Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01falseNo description of principal activity11truetruefalse SC587258 2023-02-01 2024-01-31 SC587258 2022-02-01 2023-01-31 SC587258 2024-01-31 SC587258 2023-01-31 SC587258 c:Director1 2023-02-01 2024-01-31 SC587258 c:RegisteredOffice 2023-02-01 2024-01-31 SC587258 d:LeaseholdInvestmentProperty 2024-01-31 SC587258 d:LeaseholdInvestmentProperty 2023-01-31 SC587258 d:CurrentFinancialInstruments 2024-01-31 SC587258 d:CurrentFinancialInstruments 2023-01-31 SC587258 d:Non-currentFinancialInstruments 2024-01-31 SC587258 d:Non-currentFinancialInstruments 2023-01-31 SC587258 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 SC587258 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 SC587258 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 SC587258 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 SC587258 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 SC587258 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 SC587258 d:ShareCapital 2024-01-31 SC587258 d:ShareCapital 2023-01-31 SC587258 d:RetainedEarningsAccumulatedLosses 2024-01-31 SC587258 d:RetainedEarningsAccumulatedLosses 2023-01-31 SC587258 c:OrdinaryShareClass1 2023-02-01 2024-01-31 SC587258 c:OrdinaryShareClass1 2024-01-31 SC587258 c:OrdinaryShareClass1 2023-01-31 SC587258 c:FRS102 2023-02-01 2024-01-31 SC587258 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC587258 c:FullAccounts 2023-02-01 2024-01-31 SC587258 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC587258 2 2023-02-01 2024-01-31 SC587258 6 2023-02-01 2024-01-31 SC587258 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC587258










SHORE TERRACE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

 
SHORE TERRACE LIMITED
 

COMPANY INFORMATION


Director
Miss S Hynd 




Registered number
SC587258



Registered office
Unit 14 City Quay
Dundee

DD1 3JA




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
SHORE TERRACE LIMITED
REGISTERED NUMBER: SC587258

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
£
£

Fixed assets
  

Investments
 4 
324,338
300,693

Investment property
 5 
521,883
521,883

  
846,221
822,576

Current assets
  

Debtors: amounts falling due within one year
 6 
77
119

Bank and cash balances
  
19,768
21,162

  
19,845
21,281

Creditors: amounts falling due within one year
 7 
(684,300)
(693,884)

Net current liabilities
  
 
 
(664,455)
 
 
(672,603)

Total assets less current liabilities
  
181,766
149,973

Creditors: amounts falling due after more than one year
 8 
(102,261)
(102,261)

Provisions for liabilities
  

Deferred tax
  
(5,185)
-

  
 
 
(5,185)
 
 
-

Net assets
  
74,320
47,712


Capital and reserves
  

Called up share capital 
 10 
102
102

Profit and loss account
  
74,218
47,610

  
74,320
47,712


Page 1

 
SHORE TERRACE LIMITED
REGISTERED NUMBER: SC587258

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2024.




Miss S Hynd
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SHORE TERRACE LIMITED
 

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

1.


General information

Shore Terrace Limited is a private company, limited by shares, domiciled in Scotland with the registration number SC587258 . The registered office is Unit 14 City Quay, Dundee, DD1 3JA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

The Company's turnover is from rents and other income receivable from the letting of investment properties within the accounting period stated.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SHORE TERRACE LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
SHORE TERRACE LIMITED
 

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

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 February 2023
300,693


Additions
41,994


Disposals
(30,845)


Revaluations
12,496



At 31 January 2024
324,338





5.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
521,883



At 31 January 2024
521,883

The 2024 valuations were made by the director, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Prepayments and accrued income
77
119

77
119


Page 5

 
SHORE TERRACE LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
480
-

Other taxation and social security
3,745
1,951

Other creditors
677,135
689,653

Accruals and deferred income
2,940
2,280

684,300
693,884



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
102,261
102,261

102,261
102,261


Secured Loans
The bank loan is interest only and secured against the property to which it relates and additionally a bond and floating charge over the company's assets. 


9.


Loans


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
102,261
102,261

102,261
102,261



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



102 (2023 - 102) Ordinary shares of £1.00 each
102
102



Page 6