REGISTERED NUMBER: 12657425 (England and Wales)

SAVA PROPERTY LIMITED

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

DIRECTORS:

Mr S H Patel

Mrs V S Patel

REGISTERED OFFICE:

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

REGISTERED NUMBER:

12657425 (England and Wales)

SENIOR STATUTORY AUDITOR:

Antony Kounnis FCCA

AUDITORS:

Christiansons Ltd

Chartered Certified Accountants

& Statutory Auditors

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of holding investment properties.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr S H Patel

Mrs V S Patel

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Christiansons Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S H Patel - Director

15 December 2025

Opinion

We have audited the financial statements of Sava Property Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, represent instances of non-compliance with laws and regulations. We implement procedures aligned with our responsibilities, as outlined above, to detect material misstatements related to irregularities, including fraud. The effectiveness of our procedures in identifying such irregularities are detailed below.

We considered the nature of the company's industry and its control environment, and we reviewed the company's policies and procedures concerning fraud and compliance with laws and regulations. Additionally, we consulted with management about their own identification and assessment of the risks associated with irregularities.

We gained an understanding of the legal and regulatory framework in which the company operates, identifying key laws and regulations that:

1. Have a direct effect on the determination of material amounts and disclosures in the financial statements, such as the UK Companies Act, pensions legislation, and tax legislation.

2. Do not directly affect the financial statements but are fundamental to the company's ability to operate or to avoid significant penalties, such as regulatory solvency requirements and environmental regulations.

We also discussed with the audit engagement team, including relevant internal specialists such as those in tax, valuations, pensions, and IT, about the opportunities and incentives for fraud that may exist within the organization and how and where fraud could occur in the financial statements.

Because of the discussion, we identified the following high risk areas with the potential of significant high fraud risk. We have also described below our procedures to address these risk:

1. Valuation of the investment properties at the year-end. Apart from obtaining management representions on this issue we have also obtain online valuations from online estate agents websites. All which has been documented.

2 . As a norm for audits under ISAs (UK), we are also required to perform audit procedures to respond to the risk of management override. We responded by testing the appropriateness of the journal entries and other estimates in the financial statements, considering their potential bias and evaluated the business rational of a significant transactions that are unusual or outside the normal course of the business.

We have also reviewed, the disclosures by testing the supporting documentation to assess the compliance with relevant laws and regulations which have a direct effect on the financial statements.

We have also performed analytical reviews alongside management enquiry to indemnify potential litigation or claims, and instance of non-compliance with the laws and regulation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Antony Kounnis FCCA (Senior Statutory Auditor)

for and on behalf of Christiansons Ltd

Chartered Certified Accountants

& Statutory Auditors

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

15 December 2025

REVENUE

637,090

846,014

Administrative expenses

227,592

649,726

OPERATING PROFIT

409,498

196,288

Interest receivable and similar income

3,906

1,137

PROFIT BEFORE TAXATION

413,404

197,425

Tax on profit

3

103,351

45,377

PROFIT FOR THE FINANCIAL YEAR

310,053

152,048

OTHER COMPREHENSIVE INCOME

Increase in deferred tax provision

Income tax relating to other comprehensive income

(200,473

)

(16,207

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(200,473

)

(16,207

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

109,580

135,841

FIXED ASSETS

Investment property

5

22,856,257

22,856,257

CURRENT ASSETS

Debtors

6

643,835

120,672

Cash at bank

427,368

190,845

1,071,203

311,517

CREDITORS

Amounts falling due within one year

7

247,925

663,948

NET CURRENT ASSETS/(LIABILITIES)

823,278

(352,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,679,535

22,503,826

CREDITORS

Amounts falling due after more than one year

8

(865,656

)

-

PROVISIONS FOR LIABILITIES

10

(903,414

)

(702,941

)

NET ASSETS

21,910,465

21,800,885

CAPITAL AND RESERVES

Called up share capital

11

2,000

2,000

Share premium

12

11,798,000

11,798,000

Fair value reserve

12

4,066,300

4,266,773

Retained earnings

12

6,044,165

5,734,112

SHAREHOLDERS' FUNDS

21,910,465

21,800,885

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

Mr S H Patel - Director

Called up

Fair

share

Retained

Share

value

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 October 2022

2,000

5,882,064

11,798,000

4,282,980

21,965,044

Changes in equity

Dividends

-

(300,000

)

