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REGISTERED NUMBER: 10878115 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

SHUM DEV PROPERTIES LTD

SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SHUM DEV PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: Dr S Dev
Mrs T R Dev



REGISTERED OFFICE: c/o Michael Heaven & Associates Limited
47 Calthorpe Road
Edgbaston
BIRMINGHAM
West Midlands
B15 1TH



REGISTERED NUMBER: 10878115 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH



BANKERS: NatWest Bank PLC
Finchley Central 48 Ballards Lane
London
N3 2GZ



INCORPORATED: 21st July 2017






SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

ABRIDGED BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,010 -
Investment property 5 1,149,909 1,149,909
1,150,919 1,149,909

CURRENT ASSETS
Debtors 1,919 4,223
Cash at bank 3,667 4,171
5,586 8,394
CREDITORS
Amounts falling due within one year 484,362 462,790
NET CURRENT LIABILITIES (478,776 ) (454,396 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,143

695,513

CREDITORS
Amounts falling due after more than one
year

6

671,005

693,384
NET ASSETS 1,138 2,129

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,038 2,029
SHAREHOLDERS' FUNDS 1,138 2,129

SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 9th September 2024 and were signed on its behalf by:




Dr S Dev - Director



Mrs T R Dev - Director


SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. STATUTORY INFORMATION

Shum Dev Properties Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rents received from residential property letting.

Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.


SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
Additions 1,000
Revaluations 10
At 30th April 2024 1,010
NET BOOK VALUE
At 30th April 2024 1,010

SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30th April 2024 is represented by:
Totals
£   
Valuation in 2024 10
Cost 1,000
1,010

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 1,149,909
NET BOOK VALUE
At 30th April 2024 1,149,909
At 30th April 2023 1,149,909

In the directors' opinion the current carrying value of investment properties is reflective of the current market values.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Mortgages - 363,610

Repayable by instalments
Mortgages 600,672 294,474

SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Mortgages 15,553 7,910

Amounts falling due between one and two years:
Mortgages 16,325 8,260

Amounts falling due between two and five years:
Mortgages 54,008 27,040

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgages - 363,610

Repayable by instalments
Mortgages 600,672 294,474

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 600,672 658,083

There are fixed charges over the company in relation to the mortgages including a charge against the investment properties.

SHUM DEV PROPERTIES LTD (REGISTERED NUMBER: 10878115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. RELATED PARTY DISCLOSURES

As at the year end the amount due to the directors totalled £426,284.

There was an amount of £40,182 due to a company with the same directors.