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REGISTERED NUMBER: 10612609 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

THE SISTERS ESTATE LIMITED

THE SISTERS ESTATE LIMITED (REGISTERED NUMBER: 10612609)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE SISTERS ESTATE LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2024







DIRECTORS: Y A Bux
A Bux





REGISTERED OFFICE: Barton Hall
Garstang Road
Broughton
Preston
Lancashire
PR3 5BT





REGISTERED NUMBER: 10612609 (England and Wales)





ACCOUNTANTS: James Todd & Co
Greenbank House
141 Adelphi Street
Preston
Lancashire
PR1 7BH

THE SISTERS ESTATE LIMITED (REGISTERED NUMBER: 10612609)

BALANCE SHEET
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,076,102 -

CURRENT ASSETS
Debtors 5 4,775,000 3,425,000
Cash at bank and in hand 543,235 3,974,706
5,318,235 7,399,706
CREDITORS
Amounts falling due within one year 6 6,251,197 6,344,100
NET CURRENT (LIABILITIES)/ASSETS (932,962 ) 1,055,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,143,140

1,055,606

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 1,143,134 1,055,600
1,143,140 1,055,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





Y A Bux - Director


THE SISTERS ESTATE LIMITED (REGISTERED NUMBER: 10612609)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2024


1. STATUTORY INFORMATION

The Sisters Estate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 Income Statement, 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.

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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, loans and bank balances, are initially measured at transaction price, and are subsequently carried at cost. Basic financial liabilities, which include creditors, loans and borrowings, are initially recognised at transaction price, and are subsequently carried at cost.

3. EMPLOYEES AND DIRECTORS

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

THE SISTERS ESTATE LIMITED (REGISTERED NUMBER: 10612609)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 2,076,102
At 28 February 2024 2,076,102
NET BOOK VALUE
At 28 February 2024 2,076,102

The directors consider the market values of the investment properties as at 28 February 2024 to be not materially different to their original cost to the company.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,775,000 3,425,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 348 -
Corporation tax 22,223 -
Social security and other taxes 4,526 -
Other creditors 6,224,100 6,344,100
6,251,197 6,344,100

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £6,224,100 (2023: £6,344,100) to companies controlled by the directors. The company paid consultancy fees totalling £30,000 (2023: £nil) to these companies during the year.

During the year the company made donations totalling £115,000 (2023: £5,660) to The Matliwala Family Charitable Trust, of which both the directors of the company are also trustees of the charity.





8. GOING CONCERN

Although the company has substantial net assets at the balance sheet date, it has net current liabilities, meaning it is unable to pay its creditors as and when they fall due. The company continues to trade through the support of its bankers and creditors.