| Sat Bir Asset Holdings Limited |
| Registered number: |
09649437 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Current assets |
| Debtors |
2 |
|
27,500 |
|
|
27,500 |
| Property development work in progress |
9,375,224 |
|
|
9,068,064 |
| Cash at bank and in hand |
1,029 |
|
|
4,246 |
|
|
|
9,403,753 |
|
|
9,099,810 |
|
| Creditors: amounts falling due within one year |
3 |
|
(558,456) |
|
|
(435,390) |
|
| Net current assets |
|
|
|
8,845,297 |
|
|
8,664,420 |
|
| Total assets less current liabilities |
|
|
|
8,845,297 |
|
|
8,664,420 |
|
| Creditors: amounts falling due after more than one year |
4 |
|
|
(8,896,777) |
|
|
(8,712,455) |
|
|
|
| Net liabilities |
|
|
|
(51,480) |
|
|
(48,035) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(51,580) |
|
|
(48,135) |
|
| Shareholder's funds |
|
|
|
(51,480) |
|
|
(48,035) |
| Average number of employees |
|
|
|
0 |
|
|
0 |
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Satbir Singh Ahluwalia |
| Director |
| Approved by the board on 3 December 2022 |
|
| Sat Bir Asset Holdings Limited |
| Notes to the Accounts |
| for the year ended 31 March 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold property |
over 50 years straight line |
|
Equipment, fixtures and fittings |
20% reducing balance basis |
|
|
Property development work In progress |
|
Property development work In progress is valued at the lower of cost and net realisable value. Cost includes all direct costs incurred during the financial year. |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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 to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Other debtors and prepayments |
25,000 |
|
25,000 |
|
Related party balances |
2,500 |
|
2,500 |
|
|
|
|
|
|
27,500 |
|
27,500 |
|
|
|
|
|
|
|
|
|
|
| 2 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Related party balances |
555,246 |
|
432,930 |
|
Other creditors and accruals |
3,210 |
|
2,460 |
|
|
|
|
|
|
558,456 |
|
435,390 |
|
|
|
|
|
|
|
|
|
| 3 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Director's loan |
8,852,610 |
|
8,662,455 |
|
Bounce back loan |
|
|
|
|
44,167 |
|
50,000 |
|
|
|
|
|
|
8,896,777 |
|
8,712,455 |
|
|
|
|
|
|
|
|
|
| 4 |
Related party transactions |
2022 |
|
2021 |
| £ |
£ |
|
|
Protégé Corporation Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Protégé Corporation Limited. |
|
An interest free and unsecured loan to Protégé Corporation Limited yet to be reimbursed to the company. |
|
Amount due to the related party |
150,900 |
|
150,000 |
|
|
|
|
|
|
|
|
|
|
Life Care Corporation Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Life Care Corporation Limited. |
|
An interest free and unsecured loan by Life Care Corporation Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
59,248 |
|
62,356 |
|
|
|
|
|
|
|
|
|
|
Chippenham Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Chippenham Limited. |
|
An interest free and unsecured loan by Chippenham Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
510 |
|
510 |
|
|
|
|
|
|
|
|
|
|
Mulberry Care Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Mulberry Care Limited. |
|
An interest free and unsecured loan by Mulberry Care Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
114,817 |
|
114,817 |
|
|
|
|
|
|
|
|
|
|
Sudaj Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Sudaj Limited. |
|
An interest free and unsecured loan by Sudaj Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
85,979 |
|
85,979 |
|
|
|
|
|
|
|
|
|
|
Mulberry Care Group Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Mulberry Care Group Limited. |
|
An interest free and unsecured loan by Mulberry Care Group Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
29,798 |
|
29,798 |
|
|
|
|
|
|
|
|
|
|
Vogue Assets Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Vogue Assets Limited. |
|
An interest free and unsecured loan by Vogue Assets Limited yet to be reimbursed to the company. |
|
Amount due from the related party |
113,994 |
|
31,768 |
|
|
|
|
|
|
|
|
|
|
Willow Cottage care Home Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Willow Cottage Care Home Limited. |
|
An interest free and unsecured loan to Willow Cottage Care Home Limited yet to be reimbursed to the company. |
|
Amount due from the related party |
2,500 |
|
2,500 |
|
|
|
|
|
|
|
|
|
| 5 |
Controlling party |
|
|
The director controls the company. |
|
|
|
| 6 |
Other information |
|
|
Sat Bir Asset Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
17 Leeland Mansions |
|
Leeland Road |
|
West Ealing |
|
London |
|
W13 9HE |
