Savva Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04635294 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

SAVVA SERVICES LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr A Savva

Mrs A Savva

Mr G Savva

Mrs N Chrysostomou

SECRETARY:

Mrs A Savva

REGISTERED OFFICE:

69 Uplands Way

Winchmore Hill

London

N21 1DU

REGISTERED NUMBER:

04635294 (England and Wales)

ACCOUNTANTS:

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Savva Services Limited for the year ended 31 January 2020 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Savva Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Savva Services Limited and state those matters that we have agreed to state to the Board of Directors of Savva Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Savva Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Savva Services Limited. You consider that Savva Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Savva Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

Date: .............................................

FIXED ASSETS

Investment property

4

1,013,081

1,013,081

CURRENT ASSETS

Debtors

5

3,900

-

Cash at bank

19,766

15,630

23,666

15,630

CREDITORS

Amounts falling due within one year

6

474,370

461,481

NET CURRENT LIABILITIES

(450,704

)

(445,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

562,377

567,230

PROVISIONS FOR LIABILITIES

7

21,457

21,457

NET ASSETS

540,920

545,773

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

286,714

286,714

Retained earnings

254,106

258,959

SHAREHOLDERS' FUNDS

540,920

545,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 July 2020 and were signed on its behalf by:

Mr A Savva - Director

1.	STATUTORY INFORMATION

Savva Services 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" 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 represents the net rents receivable, excluding value added tax. Turnover is recognised when rent

becomes due under the lease agreement.

Investment property

The company's investment properties are held for long term investment and are included in the balance sheet at

their fair values. No depreciation is provided in respect of Freehold and long leasehold investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be

provided on all fixed assets. The directors consider 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.

All Investment properties are revalued every year. The surplus(es) or deficit(s) on revaluation of such properties

are transferred to fair value reserve, apart from when the revaluation is below the original cost and in the opinion

of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account.

On the disposal of a revalued fixed asset, any related balances in the fair value reserve are transferred to the

profit and loss account as a movement in reserves.

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 2 (2019 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

and 31 January 2020

1,013,081

NET BOOK VALUE

At 31 January 2020

1,013,081

At 31 January 2019

1,013,081

Fair value at 31 January 2020 is represented by:

£

Valuation in 2005

32,074

Valuation in 2006

45,000

Valuation in 2007

13,098

Valuation in 2008

24,365

Valuation in 2016

172,177

Cost

726,367

1,013,081

If Investment property had not been revalued it would have been included at the following historical cost:

31.1.20

31.1.19

£

£

Cost

726,367

726,367

Investment property was valued on an open market basis on 31 January 2020 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

3,900

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Corporation tax

10,581

9,279

Social security and other taxes

31

-

Directors' current accounts

461,503

449,824

Accruals and deferred income

2,255

2,378

474,370

461,481

7.	PROVISIONS FOR LIABILITIES

31.1.20

31.1.19

£

£

Deferred tax

21,457

21,457

Deferred

tax

£

Balance at 1 February 2019

21,457

Balance at 31 January 2020

21,457

8.

RESERVES

Fair

value

reserve

£

At 1 February 2019

and 31 January 2020

286,714

9.	ULTIMATE CONTROLLING PARTY

There is no overall control of the company by any one person.