Registration number: NI634908

SIKKIM Properties Ltd

Contents

Company Information	1
Accountants' Report	2
Abridged Balance Sheet	3 to 4
Notes to the Unaudited Abridged Financial Statements	5 to 8

SIKKIM Properties Ltd

Company Information

Director

Mrs Fiona Rogers

Registered office

184 Upper Newtownards Road Belfast BT4 3ES

Accountants

Hamilton Morris Waugh Chartered Certified Accountants34 Dufferin Avenue Bangor Down BT20 3AA

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SIKKIM Properties Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SIKKIM Properties Ltd for the year ended 31 December 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants (ACCA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of SIKKIM Properties Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SIKKIM Properties Ltd and state those matters that we have agreed to state to the Board of Directors of SIKKIM Properties Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SIKKIM Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SIKKIM Properties Ltd 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 SIKKIM Properties Ltd. You consider that SIKKIM Properties Ltd 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 SIKKIM Properties Ltd. 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.

......................................

Hamilton Morris Waugh
Chartered Certified Accountants
34 Dufferin Avenue
Bangor
Down
BT20 3AA

26 August 2025

SIKKIM Properties Ltd

(Registration number: NI634908)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,681,392	2,032,881
Current assets
Debtors		223,261	259,692
Cash at bank and in hand		125,241	59,382
		348,502	319,074
Creditors: Amounts falling due within one year		(135,018)	(132,806)
Net current assets		213,484	186,268
Total assets less current liabilities		1,894,876	2,219,149
Creditors: Amounts falling due after more than one year		(958,359)	(1,042,950)
Provisions for liabilities		(209,264)	(169,947)
Accruals and deferred income		-	(94,278)
Net assets		727,253	911,974
Capital and reserves
Called up share capital	5	1	1
Revaluation reserve		627,794	814,092
Retained earnings		99,458	97,881
Shareholders' funds		727,253	911,974

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 August 2025
 

SIKKIM Properties Ltd

(Registration number: NI634908)
Abridged Balance Sheet as at 31 December 2024

......................................... Mrs Fiona Rogers Director

SIKKIM Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
184 Upper Newtownards Road
Belfast
BT4 3ES

These financial statements were authorised for issue by the director on 26 August 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

SIKKIM Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fittings	8.33 % straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SIKKIM Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	1,975,000	108,017	-	2,083,017
Additions	-	-	3,350	3,350
Disposals	(345,000)	-	-	(345,000)
At 31 December 2024	1,630,000	108,017	3,350	1,741,367
Depreciation
At 1 January 2024	-	50,136	-	50,136
Charge for the year	-	9,001	838	9,839
At 31 December 2024	-	59,137	838	59,975
Carrying amount
At 31 December 2024	1,630,000	48,880	2,512	1,681,392
At 31 December 2023	1,975,000	57,881	-	2,032,881

Included within the net book value of land and buildings above is £1,630,000 (2023 - £1,975,000) in respect of freehold land and buildings.
 

SIKKIM Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

5	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1