Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true2022-11-01falseOS11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08266936 2022-11-01 2023-10-31 08266936 2021-11-01 2022-10-31 08266936 2023-10-31 08266936 2022-10-31 08266936 c:Director1 2022-11-01 2023-10-31 08266936 d:FreeholdInvestmentProperty 2023-10-31 08266936 d:FreeholdInvestmentProperty 2022-10-31 08266936 d:CurrentFinancialInstruments 2023-10-31 08266936 d:CurrentFinancialInstruments 2022-10-31 08266936 d:Non-currentFinancialInstruments 2023-10-31 08266936 d:Non-currentFinancialInstruments 2022-10-31 08266936 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 08266936 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 08266936 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 08266936 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 08266936 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 08266936 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 08266936 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 08266936 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 08266936 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 08266936 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 08266936 d:ShareCapital 2023-10-31 08266936 d:ShareCapital 2022-10-31 08266936 d:RetainedEarningsAccumulatedLosses 2023-10-31 08266936 d:RetainedEarningsAccumulatedLosses 2022-10-31 08266936 c:OrdinaryShareClass1 2022-11-01 2023-10-31 08266936 c:OrdinaryShareClass1 2023-10-31 08266936 c:FRS102 2022-11-01 2023-10-31 08266936 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08266936 c:FullAccounts 2022-11-01 2023-10-31 08266936 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08266936 2 2022-11-01 2023-10-31 08266936 e:PoundSterling 2022-11-01 2023-10-31 08266936 d:EntityControlledByKeyManagementPersonnel1 2022-11-01 2023-10-31 08266936 d:EntityControlledByKeyManagementPersonnel1 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08266936









SIENNA REAL ESTATE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
SIENNA REAL ESTATE LTD
REGISTERED NUMBER: 08266936

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
12,843,369
12,843,369

Current assets
  

Stocks
 5 
3,865,534
5,937,597

Debtors: amounts falling due within one year
 6 
320,338
62,265

Cash at bank and in hand
 7 
8,490
4,026

  
4,194,362
6,003,888

Creditors: amounts falling due within one year
 8 
(3,199,650)
(2,168,741)

Net current assets
  
 
 
994,712
 
 
3,835,147

Total assets less current liabilities
  
13,838,081
16,678,516

Creditors: amounts falling due after more than one year
 9 
(9,416,419)
(10,913,148)

  

Net assets
  
4,421,662
5,765,368


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
4,421,562
5,765,268

  
4,421,662
5,765,368


Page 1

 
SIENNA REAL ESTATE LTD
REGISTERED NUMBER: 08266936
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.




V Kakkar
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SIENNA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Sienna Real Estate Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is 11th Floor, The Mille, 1000 Great West Road, Brentford, TW8 9DW.
The company specialises in property developments and letting.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SIENNA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.8

Investment property

Investment properties are properties held to earn rent and capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

Page 4

 
SIENNA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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 equivalents 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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
12,843,369



At 31 October 2023
12,843,369

The 2023 valuations were made by the director, on an open market value for existing use basis.






Page 5

 
SIENNA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Stocks

2023
2022
£
£

Property stock
3,865,534
5,937,597

3,865,534
5,937,597



6.


Debtors

2023
2022
£
£


Trade debtors
62,067
15,165

Amounts owed by group undertakings
258,271
47,100

320,338
62,265



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
8,490
4,026

8,490
4,026



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
-

Trade creditors
921
25,412

Amounts owed to group undertakings
2,927,184
1,702,679

Corporation tax
94,711
118,057

Other taxation and social security
51,951
84,282

Other creditors
112,993
192,412

Accruals and deferred income
1,890
45,899

3,199,650
2,168,741


Bank loans are secured by a legal charge and mortgage over the assets of the company.

Page 6

 
SIENNA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
9,416,419
10,913,148

9,416,419
10,913,148


Bank loans are secured by a legal charge and mortgage over the assets of the company.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
-

Amounts falling due 1-2 years

Bank loans
10,000
-

Amounts falling due 2-5 years

Bank loans
13,333
-

Amounts falling due after more than 5 years

Bank loans
9,393,086
10,913,148

9,426,419
10,913,148


Page 7

 
SIENNA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



12.


Related party transactions

Included within other creditors is an amount due to the director of £112,993 (2022 - £192,412). The loan is interest-free and repayable on demand.
 
The company has taken advantage of the exemption allowed by Financial Reporting Standard 102, not to disclose any transactions between the company and its wholly owned subsidiaries.
 
Included within debtors due within one year is an amount of £47,100 (2022 - £47,100) due from companies under common control.


13.


Controlling party

The controlling party is the director by virtue of his 100% shareholding in the company.

 
Page 8