Sitha Investment Limited - Filleted accounts

Registered number

13790659

Sitha Investment Limited

Filleted Accounts

31 December 2024

Sitha Investment Limited
Registered number:		13790659
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Investments	3		-			750,000

Current assets
Debtors	4	-			8,000
Cash at bank and in hand		77,141			36,396
		77,141			44,396

Creditors: amounts falling due within one year	5	(53,768)			(26,065)

Net current assets			23,373			18,331

Total assets less current liabilities			23,373			768,331

Creditors: amounts falling due after more than one year	6		-			(617,716)

Provisions for liabilities			-			(31,821)

Net assets			23,373			118,794

Capital and reserves
Called up share capital			3			3
Profit and loss account			23,370			118,791

Shareholders' funds			23,373			118,794

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.




Savinder Singh
Director
Approved by the board on 5 March 2025

Sitha Investment Limited
Notes to the Accounts
for the year ended 31 December 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.

	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	Investments			Investment
property
£
	Fair value
	At 1 January 2024			750,000
	Fair value adjustment			(127,284)
	Disposals			(622,716)

	At 31 December 2024			-

	Historical cost
	At 1 January 2024			622,716

	The land and buildings were included in the accounts at a fair value of £ Nil ( 2023: £750,000). The valuation was provided by the directors.


4	Debtors	2024		2023
£			£

	Trade debtors	-		8,000


5	Creditors: amounts falling due within one year	2024		2023
£			£

	Trade creditors	-		12,844
	Taxation and social security costs	7,559		4,612
	Other creditors	18,200		8,600
	Director's account	28,009		9
		53,768		26,065


6	Creditors: amounts falling due after one year	2024		2023
£			£

	Other creditors	-		617,716


7	Related party transactions

	Included in other creditors falling due after one year,the amount of £ nil (2023: £ 622,716) is due to Asian Traders Limited, a company in which the directors and shareholders hold a material interest.


8	Other information

	Sitha Investment Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 5A
	Silverdale Road
	Hayes
	England
	UB3 3BL