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Company Registration No. 12302185 (England and Wales)
SHOREWAY PROPERTIES LIMITED Unaudited accounts for the year ended 30 November 2023
SHOREWAY PROPERTIES LIMITED Unaudited accounts Contents
Page
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SHOREWAY PROPERTIES LIMITED Company Information for the year ended 30 November 2023
Directors
Dr. Mumtaz Maher Dr. Saadia Rasul Virk
Company Number
12302185 (England and Wales)
Registered Office
30 Clarence Terrace London, NW1 4RD England
Accountants
Genius Accountancy Ltd 27 Old Gloucester Street London WC1N 3AX
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SHOREWAY PROPERTIES LIMITED Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
90,601 
128,912 
Investment property
7,634,713 
7,634,713 
7,725,314 
7,763,625 
Current assets
Debtors
25,323 
13,133 
Cash at bank and in hand
81,519 
64,496 
106,842 
77,629 
Creditors: amounts falling due within one year
(2,158,332)
(1,809,833)
Net current liabilities
(2,051,490)
(1,732,204)
Total assets less current liabilities
5,673,824 
6,031,421 
Creditors: amounts falling due after more than one year
(3,381,976)
(3,693,739)
Net assets
2,291,848 
2,337,682 
Capital and reserves
Called up share capital
2,700,000 
2,700,000 
Profit and loss account
(408,152)
(362,318)
Shareholders' funds
2,291,848 
2,337,682 
For the year ending 30 November 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
Dr. Saadia Rasul Virk Director Company Registration No. 12302185
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SHOREWAY PROPERTIES LIMITED Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
SHOREWAY PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12302185. The registered office is 30 Clarence Terrace, London,, NW1 4RD, England.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Average number of employees
Average number of employees also include directors.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20.00%
Fixtures & fittings
33.33%
Share Capital Paid
SHOREWAY PROPERTIES LIMITED’s share capital amounting to £2,700,000, initially recorded as unpaid as of 30 November 2022, has been reclassified to paid capital in the financial statements for both 30 November 2022 and 30 November 2023.
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SHOREWAY PROPERTIES LIMITED Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
149,890 
27,000 
176,890 
Additions
- 
1,000 
1,000 
At 30 November 2023
149,890 
28,000 
177,890 
Depreciation
At 1 December 2022
29,978 
18,000 
47,978 
Charge for the year
29,978 
9,333 
39,311 
At 30 November 2023
59,956 
27,333 
87,289 
Net book value
At 30 November 2023
89,934 
667 
90,601 
At 30 November 2022
119,912 
9,000 
128,912 
5
Investment property
2023 
£ 
Fair value at 1 December 2022
7,634,713 
At 30 November 2023
7,634,713 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
25,323 
12,733 
Other debtors
- 
400 
25,323 
13,133 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
6,000 
4,200 
Loans from directors
2,152,332 
1,805,633 
2,158,332 
1,809,833 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
3,381,976 
3,693,739 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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