SAHAR PROPERTY LIMITED

SAHAR PROPERTY LIMITED

SAHAR PROPERTY LIMITED - Company Information

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SAHAR PROPERTY LIMITED

Company Registration Number:
04971108 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2021

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

SAHAR PROPERTY LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2021

Balance sheet
Notes

SAHAR PROPERTY LIMITED

Balance sheet

As at 31 March 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 280,161 280,161
Total fixed assets: 280,161 280,161
Current assets
Creditors: amounts falling due within one year: 4 (3,381) (4,535)
Net current assets (liabilities): (3,381) (4,535)
Total assets less current liabilities: 276,780 275,626
Creditors: amounts falling due after more than one year: 5 (254,437) (252,792)
Total net assets (liabilities): 22,343 22,834
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 22,243 22,734
Shareholders funds: 22,343 22,834

The notes form part of these financial statements

SAHAR PROPERTY LIMITED

Balance sheet statements

For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 December 2021
and signed on behalf of the board by:

Name: Mrs Sahar Zaman
Status: Director

The notes form part of these financial statements

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and representsrental income received.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Other accounting policies

Investment propertyThe directors consider that the freehold property is an investment property under FRS102. Investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve. No depreciation is provided in respect of investment properties. This constitutes a departure from statutory rules requiring fixed assets to be depreciated over their useful economic lives and is necessary to enable the accounts to give a true and fair view. Depreciation is one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.Impairment of fixed assetsA review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.Financial instrumentsA financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

2. Employees

2021 2020
Average number of employees during the period 1 0

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

3. Tangible Assets

Total
Cost £
At 01 April 2020 280,161
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2021 280,161
Depreciation
At 01 April 2020 0
Charge for year 0
On disposals 0
Other adjustments 0
At 31 March 2021 0
Net book value
At 31 March 2021 280,161
At 31 March 2020 280,161

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

4. Creditors: amounts falling due within one year note

CREDITORS: amounts falling due after more than one year 2021 2020 £ £Bank loans and overdrafts 142,645 142,716Other creditors 111,792 110,076 ------------ ----------- 254,437 252,792 ======= =======

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

5. Creditors: amounts falling due after more than one year note

CREDITORS: amounts falling due after more than one year 2021 2020 £ £Bank loans and overdrafts 142,645 142,716Other creditors 111,792 110,076 ----------- ---------- 254,437 252,792 ======== ====== Included within creditors: amounts falling due after more than one year is an amount of £142,645 (2020: £142,716) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date. Included within creditors: amounts falling due after more than one year is the following balance which is secured by the way of a fixed and floating charge over the assets of the company. 2021 2020 £ £Bank loans 142,645 142,716

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

6. Related party transactions

Name of the related party:
Relationship:
Shareholder Loan Account
Description of the Transaction: RELATED PARTY TRANSACTIONSThe following related loan balances are included within other creditors due after one year: 2021 2020 £ £Shareholder loan accounts 111,792 110,076 =============The loans are interest free and repayable on demand.
£
Balance at 01 April 2020 110,076
Balance at 31 March 2021 111,792

SAHAR PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

7. Post balance sheet events

EVENTS AFTER THE END OF THE REPORTING PERIODSubsequent to the period end, economies and financial markets around the world experienced financial falls arising from uncertainties linked to the COVID-19 pandemic. There is currently no material impact on the company and this is a non adjusting event. The future impact of the pandemic on the company will be quantified as the situation evolves.