Shirlcar Properties Limited 00828022 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property investment. The company did not trade in the year. Digita Accounts Production Advanced 6.30.9574.0 true false true 00828022 2023-04-01 2024-03-31 00828022 2024-03-31 00828022 bus:OrdinaryShareClass1 2024-03-31 00828022 core:CurrentFinancialInstruments 2024-03-31 00828022 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00828022 core:FurnitureFittingsToolsEquipment 2024-03-31 00828022 bus:SmallEntities 2023-04-01 2024-03-31 00828022 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00828022 bus:FilletedAccounts 2023-04-01 2024-03-31 00828022 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00828022 bus:RegisteredOffice 2023-04-01 2024-03-31 00828022 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 00828022 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00828022 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00828022 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 00828022 countries:EnglandWales 2023-04-01 2024-03-31 00828022 2023-03-31 00828022 core:CostValuation 2023-03-31 00828022 core:FurnitureFittingsToolsEquipment 2023-03-31 00828022 2022-04-01 2023-03-31 00828022 2023-03-31 00828022 bus:OrdinaryShareClass1 2023-03-31 00828022 core:CurrentFinancialInstruments 2023-03-31 00828022 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00828022

Shirlcar Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Shirlcar Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Shirlcar Properties Limited

(Registration number: 00828022)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

5

200

200

Current assets

 

Debtors

6

2,116,420

2,118,100

Creditors: Amounts falling due within one year

7

(832,279)

(833,119)

Net current assets

 

1,284,141

1,284,981

Net assets

 

1,284,341

1,285,181

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

1,284,241

1,285,081

Shareholders' funds

 

1,284,341

1,285,181

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 November 2024 and signed on its behalf by:
 

.........................................
S R Byre
Company secretary and director

 

Shirlcar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lawford House
Albert Place
London
N3 1QA
England

The principal place of business is:
58 Meadway
Hampstead Garden Suburb
London
NW11 6QE

These financial statements were authorised for issue by the Board on 4 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£), which is also the company's functional currency. Monetary amounts in these financial statements are rounded to the nearest £.

Group accounts not prepared

The company is a parent company subject to the small companies regime. The company and its subsidiary company comprise a small group. Therefore the company is not required to prepare group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Shirlcar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings & equipment

20% Straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Shirlcar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

3,461

3,461

Disposals

(3,461)

(3,461)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

3,461

3,461

Eliminated on disposal

(3,461)

(3,461)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

 

Shirlcar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 April 2023

200

Provision

Carrying amount

At 31 March 2024

200

At 31 March 2023

200

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

1,920,166

1,920,166

Other debtors

 

196,254

197,934

   

2,116,420

2,118,100

 

Shirlcar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

840

1,680

Other creditors

831,439

831,439

832,279

833,119

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       

9

Related party transactions

Included within other debtors is the total amount of £2,116,420 (2023: £2,118,100) due from companies in which the shareholders have a material interest.

Included within other creditors is the total amount of £829,238 (2023: £829,238) due to companies in which the shareholders have a material interest.

Included within other creditors is the total amount £199 (2023: £199) owed to the directors. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding the repayment of the loan.