REGISTERED NUMBER: 08819600 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIDHU PROPERTIES NE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S S Sidhu

Mrs J Sidhu

REGISTERED OFFICE:

23 Yarm Road

Stockton on Tees

TS18 3NJ

REGISTERED NUMBER:

08819600 (England and Wales)

ACCOUNTANTS:

Lyons & Co Ltd

23 Yarm Road

Stockton on Tees

TS18 3NJ

FIXED ASSETS

Tangible assets

4

59,222

79,135

Investment property

5

1,780,000

1,372,604

1,839,222

1,451,739

CURRENT ASSETS

Debtors

5,972

4,176

Cash at bank

41,958

24,316

47,930

28,492

CREDITORS

Amounts falling due within one year

57,717

44,102

NET CURRENT LIABILITIES

(9,787

)

(15,610

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,829,435

1,436,129

CREDITORS

Amounts falling due after more than one year

(590,484

)

(633,188

)

PROVISIONS FOR LIABILITIES

(162,331

)

(84,926

)

NET ASSETS

1,076,620

718,015

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

7

692,045

362,054

Retained earnings

7

384,475

355,861

SHAREHOLDERS' FUNDS

1,076,620

718,015

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2025 and were signed on its behalf by:

Mr S S Sidhu - Director

Mrs J Sidhu - Director

1.	STATUTORY INFORMATION

Sidhu Properties NE 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures & fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Investment property

Investment properties are included in the accounts at open market value as estimated by the directors.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

85,346

DEPRECIATION

At 1 January 2024

6,211

Charge for year

19,913

At 31 December 2024

26,124

NET BOOK VALUE

At 31 December 2024

59,222

At 31 December 2023

79,135

5.	INVESTMENT PROPERTY

Investment properties are included in the accounts at open market value as estimated by the directors. No depreciation is charged on investment properties which contravenes the Companies Act 2006 but adheres to SSAP19 which is necessary to show a true and fair view.

Cost or valuation at 31 December 2024 is represented by:

£

Valuation in 2018

446,980

Valuation in 2024

407,396

Cost

925,624

1,780,000

If the investment property had not been revalued it would have been included at the following historical cost:

31/12/24

31/12/23

£

£

Cost

925,624

925,624

The investment property was valued on an open market basis on 31 December 2024 by the directors .

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank loans

227,793

242,229

The bank loans are secured by a charge on the properties and by a debenture over the other assets of the company. The loans are at normal commercial rates.

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

355,861

362,054

717,915

Profit for the year

28,614

28,614

Movement in year

-

329,991

329,991

At 31 December 2024

384,475

692,045

1,076,520

The revaluation reserve is non-distributable and arises from the revaluation of investment properties to their market value. As a result of the transition to FRS102 the reserve has been reduced by the provision of deferred tax on the profit which would arise on the disposal of the properties at their market value.

8.	RELATED PARTY DISCLOSURES

The company has a loan with Aspire U Ltd, a company controlled by the directors. The total amount outstanding at 31 December 2024 was £189,721 (2023 - £203,347) including interest for the year of £5,525 (2023 - £6,206). Interest is charged at normal commercial rates.

The amount owed to the directors outstanding at 31 December 2024 was £126,410 (2023 - £133,617) which includes total interest charged for the year of £2,614 (2023 - £3,040) which is charged at normal commercial rates.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs Sidhu.