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REGISTERED NUMBER: 11764621 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SHELA INVEST LIMITED

SHELA INVEST LIMITED (REGISTERED NUMBER: 11764621)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SHELA INVEST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A Jodzichski





REGISTERED OFFICE: 4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





REGISTERED NUMBER: 11764621 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

SHELA INVEST LIMITED (REGISTERED NUMBER: 11764621)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 500,758 374,381

CURRENT ASSETS
Debtors 5 12,654 11,504
Cash at bank 526 51,323
13,180 62,827
CREDITORS
Amounts falling due within one year 6 345,188 291,430
NET CURRENT LIABILITIES (332,008 ) (228,603 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,750

145,778

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 168,650 145,678
168,750 145,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 24 September 2024 and were signed by:





A Jodzichski - Director


SHELA INVEST LIMITED (REGISTERED NUMBER: 11764621)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Shela Invest 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are included in the balance sheet at their market value. Any surplus on revaluation is transferred to the investment property revaluation reserve. Any deficit is deducted from the investment property revaluation reserve, except for permanent diminution in value, which is charged to the profit and loss account. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

SHELA INVEST LIMITED (REGISTERED NUMBER: 11764621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 374,381
Additions 126,437
Disposals (60 )
At 31 March 2024 500,758
NET BOOK VALUE
At 31 March 2024 500,758
At 31 March 2023 374,381

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,654 11,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,814 33,730
Other creditors 342,374 257,700
345,188 291,430

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the company owed the directors Mr A Jodzichski £258,000 (2023 - £190,000. This loan is unsecured, non interest bearing and has no repayment terms.

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £79,000 (2023: £65,000) to ALGOnet Solutions Ltd, a company under common control. The loan bears no interest and there are no repayment terms.