Sangha Properties (Scotland) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC362144 (Scotland)

Unaudited Financial Statements for the Year Ended 31 August 2017

for

Sangha Properties (Scotland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C S Sangha

REGISTERED OFFICE:

17 Rannoch Avenue

Newton Mearns

Glasgow

G77 6LN

REGISTERED NUMBER:

SC362144 (Scotland)

ACCOUNTANTS:

Malhi & Company

36 Nithsdale Road

Glasgow

G41 2AN

FIXED ASSETS

Tangible assets

3

192,133

192,133

CURRENT ASSETS

Cash at bank

19,495

16,561

CREDITORS

Amounts falling due within one year

4

88,450

88,219

NET CURRENT LIABILITIES

(68,955

)

(71,658

)

TOTAL ASSETS LESS CURRENT LIABILITIES

123,178

120,475

CREDITORS

Amounts falling due after more than one year

5

68,544

77,308

NET ASSETS

54,634

43,167

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

54,633

43,166

SHAREHOLDERS' FUNDS

54,634

43,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 29 March 2018 and were signed by:

C S Sangha - Director

1.	STATUTORY INFORMATION

Sangha Properties (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" 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 cost convention.

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.

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.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 September 2016

and 31 August 2017

192,133

NET BOOK VALUE

At 31 August 2017

192,133

At 31 August 2016

192,133

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Directors loan

84,308

80,084

Tax

2,792

2,561

VAT

750

750

Accrued expenses

600

4,824

88,450

88,219

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.17

31.8.16

£

£

Bank loans more 5 yr by instal

68,544

77,308

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

68,544

77,308