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REGISTERED NUMBER: 05718260 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Shivas Property Company Limited

Shivas Property Company Limited (Registered number: 05718260)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shivas Property Company Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: J V Patel





SECRETARY: Mrs D Patel





REGISTERED OFFICE: 105a Albemarle Road
Beckenham
Kent
BR3 5HS





REGISTERED NUMBER: 05718260 (England and Wales)





ACCOUNTANTS: PHS Accountants Ltd
105a Albemarle Road
Beckenham
Kent
BR3 5HS

Shivas Property Company Limited (Registered number: 05718260)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 4,000,000 4,000,000

CURRENT ASSETS
Debtors 6 83,749 52,388
Cash at bank 160,512 55,988
244,261 108,376
CREDITORS
Amounts falling due within one year 7 1,570,872 1,601,257
NET CURRENT LIABILITIES (1,326,611 ) (1,492,881 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,673,389

2,507,119

CREDITORS
Amounts falling due after more than one
year

8

(20,000

)

(29,953

)

PROVISIONS FOR LIABILITIES (84,886 ) (84,886 )
NET ASSETS 2,568,503 2,392,280

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 909,599 909,599
Retained earnings 10 1,658,804 1,482,581
SHAREHOLDERS' FUNDS 2,568,503 2,392,280

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Shivas Property Company Limited (Registered number: 05718260)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





J V Patel - Director


Shivas Property Company Limited (Registered number: 05718260)

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

1. STATUTORY INFORMATION

Shivas Property Company 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rent receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Shivas Property Company Limited (Registered number: 05718260)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 4,000,000
NET BOOK VALUE
At 31 August 2023 4,000,000
At 31 August 2022 4,000,000

The investment property has been valued by the director on an open market existing use basis.
The historic cost of the investment property amount to £3,005,515.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 83,749 52,388

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 10,000 45,447
Trade creditors 13,549 20,188
Taxation and social security 34,236 20,015
Other creditors 1,513,087 1,515,607
1,570,872 1,601,257

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 20,000 29,953

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 30,000 75,400

Shivas Property Company Limited (Registered number: 05718260)

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

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2022 1,482,581 909,599 2,392,180
Profit for the year 176,223 176,223
At 31 August 2023 1,658,804 909,599 2,568,403