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REGISTERED NUMBER: 05116260 (England and Wales)











Financial Statements

for the Year Ended 31st March 2023

for

SHRIJI PROPERTY LIMITED

SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHRIJI PROPERTY LIMITED

Company Information
for the year ended 31st March 2023







DIRECTOR: U K Patel





SECRETARY: Mrs SU Patel





REGISTERED OFFICE: Meadowcroft
38 Grays Lane
Ashtead
Surrey
KT21 1BU





REGISTERED NUMBER: 05116260 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,498 741
Investment property 5 2,925,000 3,000,000
2,926,498 3,000,741

CURRENT ASSETS
Debtors 6 694 3,065
Cash at bank 119,474 93,395
120,168 96,460
CREDITORS
Amounts falling due within one year 7 24,308 28,631
NET CURRENT ASSETS 95,860 67,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,022,358

3,068,570

CREDITORS
Amounts falling due after more than one year 8 (1,886,161 ) (1,886,161 )

PROVISIONS FOR LIABILITIES (181,177 ) (151,944 )
NET ASSETS 955,020 1,030,465

CAPITAL AND RESERVES
Called up share capital 9 100 100
Property valuation reserve 10 646,104 721,104
Retained earnings 10 308,816 309,261
SHAREHOLDERS' FUNDS 955,020 1,030,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)

Balance Sheet - continued
31st March 2023


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 Profit and loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st May 2023 and were signed by:





U K Patel - Director


SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Shriji Property Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover represents rental income receivable for the year. The company is not registered for VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
The investment properties are held at fair value and are valued by an independent surveyor who is experienced in the valuation of residential properties in the area.

Surpluses on revaluation are recognised in the profit and loss account and are transferred to the property valuation reserve.

No provision for depreciation is charged in respect of investment properties. This policy represents a departure from the requirements of Companies Act 2006, to provide for systematic annual depreciation for fixed assets. As the property is held for investment rather than for consumption, the director does not consider that the adoption of this policy is necessary to provide a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss Account, 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.

SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2022 2,877
Additions 963
Disposals (150 )
At 31st March 2023 3,690
DEPRECIATION
At 1st April 2022 2,136
Charge for year 206
Eliminated on disposal (150 )
At 31st March 2023 2,192
NET BOOK VALUE
At 31st March 2023 1,498
At 31st March 2022 741

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 3,000,000
Revaluations (75,000 )
At 31st March 2023 2,925,000
NET BOOK VALUE
At 31st March 2023 2,925,000
At 31st March 2022 3,000,000

SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2009 345,369
Valuation in 2013 250,000
Valuation in 2015 154,337
Valuation in 2016 129,500
Valuation in 2019 (579,500 )
Valuation in 2020 70,000
Valuation in 2021 130,000
Valuation in 2022 300,000
Valuation in 2023 (75,000 )
Cost 2,200,294
2,925,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,200,294 2,200,294

The freehold property was valued on an open market basis on 31st March 2023 by the director .

In accordance with applicable accounting standards, no depreciation is charged in respect of investment properties. This policy represents a departure from the requirements of the Companies Act 2006, to provide systematic annual depreciation for fixed assets. However, as the property is held for investment and not consumption, the director does not consider the adoption of this policy necessary to give a true and fair view.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,246
Prepayments 694 1,819
694 3,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 6,507 11,024
Other creditors 11,129 13,052
Deferred income 4,117 1,866
Accrued expenses 2,555 2,689
24,308 28,631

SHRIJI PROPERTY LIMITED (REGISTERED NUMBER: 05116260)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,886,161 1,886,161

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Property
Retained valuation
earnings reserve Totals
£    £    £   

At 1st April 2022 309,261 721,104 1,030,365
Deficit for the year (75,445 ) (75,445 )
Transfer 75,000 (75,000 ) -
At 31st March 2023 308,816 646,104 954,920

11. RELATED PARTY DISCLOSURES

The company owes £1,886,161 (2022- £1,886,161) to Yamunaji Holdings Limited, the parent company, which is controlled by the director. There are no formal repayment terms attaching to the loan, which is interest free.

The ultimate controlling party is U K Patel.

12. DEFERRED TAX

A provision of £181,777 (£151,844 - 2022) has been made in connection with the tax that would be payable in the event of the disposal of the investment properties. This provision has been made in order to comply with the requirements of FRS 102 1A, but there are no plans to sell either of the investment properties in the foreseeable future.