Sisman Investments Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

1. General Information

Sisman Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10668676 . The registered office is 156A Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% reducing balance

2.4. Investment Properties

Freehold and leasehold land & property comprises Investment Properties, being non-owner occupied buildings held to earn rentals and for capital appreciation.

All investment properties are carried at fair value. The fair value of the company's investment properties is determined annually at the reporting date by the directors. In determining the valuations, the directors refer to current market conditions and recent sales transactions of similar properties. In estimating the fair value of the properties, the highest and best use of the property is their current use. Changes in fair value are recognised in the income statement.

2025 fair value of investment property: £1,742,160 (2024: £1,742,160)

Investment property is derecognised when disposed of, or when no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property is recognised in profit or loss in the period in which the property is derecognised.

In accordance with FRS 102, depreciation is not provided for on Investment Properties. This is a departure from the Companies Act 2006 which requires all tangible assets to be depreciated. In the opinion of the directors, this departure is necessary for the financial statements to give a true and fair view and comply with applicable accounting standards which require Investment Properties to be included in the financial statements at fair value. The effect of depreciation is implicitly reflected in the valuation of investment properties, and the amount attributable to this factor cannot reasonably be separately identified or quantified by the valuers. Had the provisions of the Act been followed, assets would not have been affected but operating costs would have increased for this and earlier years and valuation movements would have correspondingly changed. There would be no impact on profit for the year.

Page 3

Page 4

Sisman Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation

The tax expense represents the sum of the corporation tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2024	1,742,160	5,119	1,747,279

As at 31 March 2025	1,742,160	5,119	1,747,279

Depreciation
As at 1 April 2024	-	3,324	3,324
Provided during the period	-	359	359

As at 31 March 2025	-	3,683	3,683

Net Book Value
As at 31 March 2025	1,742,160	1,436	1,743,596

As at 1 April 2024	1,742,160	1,795	1,743,955

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	3,541	-
Prepayments and accrued income	1,040	-
Amounts owed by related parties	68,022	129,466

	72,603	129,466

Page 4

Page 5

Sisman Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Bank loans and overdrafts	3,252	3,324
Corporation tax	6,914	8,012
Rent deposit	11,269	12,794
Accruals and deferred income	10,623	6,155

	32,058	30,285

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	1,198,977	1,203,411
Other taxes and social security	-	181
Amounts owed to other participating interests	364,159	450,617

	1,563,136	1,654,209

8. Deferred Taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences and the deferred taxation liability wholly comprises the fair value gain of the investment properties.

	2025	2024
	£	£
Other timing differences	42,071	42,071

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

10. Reserves

	Income Statement
	£
As at 1 April 2024	153,955
Profit for the year and total comprehensive income	29,117

Dividends paid	(1,000)

As at 31 March 2025	182,072

Included in retained earnings is £126,213 (2024: £126,213) of net profits which are not available for distribution as they are unrealised.

11. Related Party Transactions

The amount owed to the shareholders included in Amounts owed to other participating interests, is unsecured, has no fixed terms of repayment and does not accrue interest.

Included in Debtors are Amounts owed by related parties, which have arisen under normal market conditions.

Page 5

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,743,596		1,743,955

			1,743,596		1,743,955
CURRENT ASSETS
Debtors	5	72,603		129,466
Cash at bank and in hand		3,140		7,101

		75,743		136,567
Creditors: Amounts Falling Due Within One Year	6	(32,058 )		(30,285 )

NET CURRENT ASSETS (LIABILITIES)			43,685		106,282

TOTAL ASSETS LESS CURRENT LIABILITIES			1,787,281		1,850,237

Creditors: Amounts Falling Due After More Than One Year	7		(1,563,136 )		(1,654,209 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(42,071 )		(42,071 )

NET ASSETS			182,074		153,957

CAPITAL AND RESERVES
Called up share capital	9		2		2
Income Statement			182,072		153,955

SHAREHOLDERS' FUNDS			182,074		153,957