1.
General Information
Santok Homes (1) Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
09777866
. The registered office is 505 Pinner Road, Harrow, Middlesex, HA2 6EH.
2.
Accounting Policies
2.1.
Basis of Preparation of 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 requirements of the Companies Act 2006.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The financial statements are presented in sterling, which is the company’s functional currency.
2.2.
Going Concern Disclosure
The directors have considered the company’s financial position, anticipated future trading activities and available funding arrangements. Having made appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.
2.3.
Turnover
Turnover represents amounts receivable from the sale of properties and rental income arising from investment properties, excluding value added tax and after deducting discounts and allowances.
Revenue from the sale of properties is recognised when control of the property has transferred to the purchaser, which will normally be on legal completion, provided that the amount of revenue and the associated costs can be measured reliably.
Rental income from investment properties is recognised on a straight-line basis over the term of the relevant lease, unless another systematic basis is more representative of the pattern in which the benefit from the leased property is received. Any lease incentives granted are recognised as an integral part of total rental income over the lease term.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
2.5.
Investment Properties
Investment properties are properties held to earn rental income, for capital appreciation, or both, rather than for sale in the ordinary course of business or for use in the company’s own operations.
Investment properties are initially measured at cost, including directly attributable expenditure. They are subsequently measured at fair value at each reporting date where fair value can be measured reliably without undue cost or effort. Changes in fair value are recognised in the profit and loss account in the period in which they arise.
Investment properties are not depreciated. Expenditure incurred after initial recognition is capitalised only where it is probable that future economic benefits will flow to the company and the cost can be measured reliably. Repairs and maintenance expenditure is charged to the profit and loss account as incurred.
Santok Homes (1) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.6.
Taxation
Taxation expense represents the total of current tax and deferred tax.
Current and deferred tax are recognised in the profit and loss account, except where they relate to items recognised in other comprehensive income or directly in equity, in which case they are also recognised in other comprehensive income or directly in equity respectively.
Current tax is measured at the amount expected to be paid or recovered using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the reporting date.
Timing differences arise where income and expenses are recognised in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply when the timing differences reverse.
Deferred tax liabilities are recognised in respect of fair value gains on investment properties, taking account of the expected manner of recovery of the carrying amount of the relevant property.
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 against future taxable profits.
Deferred tax assets and liabilities are not discounted.
2.7.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or development of a qualifying property are capitalised as part of the cost of that property during the period required to complete and prepare it for its intended sale or use.
Capitalisation ceases when substantially all the activities necessary to prepare the property for its intended sale or use have been completed. All other borrowing costs are recognised in the profit and loss account as incurred.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
4.
Tangible Assets
| Fixtures & Fittings | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Depreciation | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Net Book Value | |
| As at 31 December 2025 |
|
| As at 1 January 2025 |
|
Santok Homes (1) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
5.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 January 2025 and 31 December 2025 |
|
In the opinion of the directors, having considered the condition, location and prevailing market conditions relating to the properties, the fair value of the investment properties at 31 December 2025 was not materially different from the amounts stated in the balance sheet.
6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
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|
| Amounts owed by connected companies |
|
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7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
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|
| Other loans |
|
|
|
| Other creditors |
|
|
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| Amounts owed to connected companies |
|
|
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| Accruals and deferred income |
|
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| Amounts owed to group undertakings |
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8.
Secured Creditors
Other loans are secured by a way of legal charge and debenture over the assets of the company and it is fully
repayable within 12 months with interest at 5% above the base rate.
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Other loans
|
2,015,000
|
2,015,000
|
|
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Santok Homes (1) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
10.
Reserves
| Profit and Loss Account | |
|---|---|
| £ | |
| As at 1 January 2025 |
( |
| Loss for the year and total comprehensive income |
( |
| As at 31 December 2025 |
( |
11.
Related Party Transactions
At the period end, amounts due from connected companies in which a director has a beneficial interest totalled £35,000 (2024: £35,000), while amounts due to such connected companies totalled £440,200 (2024: £562,000). These balances were unsecured, interest-free and repayable on demand.
At the period end, amounts due to group companies totalled £840,141 (2024: £460,141). These balances were unsecured, interest-free and repayable on demand.