Sanman Investments Limited - Accounts to registrar (filleted) - small 23.1.2
Sanman Investments Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| FOR |
| SANMAN INVESTMENTS LIMITED |
| SANMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 06110608) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SANMAN INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 29 Arboretum Street |
| Nottingham |
| Nottinghamshire |
| NG1 4JA |
| SANMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 06110608) |
| BALANCE SHEET |
| 31 JANUARY 2023 |
| 31.1.23 | 31.1.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| SANMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 06110608) |
| BALANCE SHEET - continued |
| 31 JANUARY 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SANMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 06110608) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 1. | STATUTORY INFORMATION |
| Sanman Investments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable, excluding VAT. |
| Investment property |
| Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
| The methods and significant assumptions used to ascertain the fair value for the year are as follows: |
| - rental yield obtainable using market data and similar properties sold or on the market in the area. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. |
| Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SANMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 06110608) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2022 |
| Disposals | ( |
) |
| Revaluations | 130,000 |
| At 31 January 2023 |
| NET BOOK VALUE |
| At 31 January 2023 |
| At 31 January 2022 |
| Freehold Investment Properties are valued by the directors at the balance sheet date at their open market value. The valuation was based on the present value of each property subject to the particular tenancy which was in force at that date. |
| The historical cost of the properties was £1,815,025 as at 31 January 2023 (2022 - £2,314,698). |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.23 | 31.1.22 |
| £ | £ |
| Trade debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.23 | 31.1.22 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.23 | 31.1.22 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| SANMAN INVESTMENTS LIMITED (REGISTERED NUMBER: 06110608) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.1.23 | 31.1.22 |
| £ | £ |
| Bank loans |
| The bank mortgages are secured against the properties with a fixed and floating charge over all present and future assets. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.23 | 31.1.22 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | RELATED PARTY DISCLOSURES |
| Included in other creditors are loans from the Mahal family and their associated trusts which at 31 January 2023 amounted to £1,298,000 (2022 - £1,298,000). No interest has been charged on these loans during the year (2022 - £nil). |