REGISTERED NUMBER: SC193655 (Scotland)

Jasmine Holdings (Edinburgh) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C M C Tong

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC193655 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Santander

2 Triton Square

Regent's Place

London

NW1 3AN

FIXED ASSETS

Tangible assets

4

999

2,000

Investment property

5

450,000

400,000

450,999

402,000

CURRENT ASSETS

Debtors

6

670,590

620,466

Cash at bank

1,409

2,358

671,999

622,824

CREDITORS

Amounts falling due within one year

7

707,310

825,903

NET CURRENT LIABILITIES

(35,311

)

(203,079

)

TOTAL ASSETS LESS CURRENT LIABILITIES

415,688

198,921

CREDITORS

Amounts falling due after more than one year

8

(298,460

)

(59,770

)

PROVISIONS FOR LIABILITIES

-

(10,000

)

NET ASSETS

117,228

129,151

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

11

90,000

30,000

Retained earnings

27,226

99,149

SHAREHOLDERS' FUNDS

117,228

129,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 27 November 2025 and were signed by:

Mrs C M C Tong - Director

1.	STATUTORY INFORMATION

Jasmine Holdings (Edinburgh) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Revenue represents rental income and management fees receivable for the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investment property

Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2023

and 30 June 2024

8,104

DEPRECIATION

At 1 July 2023

6,104

Charge for year

1,001

At 30 June 2024

7,105

NET BOOK VALUE

At 30 June 2024

999

At 30 June 2023

2,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2023

400,000

Revaluations

50,000

At 30 June 2024

450,000

NET BOOK VALUE

At 30 June 2024

450,000

At 30 June 2023

400,000

Fair value at 30 June 2024 is represented by:

£

Valuation in 2017

(99,399

)

Valuation in 2021

40,000

Valuation in 2024

50,000

Cost

459,399

450,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

459,399

459,399

The investment property was valued on an open market basis on 21 September 2023 by J & E Shepherd Chartered Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

188,294

201,994

Other debtors

482,296

418,472

670,590

620,466

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

6,600

26,870

Trade creditors

44,419

20,073

Amounts owed to group undertakings

-

220,307

Taxation and social security

58,925

67,693

Other creditors

597,366

490,960

707,310

825,903

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

298,460

59,770

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

289,110

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

24,923

14,930

Between one and five years

77,690

1,102

102,613

16,032

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

289,110

64,090

On 21 December 2023, a floating charge contains negative pledge was created for all sums due or to become due to Together Commercial Finance Limited over all the property or undertaking of the company.

11.

RESERVES

Fair

value

reserve

£

At 1 July 2023

30,000

Revaluation for the year

50,000

Transfer in year

10,000

At 30 June 2024

90,000

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024

2023

£

£

Mrs C M C Tong

Balance outstanding at start of year

-

-

Amounts advanced

5,363

-

Amounts repaid

(107

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,256

-

The director's current account is unsecured, interest free and has no fixed term of repayment.

13.	RELATED PARTY DISCLOSURES

Thai Lemongrass Limited is a wholly owned subsidiary of Jasmine Holdings (Edinburgh) Limited. During the year, the company received loans totalling £1,473,482 from Thai Lemongrass Limited. The company repaid £1,693,789 to Thai Lemongrass Limited. The balance was £nil on 30 June 2024 (2023: £220,307 due to Thai Lemongrass Limited). The company received rental incomes of £36,000 (2023: £36,000) and management fees of £35,000 (2023: £35,000) from Thai Lemongrass Limited for the year.

Primrose Guest House Limited is a wholly owned subsidiary of Jasmine Holdings (Edinburgh) Limited. During the year, the company loaned £64,200 (2023: £51,800) to Primrose Guest House Limited. Primrose Guest House Limited repaid £73,300 (2023: £53,459) to the company. There was rent amount of £4,600 due to Primrose Guest House Limited on 30 June 2024. The balance of £188,294 (2023: £201,994) was due from Primrose Guest House Limited on 30 June 2024. Primrose Guest House Limited received rental incomes of £38,400 (2023: £38,400) from the company for the year.

Hibiki Limited is a company of which Mrs C C M Tong is a director and shareholder. During the year, the company received loans totalling £681,925 (2023: £626,805) from Hibiki Limited. The company repaid £724,864 (2023: £310,498) to Hibiki Limited. The balance of £432,615 (2023: £475,554) was due to Hibiki Limited on 30 June 2024. The company also received management fees of £75,000 (2023: £75,000) from Hibiki Limited for the year.

Castle 45 Limited is a company of which Mrs C C M Tong is a director and shareholder. During the year, the company loaned £108,400 to Castle 45 Limited. Castle 45 Limited repaid £32,302 to the company. The balance of £450,547 (2023: £374,449) was due from Castle 45 Limited on 30 June 2024. The company received management fees of £25,000 (2023: £25,000) from Castle 45 Limited for the year.

Spirit of Thai Limited is a company of which Mrs C C M Tong is a director and shareholder. During the year, the company received loans totalling £182,800 (2023: £193,500) from Spirit of Thai Limited. The company repaid £26,200 (2023: £18,300) and paid expenses of £16,915 (2023: £184,309) on behalf of Spirit of Thai Limited. The balance of £144,121 (2023: £4,436) was due to Spirit of Thai Limited on 30 June 2024. The company also received management fees of £35,000 (2023: £35,000) from Spirit of Thai Limited for the year.

Sun Source Holdings Limited is a Hong Kong company of which Mrs C C M Tong is a director and shareholder. The balance of £6,697 (2023: £6,697) was due from Sun Source Holdings Limited on 30 June 2024.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C M C Tong.

15.	GOING CONCERN

The financial statements have been prepared on the going concern principle which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its director, bank and creditors. The director will continue to support the company and is confident of the continued support of the bank and creditors.