Company registration number 09624678 (England and Wales)
SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
Fixed assets
Investments
3
131,001
198,503
Current assets
Debtors
4
180
121,293
Investments
5
-
0
54,774
Cash at bank and in hand
90,533
99,063
90,713
275,130
Creditors: amounts falling due within one year
6
(1,063,031)
(1,114,069)
Net current liabilities
(972,318)
(838,939)
Net liabilities
(841,317)
(640,436)
Capital and reserves
Called up share capital
7
2,518
2,518
Share premium account
8
1,720,679
1,720,679
Profit and loss reserves
8
(2,564,514)
(2,363,633)
Total equity
(841,317)
(640,436)

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
J Leverne
Director
Company registration number 09624678 (England and Wales)
SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Sienna Real Estate Property Holding UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Euros, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.

 

The company has generated a loss before tax of €200,881 in the current year (2023: loss €1,337,787) and as at year end is in a net deficit position of €841,317.

 

The company has loans totalling €1,027,851 with group and connected parties. The loan agreements states the repayment of these loans will only be made if there are available funds.

 

The company has received signed letter of support from a related group company to provide financial support to enable the company to meet its liabilities as they fall due.

 

For that reason the director considers it appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the consulting services provided in the normal course of business, and is shown net of VAT.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Foreign exchange

Transactions in currencies other than euros are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees
2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
Shares in group undertakings and participating interests
131,001
198,503
SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
Cost or valuation
At 1 January 2024 & 31 December 2024
2,915,226
Impairment
At 1 January 2024
2,716,723
Impairment losses
67,502
At 31 December 2024
2,784,225
Carrying amount
At 31 December 2024
131,001
At 31 December 2023
198,503
4
Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
-
0
117,597
Other debtors
180
3,696
180
121,293
5
Current asset investments
2024
2023
Other investments
-
0
54,774
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
-
0
1,170
Taxation and social security
-
0
48,871
Other creditors
1,063,031
1,064,028
1,063,031
1,114,069

Included within other creditors are loans totalling €1,027,851 (2023: €1,000,532). The loans are unsecured, carry contractual interest rates and are repayable when the company has available funds and hence repayable on demand.

SIENNA REAL ESTATE PROPERTY HOLDING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
Issued and fully paid
Ordinary A shares of €1.20 each
130
130
156
156
Ordinary B shares of €1.18 each
408
408
481
481
Ordinary C shares of €1.18 each
1,599
1,599
1,881
1,881
2,137
2,137
2,518
2,518

There are 3 classes of Ordinary shares; ordinary A shares, ordinary B shares and ordinary C shares. All shares have attached to them full voting, dividend and capital distribution (including on winding up) rights, they do not confer any rights of redemption.

 

Nominal value of the shares are £1 per share for each classes of shares; Euro equivalent being:

8
Reserves
Profit and loss reserves

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Bashir Khan ACCA
Statutory Auditor:
Gravita II LLP
Date of audit report:
28 May 2025
10
Parent company

The parent company of Sienna Real Estate Property Holding UK Ltd is Sienna Real Estate Partner JV Netherlands BV and its registered office is Herengracht 598, 1017CH, Amsterdam, Netherlands..

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