-

-

(300,000

)

Total comprehensive income

-

152,048

-

(16,207

)

135,841

Balance at 31 March 2024

2,000

5,734,112

11,798,000

4,266,773

21,800,885

Changes in equity

Total comprehensive income

-

310,053

-

(200,473

)

109,580

Balance at 31 March 2025

2,000

6,044,165

11,798,000

4,066,300

21,910,465

Cash flows from operating activities

Cash generated from operations

1

337,746

156,944

Tax paid

(46,221

)

(74,427

)

Net cash from operating activities

291,525

82,517

Cash flows from investing activities

Interest received

3,906

1,137

Net cash from investing activities

3,906

1,137

Cash flows from financing activities

New loans in year

891,145

-

Amounts due to group undertakings

(950,053

)

200,995

Equity dividends paid

-

(300,000

)

Net cash from financing activities

(58,908

)

(99,005

)

Increase/(decrease) in cash and cash equivalents

236,523

(15,351

)

Cash and cash equivalents at beginning of year

2

190,845

206,196

Cash and cash equivalents at end of year

2

427,368

190,845

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.10.22

Year Ended

to

31.3.25

31.3.24

£

£

Profit before taxation

413,404

197,425

Finance income

(3,906

)

(1,137

)

409,498

196,288

Increase in trade and other debtors

(34,987

)

(39,721

)

(Decrease)/increase in trade and other creditors

(36,765

)

377

Cash generated from operations

337,746

156,944

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

427,368

190,845

Period ended 31 March 2024

31.3.24

1.10.22

£

£

Cash and cash equivalents

190,845

206,196

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

190,845

236,523

427,368

190,845

236,523

427,368

Debt

Debts falling due within 1 year

-

(25,489

)

(25,489

)

Debts falling due after 1 year

-

(865,656

)

(865,656

)

-

(891,145

)

(891,145

)

Total

190,845

(654,622

)

(463,777

)

1.	STATUTORY INFORMATION

Sava Property 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

No depreciation is provided in respect of the investment property.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

1.10.22

Year Ended

to

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

103,351

45,377

Tax on profit

103,351

45,377

Tax effects relating to effects of other comprehensive income

31.3.25

Gross

Tax

Net

£

£

£

Increase in deferred tax provision

-

(200,473

)

(200,473

)

1.10.22 to 31.3.24

Gross

Tax

Net

£

£

£

Increase in deferred tax provision

-

(16,207

)

(16,207

)

4.

DIVIDENDS

Period

1.10.22

Year Ended

to

31.3.25

31.3.24

£

£

Final

-

300,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

22,856,257

NET BOOK VALUE

At 31 March 2025

22,856,257

At 31 March 2024

22,856,257

Fair value at 31 March 2025 is represented by:

£

Valuation in 2021

4,282,980

Cost

18,573,277

22,856,257

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

74,630

46,287

Amounts owed by group undertakings

488,176

-

Other debtors

60,431

60,431

Prepayments and accrued income

20,598

13,954

643,835

120,672

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 9)

25,489

-

Amounts owed to group undertakings

-

461,877

Tax

102,507

45,377

Other creditors

59,724

93,350

Accrued expenses

60,205

63,344

247,925

663,948

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 9)

865,656

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans

25,489

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

25,489

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

76,467

-

31.3.25

31.3.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

763,700

-

10.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

903,414

702,941

Deferred

tax

£

Balance at 1 April 2024

702,941

Provided during year

200,473

Balance at 31 March 2025

903,414

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2,000

Ordinary

o1

2,000

2,000

12.

RESERVES

Fair

Retained

Share

value

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2024

5,734,112

11,798,000

4,266,773

21,798,885

Profit for the year

310,053

310,053

Fair value movement

-

-

(200,473

)

(200,473

)

At 31 March 2025

6,044,165

11,798,000

4,066,300

21,908,465

13.	RELATED PARTY DISCLOSURES

14.	ULTIMATE CONTROLLING PARTY