Sa2 Properties Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10152027

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		614,141		614,490

			614,141		614,490
CURRENT ASSETS
Cash at bank and in hand		7,879		559

		7,879		559
Creditors: Amounts Falling Due Within One Year	5	(25,378 )		(77,219 )

NET CURRENT ASSETS (LIABILITIES)			(17,499 )		(76,660 )

TOTAL ASSETS LESS CURRENT LIABILITIES			596,642		537,830

Creditors: Amounts Falling Due After More Than One Year	6		(390,598 )		(327,298 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(41,174 )		(41,240 )

NET ASSETS			164,870		169,292

CAPITAL AND RESERVES
Called up share capital	7		2		1
Revaluation reserve			176,682		-
Profit and Loss Account			(11,814 )		169,291

SHAREHOLDERS' FUNDS			164,870		169,292

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Sa2 Properties Ltd

Balance Sheet (continued)

As At 31 October 2024

For the year ending 31 October 2024 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Solomon Abuede

Director

22/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Sa2 Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10152027 . The registered office is 23 Middleton Park Circus, Leeds, LS10 4LX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0% Straight Line Method
Fixtures & Fittings	10% Reducing Balance Method

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

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Sa2 Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 November 2023	611,000	4,324	615,324

As at 31 October 2024	611,000	4,324	615,324

Depreciation
As at 1 November 2023	-	834	834
Provided during the period	-	349	349

As at 31 October 2024	-	1,183	1,183

Net Book Value
As at 31 October 2024	611,000	3,141	614,141

As at 1 November 2023	611,000	3,490	614,490

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,045	1,045
Bank loans and overdrafts	10,484	10,823
Corporation tax	-	969
Other creditors	2,000	2,000
Accruals and deferred income	600	1,116
Amounts owed to group undertakings	11,249	61,266

	25,378	77,219

6. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	390,598	327,298

7. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1 Ordinary A shares of £ 1.00 each	1	1
1 Ordinary B shares of £ 1.00 each	1	-

	2	1


Shares issued during the period:	£
1 Ordinary B shares of £ 1.00 each	1

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Sa2 Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

8. Related Party Transactions

SA2 Limited

The directors and shareholders are also directors and shareholders in SA2 Limited

As at the balance sheet date, SA2 Limited owes the company £38,751 (2023 - £11,266 were owed to SA2 Limited). There are no fixed repayment terms and no interest is charged.

Gia Group Limited

Parental Company

As at the balance sheet date, the company owed GIA Group Limited £50,000 (October 2023 - £50,000). No interest is charged on the loan and there are no set repayment terms.

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