ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: 09428711

SIMDAN PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2025

SIMDAN PROPERTIES LIMITED

REGISTERED NUMBER: 09428711

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		31 March		28 February
		2025		2024
Note	£	£	£	£

Fixed assets
Investment property	4		770,759		-
			770,759		-
Current assets
Debtors: amounts falling due within one year	5	2,037		-
Cash at bank and in hand	6	8,548		2
		10,585		2
Creditors: amounts falling due within one year	7	(318,379)		-
Net current (liabilities)/assets			(307,794)		2
Total assets less current liabilities			462,965		2
Creditors: amounts falling due after more than one year	8		(485,726)		-

Net (liabilities)/assets			(22,761)		2

Capital and reserves
Called up share capital	10	2	2
Profit and loss account		(22,763)	-
		(22,761)	2

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SIMDAN PROPERTIES LIMITED

REGISTERED NUMBER: 09428711

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 December 2025.

D Plant

Director

The notes on pages 3 to 7 form part of these financial statements.

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SIMDAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

1.	General information

Simdan Properties Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Warehouse W, 3 Western Gateway, London, England, E16 1BD.

The company specialises in investment and rental of real estate.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements are prepared on a going concern basis, despite the Statement of financial position showing net current liabilities of £307,794 (28 February 2024 - net current assets of £2) including an amount of £289,000 (28 February 2024 - £Nil) due to the directors of the company. The directors have confirmed that they will continue to support the business for a period of not less than 12 months from the approval of these financial statements to enable the company to pay its liabilities as they fall due. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

2.3

Revenue

Turnover comprises rent receivable by the company and is recognised as it falls due, in accordance with the lease to which it relates.

2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the period in which they are incurred.

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SIMDAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Investment property

Investment properties are held to earn rentals or for capital appreciation, or both. Investment properties are initially measured at cost. At each Statement of financial position date, properties are measured at fair value with changes in fair value recognised in the Statement of comprehensive income.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the period was 2 (year ended 28 February 2024 - 2).

4.	Investment property

		Investment property
		£
	Valuation
	Additions at cost	770,759
	At 31 March 2025	770,759

The 2025 valuations were made by the directors, who are not property professionals, on an open market value basis.

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SIMDAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

Debtors

					31 March	28 February
					2025	2024
					£	£


Other debtors	596	-
Prepayments and accrued income	1,441	-
	2,037	-

Cash at bank and in hand	8,548	2
	8,548	2

Bank loans	19,891	-
Trade creditors	106	-
Other taxation and social security	1,113	-
Other creditors	295,569	-
Accruals and deferred income	1,700	-
	318,379	-

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SIMDAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

Bank loans	485,726	-
	485,726	-

The bank loan is secured by a debenture and cross-guarantee, including a charge on the leasehold property known as Warehouse W, 3 Western Gateway, London.

Amounts falling due within one year
Bank loans	19,891	-
Amounts falling due 1-2 years
Bank loans	19,891	-
Amounts falling due 2-5 years
Bank loans	465,835	-

	505,617	-

Allotted, called up and fully paid

2 Ordinary shares of £1 each	2	2

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SIMDAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

11.

Related party transactions

Included within other creditors is an amount of £289,000 (28 February 2024 - £Nil) due to the directors of the company.

Included within other creditors is an amount of £16 (28 February 2024 - £Nil) due to a company under common control.

Included within other creditors is an amount of £6,553 (28 February 2024 - £Nil) due to companies with common directors.

During the period the company received income of £18,735 (28 February 2024 - £Nil) from a company with common directors.

12.	Controlling party

The ultimate controlling parties are the directors by virtue of their majority shareholding.

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