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REGISTERED NUMBER: 08512894 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SHINY HOMES LTD

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


SHINY HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: C S Ringer





REGISTERED OFFICE: Beresford
Main Road
Arreton
Isle of Wight
PO30 3AL





REGISTERED NUMBER: 08512894 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,320,000 2,330,000

CURRENT ASSETS
Cash at bank and in hand 18,398 27,428

CREDITORS
Amounts falling due within one year 5 1,858,319 1,827,987
NET CURRENT LIABILITIES (1,839,921 ) (1,800,559 )
TOTAL ASSETS LESS CURRENT LIABILITIES 480,079 529,441

PROVISIONS FOR LIABILITIES 55,067 57,663
NET ASSETS 425,012 471,778

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 425,011 471,777
SHAREHOLDERS' FUNDS 425,012 471,778

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 22 February 2024 and were signed by:





C S Ringer - Director


SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 2,330,000
Additions 73,223
Revaluations (83,223 )
At 31 May 2023 2,320,000
NET BOOK VALUE
At 31 May 2023 2,320,000
At 31 May 2022 2,330,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2016 (62,162 )
Valuation in 2017 1,174
Valuation in 2018 10,454
Valuation in 2019 36,379
Valuation in 2020 (2,622 )
Valuation in 2021 267,842
Valuation in 2022 94,631
Valuation in 2023 (83,223 )
Cost 2,057,527
2,320,000

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

2023 2022
£    £   
Cost 2,057,527 1,984,304
Aggregate depreciation (213,369 ) (178,454 )

The investment properties were valued on an open market basis on 31 May 2023 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 7,943 7,659
Other creditors 1,850,376 1,820,328
1,858,319 1,827,987