Sapphire Investments (UK) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02723447 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Sapphire Investments (UK) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P K Santilal

SECRETARY:

P K Santilal

REGISTERED OFFICE:

123 Eastern Avenue

Ilford

Essex

IG4 5AN

REGISTERED NUMBER:

02723447 (England and Wales)

ACCOUNTANTS:

R G Associates

123 Eastern Avenue

Ilford

Essex

IG4 5AN

FIXED ASSETS

Tangible assets

2

-

1,726,485

CURRENT ASSETS

Debtors

-

102,849

Cash at bank

851,233

44

851,233

102,893

CREDITORS

Amounts falling due within one year

3

843,658

163,051

NET CURRENT ASSETS/(LIABILITIES)

7,575

(60,158

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,575

1,666,327

CREDITORS

Amounts falling due after more than one
year

3

-

537,332

NET ASSETS

7,575

1,128,995

CAPITAL AND RESERVES

Called up share capital

4

85

Revaluation reserve

-

632,459

Profit and loss account

7,490

496,451

SHAREHOLDERS' FUNDS

7,575

1,128,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16 August 2016 and were signed by:

P K Santilal - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover shown in these accounts represents rents receivable during the period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Fixtures and fittings

-

15% on cost

Freehold investment properties are valued by directors each year at an open market basis, Any surplus or deficit

arising is transferred to revaluation reserve, unless a deficit is expected to be permanent, in which case it is

charged to profit and loss account.

In accordance with Statement of Standard Accounting Practice Number 19, no depreciation is provided in

respect of freehold investment properties. The directors consider that this accounting policy, which represents a

departure from statutory accounting rules, is necessary to provide a true and fair view. The financial effect of the

departure from these rules cannot reasonably be quantified as depreciation is only one of the main factors

reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately

identified or quantified.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

1,762,803

Disposals

(1,762,803

)

At 30 June 2016

-

DEPRECIATION

At 1 July 2015

36,318

Eliminated on disposal

(36,318

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

1,726,485

3.

CREDITORS

Creditors include an amount of £ 0 (30.6.15 - £ 517,775 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

85

Ordinary

£1

85

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Director's loan of £43,970 is owed to Mr P K Santilal at the year end.

During the year two properties were disposed by the company for a sum of £230,000 to Mr P K Santilal and

connected persons. The transactions were carried out at arms length.