Parmjit Sangha Properties Limited - Accounts to registrar (filleted)

PARMJIT SANGHA PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTOR:

P S Sangha

REGISTERED OFFICE:

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

REGISTERED NUMBER:

10892785 (England and Wales)

ACCOUNTANTS:

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Investment property

4

370,000

CURRENT ASSETS

Cash at bank

7,465

7,342

CREDITORS

Amounts falling due within one year

5

163,274

164,521

NET CURRENT LIABILITIES

(155,809

)

(157,179

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

214,191

212,821

CREDITORS

Amounts falling due after more than one
year

6

(142,307

)

(138,215

)

PROVISIONS FOR LIABILITIES

(16,248

)

(16,248

)

NET ASSETS

55,636

58,358

CAPITAL AND RESERVES

Called up share capital

100

Other reserves

32,935

Retained earnings

22,601

25,323

55,636

58,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 9th December 2025 and were signed by:

P S Sangha - Director

1.	STATUTORY INFORMATION

Parmjit Sangha Properties Limited 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 are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Rental income from residential properties is recognised as revenue on a straight-line basis over the lease term. Income is recorded when it is earned, and not when cash is received.

Rental income is presented gross, as the properties have not been opted to tax, and therefore no VAT is charged on rents.

Amounts received in advance are recorded as deferred income until the related rental period.

Security deposits are not recognised as revenue and are held as liabilities until returned to the tenant.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

370,000

NET BOOK VALUE

At 31st March 2025

370,000

At 31st March 2024

370,000

Fair value at 31st March 2025 is represented by:

£

Valuation in 2022

29,183

Valuation in 2023

20,000

Cost

320,817

370,000

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

31/3/25

31/3/24

£

Cost

320,817

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Corporation tax

-

1,248

Other creditors

683

682

Directors' current accounts

161,391

Accruals and deferred income

1,200

163,274

164,521

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31/3/25

31/3/24

£

Other loans

142,307

138,215

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

Mortgage

142,307

138,215

The property, 51 Triumph House, Manor House, Coventry, CV1 2EA , is financed by a secured, interest-only mortgage. The loan is initially recognised at the amount of proceeds received, net of any directly attributable transaction costs.

The mortgage is subsequently measured at amortised cost using the effective interest method.

As the loan is interest-only, no capital repayments are made during the term. The principal balance remains outstanding until the maturity date, when it becomes repayable in full.

Interest expense on the mortgage is recognised in the Profit & Loss on an accruals basis, reflecting the effective interest rate applicable to the borrowing.

The mortgage is secured by a first legal charge over the property.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parmjit Sangha Properties Limited for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Parmjit Sangha Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parmjit Sangha Properties Limited and state those matters that we have agreed to state to the director of Parmjit Sangha Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parmjit Sangha Properties Limited and its director for our work or for this report.

It is your duty to ensure that Parmjit Sangha Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Parmjit Sangha Properties Limited. You consider that Parmjit Sangha Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parmjit Sangha Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

10th December 2025