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REGISTERED NUMBER: 14261788 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SHORIEL INVESTMENTS 3 LIMITED

SHORIEL INVESTMENTS 3 LIMITED (REGISTERED NUMBER: 14261788)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SHORIEL INVESTMENTS 3 LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr S Elroy
Mr O Elroy





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 14261788 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

SHORIEL INVESTMENTS 3 LIMITED (REGISTERED NUMBER: 14261788)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 799,054 484,524

CURRENT ASSETS
Debtors 111,454 2,700
Cash at bank and in hand 55,980 10,449
167,434 13,149
CREDITORS
Amounts falling due within one year 986,241 552,103
NET CURRENT LIABILITIES (818,807 ) (538,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,753

)

(54,430

)

CREDITORS
Amounts falling due after more than one year 5 224,740 -
NET LIABILITIES (244,493 ) (54,430 )

CAPITAL AND RESERVES
Called up share capital 99 99
Fair value reserve (85,043 ) -
Retained earnings (159,549 ) (54,529 )
SHAREHOLDERS' FUNDS (244,493 ) (54,430 )

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 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.

SHORIEL INVESTMENTS 3 LIMITED (REGISTERED NUMBER: 14261788)

ABRIDGED BALANCE SHEET - continued
31 March 2024


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 31 March 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 8 October 2024 and were signed on its behalf by:





Mr S Elroy - Director


SHORIEL INVESTMENTS 3 LIMITED (REGISTERED NUMBER: 14261788)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Shoriel Investments 3 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 as modified by the revaluation of certain assets.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

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

Turnover
Turnover comprises rental and service charge income, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. 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.

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.

SHORIEL INVESTMENTS 3 LIMITED (REGISTERED NUMBER: 14261788)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 484,524
Additions 427,921
Revaluations (113,391 )
At 31 March 2024 799,054
NET BOOK VALUE
At 31 March 2024 799,054
At 31 March 2023 484,524

Investment property was valued on an open market basis on 31 March 2024 by the director.


5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans 224,740 -

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 224,740 -

Bank loans are secured by way of a fixed charge over the properties held by the company.

SHORIEL INVESTMENTS 3 LIMITED (REGISTERED NUMBER: 14261788)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £607,140 (2023: £182,619) to companies under common control and paid interest of £9,563 (2023: £3,833) on the loans.

At the balance sheet date, the company was owed £10,189 (2023: £nil) by companies under common control.

At the balance sheet date, the company owed £373,678 (2023: £367,802) to the directors and during the period paid interest £40,037 (2023: £20,819) to the directors.