SIA Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06913400 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

SIA Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V M Joshi

Mrs P V Joshi

REGISTERED OFFICE:

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

BUSINESS ADDRESS:

66 Forest House Lane

Leicester Forest East

Leicester

Leicestershire

LE3 3NU

REGISTERED NUMBER:

06913400 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

1,237

1,992

Investment property

5

2,000,000

1,709,935

2,001,237

1,711,927

CURRENT ASSETS

Debtors

6

-

1,529

Cash at bank

28,896

9,126

28,896

10,655

CREDITORS

Amounts falling due within one year

7

(110,762

)

(128,354

)

NET CURRENT LIABILITIES

(81,866

)

(117,699

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,919,371

1,594,228

CREDITORS

Amounts falling due after more than one year

8

(848,992

)

(813,159

)

PROVISIONS FOR LIABILITIES

(149,731

)

(94,619

)

NET ASSETS

920,648

686,450

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

10

638,327

403,374

Retained earnings

281,321

282,076

920,648

686,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2021 and were signed on its behalf by:

V M Joshi - Director

1.	STATUTORY INFORMATION

SIA Properties 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 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

-

20% on cost

Government grants

Government Grants receivable in relation to expenditure is recognised when the expenditure is

charged to the profit and loss.

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 Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

14,355

DEPRECIATION

At 1 April 2020

12,363

Charge for year

755

At 31 March 2021

13,118

NET BOOK VALUE

At 31 March 2021

1,237

At 31 March 2020

1,992

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

1,709,935

Revaluations

290,065

At 31 March 2021

2,000,000

NET BOOK VALUE

At 31 March 2021

2,000,000

At 31 March 2020

1,709,935

The valuation of the investment property has been completed by the directors and is based on rental yield.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other debtors

-

1,529

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

7,167

10,509

Trade creditors

-

1

Taxation and social security

-

8,446

Other creditors

103,595

109,398

110,762

128,354

Other creditors includes accruals of £2,565 (2020: £2,565)

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

848,992

813,159

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

1,433

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

813,159

-

The bank loans are secured by a way of a fixed charge on the investment properties.

10.

RESERVES

Fair

value

reserve

£

At 1 April 2020

403,374

Revaluation

290,065

Deferred tax

(55,112

)

At 31 March 2021

638,327