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COMPANY REGISTRATION NUMBER: 13430447
Shoecase Properties Ltd
Filleted Unaudited Financial Statements
30 June 2023
Shoecase Properties Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Shoecase Properties Ltd
Officers and Professional Advisers
Director
S B Spitz
Registered office
Suite 456
The Brentano Suite
Catalyst House
Centennial Avenue
Borehamwood, Hertfordshire
WD6 3SY
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Shoecase Properties Ltd
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Shoecase Properties Ltd
Year ended 30 June 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 June 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Shoecase Properties Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
328,000
328,000
Current assets
Debtors
5
780
Cash at bank and in hand
2,506
5,704
-------
-------
3,286
5,704
Creditors: amounts falling due within one year
6
97,718
97,817
--------
--------
Net current liabilities
94,432
92,113
---------
---------
Total assets less current liabilities
233,568
235,887
Creditors: amounts falling due after more than one year
7
234,977
234,977
---------
---------
Net (liabilities)/assets
( 1,409)
910
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,509)
810
-------
----
Shareholders (deficit)/funds
( 1,409)
910
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Shoecase Properties Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 15 March 2024 , and are signed on behalf of the board by:
S B Spitz
Director
Company registration number: 13430447
Shoecase Properties Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 456, The Brentano Suite, Catalyst House, Centennial Avenue, Borehamwood, Hertfordshire, WD6 3SY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment properties
Investment properties are accounted for at their fair value every 3 years on a regular basis. Changes in fair value are reflected through the profit and loss account and any unrealised gains or losses are transferred from profit and loss to the fair value reserve. No depreciation is provided in respect of investment properties. This treatment is a departure from the requirements of the companies act 2006 which requires all properties to be depreciated. However, the director considers that these properties are not held for consumption but for investment and that to depreciate them would not give a true and fair view. The amount of of depreciation which might otherwise have been charged cannot be separately identified or quantified as it is not practical to assess the estimated useful lives for investment properties.
Going concern
In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
4. Tangible assets
Long leasehold property
£
Cost
At 1 July 2022 and 30 June 2023
328,000
---------
Depreciation
At 1 July 2022 and 30 June 2023
---------
Carrying amount
At 30 June 2023
328,000
---------
At 30 June 2022
328,000
---------
5. Debtors
2023
2022
£
£
Other debtors
780
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
190
Other creditors
97,718
97,627
--------
--------
97,718
97,817
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
234,977
234,977
---------
---------
The company has provided security to One Savings Bank plc by way of a charge over the property owned.