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REGISTERED NUMBER: 12192210 (England and Wales)











Short Overseas Investments Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023






Short Overseas Investments Limited (Registered number: 12192210)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Short Overseas Investments Limited

Company Information
for the Year Ended 30 September 2023







Directors: Mrs L A Short
A Short





Registered office: Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ





Registered number: 12192210 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Short Overseas Investments Limited (Registered number: 12192210)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
Fixed assets
Tangible assets 4 4,146 5,527
Investment property 5 771,552 697,674
775,698 703,201

Current assets
Debtors 6 703 5,086
Cash at bank 194 825
897 5,911
Creditors
Amounts falling due within one year 7 (544,468 ) (528,794 )
Net current liabilities (543,571 ) (522,883 )
Total assets less current liabilities 232,127 180,318

Provisions for liabilities 8 (53,822 ) (39,786 )
Net assets 178,305 140,532

Capital and reserves
Called up share capital 9 100 100
Fair value reserve 10 229,454 169,612
Retained earnings (51,249 ) (29,180 )
Shareholders' funds 178,305 140,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Short Overseas Investments Limited (Registered number: 12192210)

Balance Sheet - continued
30 September 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:





A Short - Director


Short Overseas Investments Limited (Registered number: 12192210)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. Statutory information

Short Overseas Investments 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.

The financial statements have been prepared on a going concern basis as despite a difficult trading year, the directors are hopeful of an upturn in trade and will continue to provide sufficient finance to enable the company to continue trading for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Short Overseas Investments Limited (Registered number: 12192210)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. Accounting policies - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. Employees and directors

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

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 October 2022
and 30 September 2023 13,101
Depreciation
At 1 October 2022 7,574
Charge for year 1,381
At 30 September 2023 8,955
Net book value
At 30 September 2023 4,146
At 30 September 2022 5,527

Short Overseas Investments Limited (Registered number: 12192210)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. Investment property
Total
£   
Fair value
At 1 October 2022 697,674
Valuation changes 73,878
At 30 September 2023 771,552
Net book value
At 30 September 2023 771,552
At 30 September 2022 697,674

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 771,552

If investment property had not been revalued it would have been included at the following historical cost:

30.9.23 30.9.22
£    £   
Cost 488,276 488,276

Investment property was valued on an open market basis on 4 March 2024 by Vale Do Lobo real estate .

6. Debtors: amounts falling due within one year
30.9.23 30.9.22
£    £   
Other debtors - 5,086
Prepayments 703 -
703 5,086

7. Creditors: amounts falling due within one year
30.9.23 30.9.22
£    £   
Other creditors 298,788 283,144
Directors' current accounts 244,900 244,900
Accrued expenses 780 750
544,468 528,794

Short Overseas Investments Limited (Registered number: 12192210)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. Provisions for liabilities
30.9.23 30.9.22
£    £   
Deferred tax 53,822 39,786

Deferred
tax
£   
Balance at 1 October 2022 39,786
Provided during year 14,036
Balance at 30 September 2023 53,822

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary £1 100 100

10. Reserves
Fair
value
reserve
£   
At 1 October 2022 169,612
Transfer from retained earnings 59,842

At 30 September 2023 229,454

11. Related party disclosures

The directors are controlling shareholders in Short Construction Limited, at the year the company received an interest free loan totalling £298,426 (2022 £283,144), this is shown as repayable within Other creditors.