0 30/04/2024 2024-04-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP SC545739 2023-05-01 2024-04-30 SC545739 2024-04-30 SC545739 2023-04-30 SC545739 2023-04-30 SC545739 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC545739 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC545739 bus:Director1 2023-05-01 2024-04-30 SC545739 core:FurnitureFittingsToolsEquipment 2023-04-30 SC545739 core:FurnitureFittingsToolsEquipment 2024-04-30 SC545739 core:WithinOneYear 2024-04-30 SC545739 core:WithinOneYear 2023-04-30 SC545739 core:AfterOneYear 2024-04-30 SC545739 core:AfterOneYear 2023-04-30 SC545739 core:ShareCapital 2024-04-30 SC545739 core:ShareCapital 2023-04-30 SC545739 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC545739 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC545739 bus:OrdinaryShareClass1 core:ShareCapital 2024-04-30 SC545739 bus:OrdinaryShareClass1 core:ShareCapital 2023-04-30 SC545739 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 SC545739 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-04-30 SC545739 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 SC545739 core:Non-currentFinancialInstruments 2024-04-30 SC545739 core:Non-currentFinancialInstruments 2023-04-30 SC545739 core:FurnitureFittingsToolsEquipment 2023-04-30 SC545739 bus:SmallEntities 2023-05-01 2024-04-30 SC545739 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC545739 bus:FullAccounts 2023-05-01 2024-04-30 SC545739 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC545739 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC545739 core:EntityControlledByKeyManagementPersonnel1 2023-05-01 2024-04-30 SC545739 core:EntityControlledByKeyManagementPersonnel2 2023-05-01 2024-04-30 SC545739 core:EntityControlledByKeyManagementPersonnel1 2024-04-30 SC545739 core:EntityControlledByKeyManagementPersonnel1 2023-04-30 SC545739 core:EntityControlledByKeyManagementPersonnel2 2024-04-30 SC545739 core:EntityControlledByKeyManagementPersonnel2 2023-04-30
Company registration number: SC545739
THREE SISTERS (EDINBURGH) LTD
Unaudited filleted financial statements
30 April 2024
THREE SISTERS (EDINBURGH) LTD
Statement of financial position
30 April 2024
30/04/24 30/04/23
Note £ £ £ £
Fixed assets
Tangible assets 5 - 2,153
Investments 6 4,880,247 4,863,197
_______ _______
4,880,247 4,865,350
Current assets
Debtors 7 36,795 65,738
Cash at bank and in hand 482,023 126,272
_______ _______
518,818 192,010
Creditors: amounts falling due
within one year 8 ( 4,421,400) ( 4,289,732)
_______ _______
Net current liabilities ( 3,902,582) ( 4,097,722)
_______ _______
Total assets less current liabilities 977,665 767,628
Creditors: amounts falling due
after more than one year 9 ( 349,413) ( 417,202)
_______ _______
Net assets 628,252 350,426
_______ _______
Capital and reserves
Called up share capital 10 5 5
Profit and loss account 628,247 350,421
_______ _______
Shareholders funds 628,252 350,426
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
S. Pahuja
Director
Company registration number: SC545739
THREE SISTERS (EDINBURGH) LTD
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland ( SC545739 ). The address of the registered office is 29 York Place, Edinburgh, EH1 3HP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income, stated net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash at bank and in hand includes cash and short term highly liquid investments.Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2023 and 30 April 2024 8,615 8,615
_______ _______
Depreciation
At 1 May 2023 6,462 6,462
Charge for the year 2,153 2,153
_______ _______
At 30 April 2024 8,615 8,615
_______ _______
Carrying amount
At 30 April 2024 - -
_______ _______
At 30 April 2023 2,153 2,153
_______ _______
6. Investments
Investment properties Total
£ £
Cost
At 1 May 2023 4,863,197 4,863,197
Additions 17,050 17,050
_______ _______
At 30 April 2024 4,880,247 4,880,247
_______ _______
Impairment
At 1 May 2023 and 30 April 2024 - -
_______ _______
Carrying amount
At 30 April 2024 4,880,247 4,880,247
_______ _______
At 30 April 2023 4,863,197 4,863,197
_______ _______
In the opinion of the directors the value of investment properties at 30 April 2024 is not materially different to cost.
7. Debtors
30/04/24 30/04/23
£ £
Trade debtors 14,273 28,023
Other debtors 22,522 37,715
_______ _______
36,795 65,738
_______ _______
8. Creditors: amounts falling due within one year
30/04/24 30/04/23
£ £
Bank loans and overdrafts 83,719 37,174
Trade creditors 7 ( 5,199)
Corporation tax 93,326 32,470
Social security and other taxes 21,886 372
Other creditors 4,222,462 4,224,915
_______ _______
4,421,400 4,289,732
_______ _______
9. Creditors: amounts falling due after more than one year
30/04/24 30/04/23
£ £
Bank loans and overdrafts 349,413 417,202
_______ _______
Bank loans are secured by a bond and floating charge over the assets of the company and a guarantee from Nisha Enterprises partnership in the sum of £208,000.
10. Called up share capital
Issued, called up and fully paid
30/04/24 30/04/23
No £ No £
Ordinary shares of £ 1.00 each 5 5 5 5
_______ _______ _______ _______
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Year Year Year
ended ended ended ended
30/04/24 30/04/23 30/04/24 30/04/23
£ £ £ £
Nisha Enterprises partnership - - ( 147,538) ( 147,538)
Nisha Enterprises Ltd - - ( 4,020,878) ( 4,020,878)
_______ _______ _______ _______
The directors are partners in Nisha Enterprises partnership and directors of Nisha Enterprises Ltd. The loans are interest free and repayable on demand.