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Company Registration No. SC261873 (Scotland)
Sadco Properties Ltd. Unaudited accounts for the year ended 31 January 2025
Sadco Properties Ltd. Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Sadco Properties Ltd. Company Information for the year ended 31 January 2025
Directors
M Saleem Sadiq Amjid Sadiq Arshad Sadiq
Company Number
SC261873 (Scotland)
Registered Office
2 Methven Avenue Bearsden Glasgow G61 2AX
Accountants
AMS Accounting Services Ltd Chartered Certified Accountants 7 Callanish Crescent Newton Mearns Glasgow United Kingdom G77 5WT
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Sadco Properties Ltd. Statement of financial position as at 31 January 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
176
176
Tangible assets
5
20,249
25,503
Investment property
6
2,273,067
2,273,067
2,293,492
2,298,746
Current assets
Cash at bank and in hand
6,347
10,329
Creditors: amounts falling due within one year
7
(26,002)
(24,965)
Net current liabilities
(19,655)
(14,636)
Total assets less current liabilities
2,273,837
2,284,110
Creditors: amounts falling due after more than one year
8
(905,394)
(911,705)
Net assets
1,368,443
1,372,405
Capital and reserves
Called up share capital
9
5,000
5,000
Profit and loss account
1,363,443
1,367,405
Shareholders' funds
1,368,443
1,372,405
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by
M Saleem Sadiq Director Company Registration No. SC261873
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Sadco Properties Ltd. Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
Sadco Properties Ltd. is a private company, limited by shares, registered in Scotland, registration number SC261873. The registered office is 2 Methven Avenue, Bearsden, Glasgow, G61 2AX.
2
Compliance with accounting standards
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover from rental income represents the value of the rental amount under the agreement to the extent that there is a right to the considerations and is recorded at the value of the considerations due.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation and any accumulated impairment losses. Formation expenses are being amortised evenly over their estimated useful life of nil years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance basis
Motor vehicles
25% on reducing balance basis
Fixtures & fittings
15% on reducing balance basis
Investment property
Investment property is included at market fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in income statement. Deferred taxation is provided on these 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 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.
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Sadco Properties Ltd. Notes to the Accounts for the year ended 31 January 2025
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
£
Cost
At 1 February 2024
176
At 31 January 2025
176
Amortisation
At 1 February 2024
-
At 31 January 2025
-
Net book value
At 31 January 2025
176
At 31 January 2024
176
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Sadco Properties Ltd. Notes to the Accounts for the year ended 31 January 2025
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 February 2024
5,672
23,431
37,448
66,551
At 31 January 2025
5,672
23,431
37,448
66,551
Depreciation
At 1 February 2024
4,865
9,153
27,030
41,048
Charge for the year
121
3,570
1,563
5,254
At 31 January 2025
4,986
12,723
28,593
46,302
Net book value
At 31 January 2025
686
10,708
8,855
20,249
At 31 January 2024
807
14,278
10,418
25,503
6
Investment property
2025
£
Fair value at 1 February 2024
2,273,067
At 31 January 2025
2,273,067
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
22,919
20,806
Taxes and social security
11
82
Other creditors
1,467
1,467
Accruals
1,605
2,610
26,002
24,965
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
-
1,366
Loans from directors
905,394
910,339
905,394
911,705
9
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
5,000 Ordinary shares of £1 each
5,000
5,000
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Sadco Properties Ltd. Notes to the Accounts for the year ended 31 January 2025
10
Transactions with related parties
The company owes Mr M S Sadiq, a director, an amount of £299,532 (2024: £304,477) as at the balance sheet date. There is no interest on this loan and no fixed date for repayment. The company owes Mr Amjid Sadiq, a director, an amount of £276,270 (2024 : £276,270) as at the balance sheet date. There is no interest on this loan and no fixed date for repayment. The company owes Mr Arshad Sadiq, a director, an amount of £329,592 (2024 : £329,592) as at the balance sheet date. There is no interest on this loan and no fixed date for repayment.
11
Controlling party
There was no ultimate controlling party during the year.
12
Average number of employees
During the year the average number of employees was 3 (2024: 3).
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