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Company No: 11839641 (England and Wales)

SISTER ACT HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

SISTER ACT HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

SISTER ACT HOLDINGS LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
SISTER ACT HOLDINGS LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 535,000 535,000
Investments 4 200 200
535,200 535,200
Current assets
Debtors 5 73,053 89,631
Cash at bank and in hand 868 0
73,921 89,631
Creditors: amounts falling due within one year 6 ( 25,957) ( 24,320)
Net current assets 47,964 65,311
Total assets less current liabilities 583,164 600,511
Creditors: amounts falling due after more than one year 7 ( 284,270) ( 307,397)
Provision for liabilities ( 90,044) ( 90,043)
Net assets 208,850 203,071
Capital and reserves
Called-up share capital 200 200
Profit and loss account 208,650 202,871
Total shareholders' funds 208,850 203,071

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sister Act Holdings Limited (registered number: 11839641) were approved and authorised for issue by the Board of Directors on 10 April 2025. They were signed on its behalf by:

T Vadhera
Director
SISTER ACT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
SISTER ACT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sister Act Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 125a Kenton Road Gosforth, Newcastle Upon Tyne, NE3 4NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors not on the payroll. 2 2

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 535,000
As at 31 August 2024 535,000

The property was revalued on 25 October 2022 by Sanderson Weatherall. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historical cost of the property was £259,875. No change was noted to the valuation in the current year.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 200
At 31 August 2024 200
Carrying value at 31 August 2024 200
Carrying value at 31 August 2023 200

Investments in shares

Name of entity Registered office Class of
shares
Ownership
31.08.2024
Ownership
31.08.2023
Held
Sister Act 125a Kenton Road, Newcastle upon Tyne, NE3 4NQ Ordinary 100.00% 100.00% Direct

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 71,533 88,825
Other debtors 1,520 806
73,053 89,631

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 20,750 19,306
Accruals 2,400 2,220
Taxation and social security 1,807 1,794
Other creditors 1,000 1,000
25,957 24,320

Included with other creditors due within one year are amounts owed to the directors of £1,000 (2023 - £1,000).

The bank loan is secured on the property to which it relates.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 284,270 307,397