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REGISTERED NUMBER: SC383839 (Scotland)




















Sheridan Keane Real Estate Investment
Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sheridan Keane Real Estate Investment
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S G Sheridan
Mrs V J Sheridan
C Keane
Mrs J Keane



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC383839 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
600 Gorgie Road
Edinburgh
EH11 3XP

Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 70,071 9,154
70,071 9,154

CURRENT ASSETS
Debtors 6 433,394 1,003,596
Cash at bank and in hand 156,337 837,165
589,731 1,840,761
CREDITORS
Amounts falling due within one year 7 381,895 489,857
NET CURRENT ASSETS 207,836 1,350,904
TOTAL ASSETS LESS CURRENT LIABILITIES 277,907 1,360,058

CREDITORS
Amounts falling due after more than one
year

8

(122,537

)

(120,833

)

PROVISIONS FOR LIABILITIES (16,930 ) (2,160 )
NET ASSETS 138,440 1,237,065

Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 138,336 1,236,961
138,440 1,237,065

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

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

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 5 June 2024 and were signed on its behalf by:





S G Sheridan - Director


Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sheridan Keane Real Estate Investment Limited is a private company, limited by shares , registered in Scotland. 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.

The director's going concern assessment includes a period of at least 12 months from the date of signing of these financial statements

Turnover
Turnover represents net invoiced property commission, excluding value added tax.

Revenue is recognised when the service has been provided and all obligations to the customers under the agreement have been fulfilled.

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.
Motor vehicles - 25% on cost
Computer & office equipment - 33% on cost

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.


Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 2,400
AMORTISATION
At 1 January 2023
and 31 December 2023 2,400
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 40,932
Additions 86,106
At 31 December 2023 127,038
DEPRECIATION
At 1 January 2023 31,778
Charge for year 25,189
At 31 December 2023 56,967
NET BOOK VALUE
At 31 December 2023 70,071
At 31 December 2022 9,154

Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 75,249
At 31 December 2023 75,249
DEPRECIATION
Charge for year 15,050
At 31 December 2023 15,050
NET BOOK VALUE
At 31 December 2023 60,199

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 212,463 472,282
Amounts owed by group undertakings 109,828 318,008
Other debtors 111,103 213,306
433,394 1,003,596

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 9) 8,226 -
Amounts owed to group undertakings 138,508 -
Taxation and social security 143,011 420,819
Other creditors 42,150 19,038
381,895 489,857

Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 70,833 120,833
Hire purchase contracts (see note 9) 51,704 -
122,537 120,833

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 8,226 -
Between one and five years 51,704 -
59,930 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 30,080 29,455
Between one and five years 37,633 60,213
67,713 89,668

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 120,833 170,833

The Bank of Scotland Plc holds a bond and floating charge over the assets of the company.

Sheridan Keane Real Estate Investment
Limited (Registered number: SC383839)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a directors loan balance of £2,663 (2022 - £35,862 was held within debtors).

12. RELATED PARTY DISCLOSURES

DIVIDENDS

During the year dividends of £1,262,230 (2022 - £401,699) were paid to the shareholders and their related companies.