Company Registration No. SC589989 (Scotland)
SHMM PROPERTIES LTD
Unaudited accounts
for the year ended 28 February 2023
SHMM PROPERTIES LTD
Unaudited accounts
Contents
SHMM PROPERTIES LTD
Company Information
for the year ended 28 February 2023
Directors
Steven Henry Sneddon
Holly Sneddon
Company Number
SC589989 (Scotland)
Registered Office
50 JAMES YOUNG ROAD
BATHGATE
EH48 2UP
UNITED KINGDOM
Accountants
Gregory Accounting Services Limited
87 Meadowpark Avenue
Bathgate
West Lothian
EH48 2ST
SHMM PROPERTIES LTD
Statement of financial position
as at 28 February 2023
Tangible assets
(82,560)
8,100
Investment property
2,405,000
1,935,000
Cash at bank and in hand
3,687
6,927
Creditors: amounts falling due within one year
(467,258)
(603,207)
Net current liabilities
(463,571)
(596,280)
Total assets less current liabilities
1,858,869
1,346,820
Creditors: amounts falling due after more than one year
(1,118,853)
(1,118,853)
Net assets
740,016
227,967
Called up share capital
2
2
Revaluation reserve
558,352
88,352
Profit and loss account
181,662
139,613
Shareholders' funds
740,016
227,967
For the year ending 28 February 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
Steven Henry Sneddon
Director
Company Registration No. SC589989
SHMM PROPERTIES LTD
Notes to the Accounts
for the year ended 28 February 2023
SHMM PROPERTIES LTD is a private company, limited by shares, registered in Scotland, registration number SC589989. The registered office is 50 JAMES YOUNG ROAD, BATHGATE, EH48 2UP, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2022
-
13,302
13,302
Disposals
(88,000)
-
(88,000)
At 28 February 2023
(88,000)
13,302
(74,698)
At 1 March 2022
-
5,202
5,202
Charge for the year
-
2,660
2,660
At 28 February 2023
-
7,862
7,862
At 28 February 2023
(88,000)
5,440
(82,560)
At 28 February 2022
-
8,100
8,100
Fair value at 1 March 2022
1,935,000
Net gain from fair value adjustments
470,000
At 28 February 2023
2,405,000
SHMM PROPERTIES LTD
Notes to the Accounts
for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
15,085
12,072
Other creditors
121,857
257,760
Loans from directors
329,844
332,902
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,118,853
1,118,853
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).