REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SEVEN SISTERS INVESTMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SEVEN SISTERS INVESTMENTS LIMITED |
SEVEN SISTERS INVESTMENTS LIMITED (REGISTERED NUMBER: 03202888) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SEVEN SISTERS INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
30 - 34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
SEVEN SISTERS INVESTMENTS LIMITED (REGISTERED NUMBER: 03202888) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 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. |
SEVEN SISTERS INVESTMENTS LIMITED (REGISTERED NUMBER: 03202888) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SEVEN SISTERS INVESTMENTS LIMITED (REGISTERED NUMBER: 03202888) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Seven Sisters Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Investment properties |
Investment properties represent freehold properties stated at open market value. In the opinion of the directors there is no material difference between the valuation in the accounts and the current market value of these properties. |
In accordance with SSAP 19, the value of investment properties is considered annually by the directors and any surplus or deficit arising would be placed to a revaluation reserve or charged to the profit and loss if deficits on individual properties were expected to be permanent. |
The Companies Act 1985 requires that all properties be depreciated, but this requirement conflicts with the principles set out in SSAP 19 which requires that investment properties are not depreciated. |
Surpluses or deficits on properties are transferred to the investment revaluation reserve. It the total reserve is insufficient to cover the deficit, the amount by which the deficit exceeds the amount in that reserve is charged to the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
SEVEN SISTERS INVESTMENTS LIMITED (REGISTERED NUMBER: 03202888) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Revaluations | 70,000 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2010 | 3,227 |
Valuation in 2015 | 50,651 |
Valuation in 2016 | 40,000 |
Valuation in 2023 | 70,000 |
Cost | 306,122 |
470,000 |
If the freehold property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 306,122 | 306,122 |
Investment property was valued on an open market basis on 31 March 2023 by the director. . |
SEVEN SISTERS INVESTMENTS LIMITED (REGISTERED NUMBER: 03202888) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2022 |
Revaluation in year | 70,000 |
At 31 March 2023 |
10. | RELATED PARTY DISCLOSURES |
At the year end, the company owed Havelock Estates Limited £12,762 (2022: £12,762) Both companies are under common control. |