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COMPANY REGISTRATION NUMBER: 02169430

SATCO INVESTMENTS LIMITED

Filleted Unaudited Financial Statements

31 March 2026

SATCO INVESTMENTS LIMITED

Statement of Financial Position

31 March 2026

| 2026 | 2025
Note | £ | £ | £

Fixed assets

Tangible assets | 4 |  | 8,975,000 | 8,970,000
Investments | 5 |  | 246,162 | 236,412
|  | ------------ | ------------
|  | 9,221,162 | 9,206,412

Current assets

Debtors | 6 | 13,367,828 |  | 11,468,028
Cash at bank and in hand | 329,577 |  | 1,989,977
| ------------- |  | -------------
| 13,697,405 |  | 13,458,005

Creditors: amounts falling due within one year | 7 | 7,423,915 |  | 7,390,860
| ------------- |  | -------------
Net current assets |  | 6,273,490 | 6,067,145
|  | ------------- | -------------
Total assets less current liabilities |  | 15,494,652 | 15,273,557

Provisions

Taxation including deferred tax |  | 1,086,698 | 1,085,448
|  | ------------- | -------------
Net assets |  | 14,407,954 | 14,188,109
|  | ------------- | -------------

SATCO INVESTMENTS LIMITED

Statement of Financial Position (continued)

31 March 2026

| 2026 | 2025
Note | £ | £ | £

Capital and reserves

Called up share capital |  | 100 | 100
Profit and loss account | 9 |  | 14,407,854 | 14,188,009
|  | ------------- | -------------
Shareholders funds |  | 14,407,954 | 14,188,109
|  | ------------- | -------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 July 2026 , and are signed on behalf of the board by:

Mr M. G. Gudka
Director

Company registration number: 02169430

SATCO INVESTMENTS LIMITED

Notes to the Financial Statements

Year ended 31st March 2026
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, 88 Baker Street, London, W1U 6TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents rent receivable from letting of investment properties and fees and commission earned from providing services relating to investment property matters. The income is recognised when the contractual obligations are fulfilled by the company in relation to services provided and when the rent falls due under the terms of the leases.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non- discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on the tax rate and laws that have been enacted by the balance sheet date.
Investment properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment
4. Tangible assets

| Investment properties
| £
Cost or valuation |
At 1st April 2025 | 8,970,000
Revaluations | 5,000
| ------------
At 31st March 2026 | 8,975,000
| ------------
Depreciation |
At 1st April 2025 and 31st March 2026 | –
| ------------
Carrying amount |
At 31st March 2026 | 8,975,000
| ------------
At 31st March 2025 | 8,970,000
| ------------

Tangible assets held at valuation
The investment properties were valued by the directors as at 31 March 2026 and is stated at the market value as at that date. The historical cost of the properties was £3,104,097.
5. Investments

| Shares in participating interests | Loans to participating interests | Total
| £ | £ | £
Cost |  |  |
At 1st April 2025 | 66 | 609,180 | 609,246
Additions/Advanced | – | 25,000 | 25,000
Disposals/Repayments | – | ( 15,250) | (15,250)
| ---- | --------- | ---------
At 31st March 2026 | 66 | 618,930 | 618,996
| ---- | --------- | ---------
Impairment |  |  |
At 1st April 2025 and 31st March 2026 | – | 372,834 | 372,834
| ---- | --------- | ---------

Carrying amount |  |  |
At 31st March 2026 | 66 | 246,096 | 246,162
| ---- | --------- | ---------
At 31st March 2025 | 66 | 236,346 | 236,412
| ---- | --------- | ---------

6. Debtors

| 2026 | 2025
| £ | £
Trade debtors | 135,254 | 125,574
Amounts owed by group companies | 13,197,242 | 11,297,242
Other debtors | 35,332 | 45,212
| ------------- | -------------
| 13,367,828 | 11,468,028
| ------------- | -------------

7. Creditors: amounts falling due within one year

| 2026 | 2025
| £ | £
Bank loans and overdrafts | 3,900,000 | 3,900,000
Trade creditors | 3,247 | 3,013
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 3,395,863 | 3,395,863
Corporation tax | 23,064 | –
Other creditors | 101,741 | 91,984
| ------------ | ------------
| 7,423,915 | 7,390,860
| ------------ | ------------

The bank loan of £3,900,000 (2025 £3,900,000) is secured on the investment properties owned by the company.
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2026 | 2025
| £ | £
Included in provisions | 1,086,698 | 1,085,448
| ------------ | ------------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2026 | 2025
| £ | £
Revaluation of tangible assets | 1,086,698 | 1,085,448
| ------------ | ------------

9. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Included in profit and loss reserve are £9,623,649 (2025 £9,407,554) distributable profits and £4,784,205 (2025: £4,780,455) non-distributable profits in respect of revaluation gains arising on investment properties.
10. Related party transactions
During the year the company entered into the following transactions with related parties:

| Transaction value | Balance owed by/(owed to)
| 2026 | 2025 | 2026 | 2025
| £ | £ | £ | £
Satco Investment Holdings Limited | 1,900,000 | – | 13,197,242 | 11,297,242
Satco 2 Ltd | – | (1,456,458) | ( 3,395,863) | ( 3,395,863)
| ------------ | ------------ | ------------- | -------------

11. Controlling party
The company is a wholly owned subsidiary of Satco Investments Holding Limited, a company registered in England.