3S INVESTMENT PROPERTIES LIMITED

Company Registration Number:
SC221563 (Scotland)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 01 April 2017

End date: 31 March 2018

3S INVESTMENT PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

3S INVESTMENT PROPERTIES LIMITED

Balance sheet

As at 31 March 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 2 0 222
Tangible assets: 3 0 167
Total fixed assets: 0 389
Current assets
Debtors: 4 575,000 575,762
Cash at bank and in hand: 508 3,311
Total current assets: 575,508 579,073
Creditors: amounts falling due within one year: 5 (58,281) (62,283)
Net current assets (liabilities): 517,227 516,790
Total assets less current liabilities: 517,227 517,179
Total net assets (liabilities): 517,227 517,179
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 517,226 517,178
Shareholders funds: 517,227 517,179

The notes form part of these financial statements

3S INVESTMENT PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 March 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 10 December 2018
and signed on behalf of the board by:

Name: Shafqat Rasul
Status: Director

The notes form part of these financial statements

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Other accounting policies

TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Intangible Assets

Total
Cost £
At 01 April 2017 3,000
Disposals (3,000)
At 31 March 2018 0
Amortisation
At 01 April 2017 2,778
Charge for year 222
On disposals (3,000)
At 31 March 2018 0
Net book value
At 31 March 2018 0
At 31 March 2017 222

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Tangible Assets

Total
Cost £
At 01 April 2017 1,000
Disposals (1,000)
At 31 March 2018 0
Depreciation
At 01 April 2017 833
Charge for year 167
On disposals (1,000)
At 31 March 2018 0
Net book value
At 31 March 2018 0
At 31 March 2017 167

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

4. Debtors

2018 2017
££
Debtors due after more than one year: 0 0

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

5. Creditors: amounts falling due within one year note

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

6. Loans to directors

Name of director receiving advance or credit: Shafqat Rasul
Description of the loan: The company had assigned to it £nil (2017: £18,802) of a loan to Mr Shafqat Rasul and the company paid to him £nil (2017: £9,000), leaving a balance due to Mr Shafqat Rasul at the year-end of £nil (2017: £nil).
£
Balance at 01 April 2017 0
Balance at 31 March 2018 0

3S INVESTMENT PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

7. Related party transactions

Name of the related party: E-net Computers Limited
Relationship:
Also owned by the shareholder / director
Description of the Transaction: As at 31st March 2017 there was a balance outstanding of £58,000 (2017: £56,000) to E-net Computers Limited. There are no formal repayment terms and no interest is charged on the loan.
£
Balance at 01 April 2017 56,000
Balance at 31 March 2018 58,000
Name of the related party: SRA Ventures Limited
Relationship:
Also owned by the shareholder / director
Description of the Transaction: Mr Shafqat Rasul is the director and sole shareholder of the company and is also a director of E-net Holdings Limited, which itself is the sole shareholder in SRA Ventures Limited.During the year the company received loan payments of £nil (2017: £4,000) from SRA Ventures Limited and made repayments to SRA Ventures Limited of £nil (2017: £17,000) leaving a balance due from SRA Ventures Limited of £575,000 (2015: £575,000). There are no formal repayment terms and no interest is charged on the loan.
£
Balance at 01 April 2017 575,000
Balance at 31 March 2018 575,000