Sadie Lou Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09278068 (England and Wales)

Financial Statements

for the Year Ended 31 March 2021

for

SADIE LOU LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Leviton

Mr B S Leviton

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

09278068 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

1,238

-

Investments

5

8,502

2

Investment property

6

1,450,856

1,228,166

1,460,596

1,228,168

CURRENT ASSETS

Debtors

7

187,032

268,697

Cash at bank

113,871

21,082

300,903

289,779

CREDITORS

Amounts falling due within one year

8

6,652

122,172

NET CURRENT ASSETS

294,251

167,607

TOTAL ASSETS LESS CURRENT LIABILITIES

1,754,847

1,395,775

CREDITORS

Amounts falling due after more than one year

9

(908,957

)

(867,686

)

PROVISIONS FOR LIABILITIES

(34,001

)

(34,001

)

NET ASSETS

811,889

494,088

CAPITAL AND RESERVES

Called up share capital

10

398

398

Non distributable reserves

198,425

198,425

Retained earnings

613,066

295,265

SHAREHOLDERS' FUNDS

811,889

494,088

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 December 2021 and were signed on its behalf by:

Mr B S Leviton - Director

1.	STATUTORY INFORMATION

Sadie Lou Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 rent receivable. Rental income is recognised evenly over the lease term.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in associates

Investments in associate undertakings are recognised at cost.

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 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 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,456

At 31 March 2021

1,456

DEPRECIATION

Charge for year

218

At 31 March 2021

218

NET BOOK VALUE

At 31 March 2021

1,238

5.	FIXED ASSET INVESTMENTS

31.3.21

31.3.20

£

£

Participating interests

2

2

Other investments not loans

8,500

-

8,502

2

Additional information is as follows:

Interest

in

associate

£

COST

At 1 April 2020

and 31 March 2021

2

NET BOOK VALUE

At 31 March 2021

2

At 31 March 2020

2

Investments (neither listed nor unlisted) were as follows:

31.3.21

31.3.20

£

£

Other investment

8,500

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

1,228,166

Additions

222,690

At 31 March 2021

1,450,856

NET BOOK VALUE

At 31 March 2021

1,450,856

At 31 March 2020

1,228,166

Fair value at 31 March 2021 is represented by:

£

Valuation in 2017

174,902

Valuation in 2019

57,524

Cost

1,218,430

1,450,856

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts owed by group undertakings

105,565

140,392

Other debtors

64,505

128,305

Prepayments

16,962

-

187,032

268,697

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts owed to group undertakings

-

92,287

Other creditors

1,852

103

Directors' current accounts

-

25,702

Accruals and deferred income

4,800

4,080

6,652

122,172

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 2-5 years

48,000

-

Bank loans more 5 yr by instal

860,957

867,686

908,957

867,686

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

860,957

867,686

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

1

A Class Ordinary

£1

1

1

1

B Class Ordinary

£1

1

1

99

C Class Ordinary

£1

99

99

99

D Class Ordinary

£1

99

99

99

E Class Ordinary

£1

99

99

99

F Class Ordinary

£1

99

99

398

398

11.	RELATED PARTY DISCLOSURES

As at the balance sheet date, included in debtors due within one year is £Nil (2020: £25,702), due to the directors. The amount is interest free and repayable on demand.

As at the balance sheet date, included in debtors due within one year is £71,387 (2020: £140,392) due from Milton Connect Limited, and £34,178 (2020: £73,104 credit) due from Rent Connect Housing Limited, companies in which there is common directorship.

As at the balance sheet date, included in creditors due within one year is £Nil (2020: £19,183) due to Quadelle Limited, a company in which there is common directorship.