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SBI PROPERTIES LIMITED - Company Information

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SBI Properties Ltd

Registered Number:05056620

For the year ended 30 September 2016

England and Wales

Unaudited Financial Statements

For the year ended 30 September 2016

SBI Properties Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 30 September 2016

SBI Properties Ltd

Statement of Financial Position

Registered Number :

05056620

2015

2016

Notes

Fixed assets

Property, plant and equipment

2,672,835

1,932,319

2,672,835

1,932,319

Current assets

Trade and other receivables

172,821

81,542

Cash and cash equivalents

58,077

139,619

172,821

Trade and other payables: amounts falling due within one

year

(77,136)

(81,660)

95,685

57,959

Net current assets

Total assets less current liabilities

2,730,794

2,028,004

Trade and other payables: amounts falling due after more

than one year

(1,415,392)

(1,415,364)

(254,959)

Provisions for liabilities

1,060,471

Net assets

612,612

Capital and reserves

Called up share capital

Revaluation reserve

1,019,534

535,140

Retained earnings

40,935

77,470

1,060,471

612,612

Shareholders' funds

For the year ended 30 September 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Mrs I K Makkar Director

These financial statements were approved and authorised for issue by the Board on 23 May 2017 and were signed by:

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For the year ended 30 September 2016

SBI Properties Ltd

Statement of Financial Position Continued

The notes form part of these financial statements

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For the year ended 30 September 2016

SBI Properties Ltd

Notes to the Financial Statements

Statutory Information

SBI Properties Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration

number 05056620.

Registered address:

99 Dorchester Waye

Hayes

Middlesex

UB4 0HY

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover represents rents receivable.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

20% Reducing balance

Computer equipment

20% Reducing balance

Fixtures and fittings

The company''s freehold properties are revalued in full every five years. Interim valuations are carried out when it is

likely that there has been a material change in value.

Investment property

Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

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For the year ended 30 September 2016

SBI Properties Ltd

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Land and

buildings

Cost or

valuation

At 01 October 2015

1,939,119

1,029

12,444

1,925,646

3,120

Additions

739,354

Revaluations

At 30 September 2016

2,665,000

15,564

1,029

2,681,593

Provision for depreciation and impairment

At 01 October 2015

6,800

868

5,932

Charge for year

1,958

1,926

At 30 September 2016

8,758

900

7,858

At 30 September 2016

Net book value

2,665,000

7,706

129

2,672,835

At 30 September 2015

1,925,646

6,512

161

1,932,319

Cost or valuation at 30 September 2016 is represented by:

Cost £1,390,507

Revaluation in 2007 £ 89,018

Revaluation in 2012 £ 41,135

Revaluation in 2013 £ 118,996

Revaluation in 2014 £ 285,991

Revaluation in 2017 £ 739,353

-----------------

£2,665,000

=========

If freehold land and buildings had not been re-valued they would have been included at the following historical cost:

30 September 2016 30 September 2015

-------------------------- -------------------------

Cost £1,390,507 £1,390,507

3. Trade and other receivables

2015

2016

Amounts owed by group undertakings and participating interests

65,000

160,800

Other debtors

16,542

12,021

172,821

81,542

The debtors above include the following amounts falling due after more than one year:

Amounts owed by group undertakings and participating interests

65,000

160,800

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For the year ended 30 September 2016

SBI Properties Ltd

Notes to the Financial Statements Continued

4. Trade and other payables: amounts falling due within one year

2015

2016

Bank loans and overdraft

54,144

54,606

Taxation and social security

14,961

8,007

Other creditors

12,555

14,523

81,660

77,136

5. Trade and other payables: amounts falling due after more than one year

2015

2016

Bank loans and overdraft (secured)

1,407,864

1,407,892

Other creditors

7,500

1,415,364

1,415,392

6. Reserves

Total

Revaluation reserve at 01 October 2015

535,140

Revaluation of fixed assets

739,354

Deferred tax provided on revaluation

(254,960)

1,019,534

Revaluation reserve at 30 September 2016

7. Related party transactions

The Company is a wholly owned subsidiary of SBI Investments limited, a company incorporated in England and

Wales. Mr Rajinder Singh Makkar & Mrs Inderpaul Kaur Makkar are the ultimate controlling parties of the company.

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