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REGISTERED NUMBER:
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Audited Financial Statements |
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for the Year Ended 31 August 2016 |
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for |
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Sava Estates Limited |
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REGISTERED NUMBER:
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Audited Financial Statements |
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for the Year Ended 31 August 2016 |
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for |
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Sava Estates Limited |
Sava Estates Limited (Registered number: SC383078) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2016 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Sava Estates Limited |
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Company Information |
for the Year Ended 31 August 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
308 Albert Drive |
Pollokshields |
GLASGOW |
G41 5RS |
Sava Estates Limited (Registered number: SC383078) |
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Abridged Balance Sheet |
31 August 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Sava Estates Limited (Registered number: SC383078) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2016 |
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1. | STATUTORY INFORMATION |
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Sava Estates Limited is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the sale of properties held for resale. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investment property |
Investment property is stated at fair value. Changes in fair value are recognised in the Statement of |
Comprehensive Income. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date, where transactions or events that result in an obligation to pay more or a right to pay less tax in the |
future have occurred by the balance sheet date with certain limited exceptions. |
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Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in |
which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Debtors |
Short-term debtors are measured at transaction price, less any impairment. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
of not more than 24 hours. Cash equivalent are highly liquid investments that mature in no more than three |
months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant |
risk of change in value. |
Sava Estates Limited (Registered number: SC383078) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2016 |
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3. | ACCOUNTING POLICIES - continued |
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Creditors |
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using |
the effective interest method. |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2015 |
and 31 August 2016 |
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DEPRECIATION |
At 1 September 2015 |
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Charge for year |
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At 31 August 2016 |
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NET BOOK VALUE |
At 31 August 2016 |
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At 31 August 2015 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 September 2015 |
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Disposals | ( |
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At 31 August 2016 |
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NET BOOK VALUE |
At 31 August 2016 |
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At 31 August 2015 |
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Cost or valuation at 31 August 2016 is represented by: |
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£ |
Valuation in 2016 | 567,942 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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2016 | 2015 |
£ | £ |
Cost | 567,942 | 722,098 |
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Investment property was valued on an fair value basis on 31 August 2016 by the company director's . |
Sava Estates Limited (Registered number: SC383078) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2016 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mrs H B Lal. |