Registered number
13001746
SHALU PROPERTIES LTD
Filleted Accounts
30 November 2023
SHALU PROPERTIES LTD
Registered number: 13001746
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 1,084,847 535,149
Current assets
Cash at bank and in hand 22,129 49,755
Creditors: amounts falling due within one year 4 (526,848) (262,147)
Net current liabilities (504,719) (212,392)
Total assets less current liabilities 580,128 322,757
Creditors: amounts falling due after more than one year 5 (367,785) (135,970)
Net assets 212,343 186,787
Capital and reserves
Called up share capital 2 2
Profit and loss account 212,341 186,785
Shareholders' funds 212,343 186,787
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Priyashalini Muralitharan
Director
Approved by the board on 30 August 2024
SHALU PROPERTIES LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 December 2022 535,149
Additions 549,698
At 30 November 2023 1,084,847
2023 2020
£ £
Freehold property 549,698 1,418,660
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 14,179 2,336
Corporation tax 12,101 9,802
Other creditors 500,568 250,009
526,848 262,147
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 367,785 135,970
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 367,785 135,970
The bank loans are secured against assets of the company. The company have loans with The Mortgage Works and Nottingham Building Socity of £367785 as of Nov 2023.
7 Other information
SHALU PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
27 Ridham Avenue
Kemsley
Sittingbourne
England
ME10 2SH
SHALU PROPERTIES LTD 13001746 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts October 2023 release 2 Priyashalini Muralitharan No description of principal activity 13001746 2021-12-01 2022-11-30 13001746 core:WithinOneYear 2022-11-30 13001746 core:AfterOneYear 2022-11-30 13001746 core:ShareCapital 2022-11-30 13001746 core:RetainedEarningsAccumulatedLosses 2022-11-30 13001746 2022-12-01 2023-11-30 13001746 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13001746 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 13001746 bus:Director40 2022-12-01 2023-11-30 13001746 1 2022-12-01 2023-11-30 13001746 2 2022-12-01 2023-11-30 13001746 countries:England 2022-12-01 2023-11-30 13001746 bus:FRS102 2022-12-01 2023-11-30 13001746 bus:FullAccounts 2022-12-01 2023-11-30 13001746 2023-11-30 13001746 core:WithinOneYear 2023-11-30 13001746 core:AfterOneYear 2023-11-30 13001746 core:ShareCapital 2023-11-30 13001746 core:RetainedEarningsAccumulatedLosses 2023-11-30 13001746 core:AdditionsToInvestments 2023-11-30 13001746 2022-11-30 iso4217:GBP xbrli:pure