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REGISTERED NUMBER: 11772165 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

AB SISTER PROPERTIES LTD

AB SISTER PROPERTIES LTD (REGISTERED NUMBER: 11772165)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


AB SISTER PROPERTIES LTD (REGISTERED NUMBER: 11772165)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,437 5,220
Investment property 5 1,018,374 798,989
1,022,811 804,209

CURRENT ASSETS
Debtors 6 2,060 2,019
Cash at bank 57,636 63,525
59,696 65,544
CREDITORS
Amounts falling due within one year 7 875,776 702,092
NET CURRENT LIABILITIES (816,080 ) (636,548 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,731

167,661

CREDITORS
Amounts falling due after more than one
year

8

56,248

56,248
NET ASSETS 150,483 111,413

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 150,383 111,313
150,483 111,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

AB SISTER PROPERTIES LTD (REGISTERED NUMBER: 11772165)

BALANCE SHEET - continued
31 JANUARY 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2024 and were signed on its behalf by:





Mrs B F Berry - Director


AB SISTER PROPERTIES LTD (REGISTERED NUMBER: 11772165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

AB Sister Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11772165

Registered office: Unit 1
Victoria Road
Leeds
West Yorkshire
LS14 2LA

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Rents receivable in respect of investment properties are accounted for on a straight line basis over the rental period and included in turnover, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


AB SISTER PROPERTIES LTD (REGISTERED NUMBER: 11772165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 10,000
DEPRECIATION
At 1 February 2023 4,780
Charge for year 783
At 31 January 2024 5,563
NET BOOK VALUE
At 31 January 2024 4,437
At 31 January 2023 5,220

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 798,989
Additions 219,385
At 31 January 2024 1,018,374
NET BOOK VALUE
At 31 January 2024 1,018,374
At 31 January 2023 798,989

AB SISTER PROPERTIES LTD (REGISTERED NUMBER: 11772165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. INVESTMENT PROPERTY - continued

The directors consider the investment property values to be on an open market basis as at 31 January 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Prepayments and accrued income 2,060 2,019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Social security and other taxes 9,956 9,485
Directors' current accounts 860,061 688,300
Accruals and deferred income 5,759 4,307
875,776 702,092

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans more 5 yr by instal 56,248 56,248

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 56,248 56,248

The bank loan is secured on an asset mortgaged to the bank.