Company Registration No. 14519560 (England and Wales)
Shed Property Investments Ltd
Unaudited accounts
for the period from 1 December 2022 to 31 December 2023
Shed Property Investments Ltd
Unaudited accounts
Contents
Shed Property Investments Ltd
Company Information
for the period from 1 December 2022 to 31 December 2023
Directors
D B Clarke
S Clarke
Company Number
14519560 (England and Wales)
Registered Office
Friars End
Greyfriars Drive
Ascot
SL5 9JD
UK
Shed Property Investments Ltd
Statement of financial position
as at 31 December 2023
Investment property
535,167
Cash at bank and in hand
655,467
Creditors: amounts falling due within one year
(1,200,400)
Net current liabilities
(544,933)
Called up share capital
100
Profit and loss account
(9,866)
Shareholders' funds
(9,766)
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by
D B Clarke
Director
Company Registration No. 14519560
Shed Property Investments Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 December 2023
Shed Property Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 14519560. The registered office is Friars End, Greyfriars Drive, Ascot, SL5 9JD, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market 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.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Shed Property Investments Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 December 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's investment properties. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Investment properties (note 4)
Investment properties are valued annually by the director against the market, but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself.
At 31 December 2023
535,167
5
Creditors: amounts falling due within one year
2023
Loans from directors
1,200,400
6
Average number of employees
During the period the average number of employees was 1.