET BOOK VALUE

At 31 December 2024

21,178,036

At 31 December 2023

19,449,732

The directors consider the fair value of investment property at the year end to be £21,178,036 (2023 £19,449,732). Valuations of investment property have been made on an open market value for existing use basis.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

83,803

71,155

Amounts owed by group undertakings

1,892,058

1,631,327

Other debtors

97,218

64,530

2,073,079

1,767,012

Other debtors include £90,235 of prepayments and accrued income (2023 £63,774).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

54,442

-

Trade creditors

23,133

23,083

Taxation and social security

104,561

131,078

Other creditors

10,040,980

10,360,005

10,223,116

10,514,166

Other creditors include £192,306 of accruals and deferred income (2023 £205,423).

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

3,528,009

1,874,359

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

3,582,451

1,874,359

Bank loans are secured over the assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,040,000

A Ordinary

£1

1,040,000

1,040,000

320,000

B Ordinary

£1

320,000

320,000

320,000

C Ordinary

£1

320,000

320,000

320,000

D Ordinary

£1

320,000

320,000

2,000,000

2,000,000