Company Registration No. SC592731 (Scotland)
Sisandbro Property Investments Limited
Unaudited accounts
for the year ended 31 March 2024
Sisandbro Property Investments Limited
Unaudited accounts
Contents
Sisandbro Property Investments Limited
Company Information
for the year ended 31 March 2024
Directors
Victoria Mei Yi Lau
Company Number
SC592731 (Scotland)
Registered Office
5 South Charlotte Street
Edinburgh
EH2 4AN
Scotland
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Sisandbro Property Investments Limited
Accountants' report
Accountants' report to the board of directors of Sisandbro Property Investments Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Sisandbro Property Investments Limited for the year ended
31 March 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Sisandbro Property Investments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Sisandbro Property Investments Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sisandbro Property Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sisandbro Property Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sisandbro Property Investments Limited. You consider that Sisandbro Property Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sisandbro Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
30 October 2024
Sisandbro Property Investments Limited
Statement of financial position
as at 31 March 2024
Investment property
559,467
538,388
Cash at bank and in hand
17,028
22,387
Creditors: amounts falling due within one year
(77,280)
(88,485)
Net current liabilities
(60,252)
(66,098)
Total assets less current liabilities
500,159
474,977
Creditors: amounts falling due after more than one year
(404,076)
(389,017)
Provisions for liabilities
Deferred tax
(24,653)
(24,303)
Called up share capital
10
10
Revaluation reserve
88,719
72,910
Profit and loss account
(17,299)
(11,263)
Shareholders' funds
71,430
61,657
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by
Victoria Mei Yi Lau
Director
Company Registration No. SC592731
Sisandbro Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Sisandbro Property Investments Limited is a private company, limited by shares, registered in Scotland, registration number SC592731. The registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Between 20% and 33% on cost
Computer equipment
33% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Sisandbro Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
12,085
1,992
14,077
At 31 March 2024
12,085
1,992
14,077
At 1 April 2023
10,472
918
11,390
Charge for the year
1,079
664
1,743
At 31 March 2024
11,551
1,582
13,133
At 31 March 2024
534
410
944
At 31 March 2023
1,613
1,074
2,687
Fair value at 1 April 2023
538,388
Net gain from fair value adjustments
21,079
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
67,636
87,720
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
150,000
365,441
Other creditors
254,076
23,576
Aggregate of amounts that fall due for payment after five years
-
365,441
Sisandbro Property Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Deferred taxation
2024
2023
Revaluation of investment property
29,573
24,303
Tax losses carried forward
(4,920)
-
Provision at start of year
24,303
-
Charged to the profit and loss account
350
24,303
Provision at end of year
24,653
24,303
Comparatives have been restated for deferred tax on revaluation of investment properties.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).