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REGISTERED NUMBER: 04212278 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30th September 2023

for

Sheaf Garden Property Limited

Sheaf Garden Property Limited (Registered number: 04212278)






Contents of the Financial Statements
for the year ended 30th September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Sheaf Garden Property Limited

Company Information
for the year ended 30th September 2023







DIRECTORS: S T Dixon
N Dixon



SECRETARY: Mrs N Van Beelen



REGISTERED OFFICE: 1 Monckton Court
South Newbald Road
North Newbald
York
YO43 4RW



REGISTERED NUMBER: 04212278 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Natwest Bank plc
1 Victoria Place
Leeds
LS11 5AN



SOLICITORS: Gosschalks
Queens Gardens
Dock Street
Hull
East Yorkshire
HU1 3DZ

Sheaf Garden Property Limited (Registered number: 04212278)

Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,975 35,865

CURRENT ASSETS
Stocks and work in progress 24,970 15,384
Debtors 5 51,133 51,367
Cash at bank 10,934 35,559
87,037 102,310
CREDITORS
Amounts falling due within one year 6 46,604 63,309
NET CURRENT ASSETS 40,433 39,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,408

74,866

CREDITORS
Amounts falling due after more than one
year

7

32,310

53,005
NET ASSETS 35,098 21,861

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 34,098 20,861
SHAREHOLDERS' FUNDS 35,098 21,861

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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.

Sheaf Garden Property Limited (Registered number: 04212278)

Balance Sheet - continued
30th 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th April 2024 and were signed on its behalf by:





N Dixon - Director


Sheaf Garden Property Limited (Registered number: 04212278)

Notes to the Financial Statements
for the year ended 30th September 2023

1. STATUTORY INFORMATION

Sheaf Garden Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks and work in progress to their present location and condition.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Sheaf Garden Property Limited (Registered number: 04212278)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2022
and 30th September 2023 145,569
DEPRECIATION
At 1st October 2022 109,704
Charge for year 8,890
At 30th September 2023 118,594
NET BOOK VALUE
At 30th September 2023 26,975
At 30th September 2022 35,865

The net book value of tangible fixed assets includes £ 23,217 (2022 - £ 30,956 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,133 2,367
Loan to Living By Ispace Ltd 49,000 49,000
51,133 51,367

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,800 5,800
Trade creditors 317 2,883
Social security and other taxes 143 6,331
Loan from Innovating Space Ltd 13,737 12,742
Other creditors - 305
Accrued expenses 26,607 35,248
46,604 63,309

Sheaf Garden Property Limited (Registered number: 04212278)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 10,665 16,465
Directors' current accounts 21,645 36,540
32,310 53,005

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RELATED PARTY DISCLOSURES

At 30th September 2023 the company was owed £49,000 from Living By Ispace Ltd (2022: £49,000). The
company also owed £13,737 to Innovating Space Ltd (2022: £12,742).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sheaf Garden Property Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sheaf Garden Property Limited for the year ended 30th September 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sheaf Garden Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sheaf Garden Property Limited and state those matters that we have agreed to state to the Board of Directors of Sheaf Garden Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sheaf Garden Property Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sheaf Garden Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sheaf Garden Property Limited. You consider that Sheaf Garden Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sheaf Garden Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


9th April 2024