Registered number
12325809
Shape Residential Properties Ltd
Filleted Accounts
30 November 2023
Applied Accountancy Limited
Shape Residential Properties Ltd
Registered number: 12325809
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 866,981 852,230
Current assets
Debtors 4 1,676 -
Cash at bank and in hand 132,637 205,309
134,313 205,309
Creditors: amounts falling due within one year 5 (12,139) (76,982)
Net current assets 122,174 128,327
Total assets less current liabilities 989,155 980,557
Creditors: amounts falling due after more than one year 6 (534,798) (529,854)
Net assets 454,357 450,703
Capital and reserves
Called up share capital 100 100
Share premium 136,110 136,110
Profit and loss account 318,147 314,493
Shareholders' funds 454,357 450,703
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andreas Papadopoulos
Director
Approved by the board on 12 March 2024
Shape Residential Properties Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned property rental.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
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.
Creditors
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.
Taxation
A 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 850,000 4,503 854,503
Additions - 814 814
Revaluation 15,000 - 15,000
At 30 November 2023 865,000 5,317 870,317
Depreciation
At 1 December 2022 - 2,273 2,273
Charge for the year - 1,063 1,063
At 30 November 2023 - 3,336 3,336
Net book value
At 30 November 2023 865,000 1,981 866,981
At 30 November 2022 850,000 2,230 852,230
The investment properties were revalued to £865,000 on 30th November 2023 by the directors, who are suitably qualified, on an open market exisiting use basis.
If the investment property had not been included at valuation it would have been included under the historical cost convention at £924,000 (30.11.22 - £924,000)
4 Debtors 2023 2022
£ £
Other debtors 1,676 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 1,329 1,329
Taxation and social security costs - 67,171
Other creditors 10,810 8,482
12,139 76,982
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 534,798 529,854
7 Other information
Shape Residential Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Wellmeade Drive
Sevenoaks
Kent
TN13 1QA
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