Registered number
05150164
Shiram Properties Limited
Unaudited Filleted Accounts
30 June 2023
Shiram Properties Limited
Registered number: 05150164
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 725,000 725,000
Current assets
Debtors 4 185,243 184,510
Cash at bank and in hand 120,124 67,338
305,367 251,848
Creditors: amounts falling due within one year 5 (626,715) (613,077)
Net current liabilities (321,348) (361,229)
Total assets less current liabilities 403,652 363,771
Provisions for liabilities - deferred taxation (46,000) (35,000)
Net assets 357,652 328,771
Capital and reserves
Called up share capital 200 200
Fair value reserve (revaluation) 6 137,750 148,750
Profit and loss account 219,702 179,821
Shareholder's funds 357,652 328,771
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 member has 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.
M Freeman
Director
Approved by the board on 4 March 2024
Shiram Properties Limited
Notes to the Accounts
for the year ended 30 June 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 represents the value of rent receivable.
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:
Freehold investment property nil
Investments
Investment property is initially recorded at cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are shown in a non-distributable fair value reserve net of any related deferred taxation.
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. 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 property
£
Cost / revaluation - (Fair value)
At 1 July 2022 725,000
At 30 June 2023 725,000
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 725,000
At 30 June 2022 725,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 541,250 541,250
Cumulative depreciation based on historical cost - -
541,250 541,250
The property has been revalued by one of the Directors, who is a Chartered Surveyor, at his best estimate using comparable values in the market place.
4 Debtors 2023 2022
£ £
Other debtors 185,243 184,510
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,223 7,854
Other creditors 616,492 605,223
626,715 613,077
6 Fair valuation reserve 2023 2022
£ £
At 1 July 2022 183,750 183,750
Deferred taxation arising on the revaluation of land and buildings (46,000) (35,000)
At 30 June 2023 137,750 148,750
7 Related party transactions
The Directors have lent between them interest free loans of £535,555 to the company. (2022: £524,429).

Investments Estates Limited, an associated company registered in England, has lent the company an interest free loan of £80,000 (2022: £80,000).

The company is owed £185,243 (2022: £184,510) from Ridgemount Limited, an associated company registered in England.
8 Controlling party
The ultimate controlling party is S Freeman, director.
9 Other information
Shiram Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Cowen Suite, Kinetic Centre
Theobald Street
Borehamwood
Herts.
WD6 4PJ
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