SULTAN ASSET LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G S Mathoon

REGISTERED OFFICE:

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

REGISTERED NUMBER:

11491432 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

FIXED ASSETS

Tangible assets

4

113

151

Investment property

5

1,564,000

1,542,000

1,564,113

1,542,151

CURRENT ASSETS

Debtors

6

596

583

Cash at bank

3,796

3,623

4,392

4,206

CREDITORS

Amounts falling due within one year

7

269,422

230,064

NET CURRENT LIABILITIES

(265,030

)

(225,858

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,299,083

1,316,293

CREDITORS

Amounts falling due after more than one year

8

(968,469

)

(971,320

)

PROVISIONS FOR LIABILITIES

10

(81,500

)

(85,100

)

NET ASSETS

249,114

259,873

CAPITAL AND RESERVES

Called up share capital

11

100

100

Fair value reserve

12

365,933

340,892

Retained earnings

(116,919

)

(81,119

)

SHAREHOLDERS' FUNDS

249,114

259,873

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 May 2026 and were signed by:

G S Mathoon - Director

1.	STATUTORY INFORMATION

Sultan Asset Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

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.

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 NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2024

and 31 August 2025

269

DEPRECIATION

At 1 September 2024

118

Charge for year

38

At 31 August 2025

156

NET BOOK VALUE

At 31 August 2025

113

At 31 August 2024

151

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

1,542,000

Additions

559

Revaluations

21,441

At 31 August 2025

1,564,000

NET BOOK VALUE

At 31 August 2025

1,564,000

At 31 August 2024

1,542,000

Fair value at 31 August 2025 is represented by:

£

Valuation in 2020

92,615

Valuation in 2021

187,270

Valuation in 2022

115,000

Valuation in 2023

39,000

Valuation in 2024

(7,893

)

Valuation in 2025

21,441

Cost

1,116,567

1,564,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

596

583

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

2,851

3,801

Trade creditors

-

5,525

Amounts owed to associates

259,702

211,950

Other creditors

6,869

8,788

269,422

230,064

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

968,469

971,320

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages - over 1 yr

968,469

968,469

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

968,469

968,469

Bank loans are secured on the company's investment properties.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

81,500

85,100

Deferred

tax

£

Balance at 1 September 2024

85,100

Provided during year

(3,600

)

Balance at 31 August 2025

81,500

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Fair

value

reserve

£

At 1 September 2024

340,892

Fair value transfer

25,041

At 31 August 2025

365,933