Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292true2023-03-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00818632 2023-03-01 2024-02-29 00818632 2022-03-01 2023-02-28 00818632 2024-02-29 00818632 2023-02-28 00818632 c:Director1 2023-03-01 2024-02-29 00818632 d:FurnitureFittings 2023-03-01 2024-02-29 00818632 d:FurnitureFittings 2024-02-29 00818632 d:FurnitureFittings 2023-02-28 00818632 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00818632 d:FreeholdInvestmentProperty 2024-02-29 00818632 d:FreeholdInvestmentProperty 2023-02-28 00818632 d:CurrentFinancialInstruments 2024-02-29 00818632 d:CurrentFinancialInstruments 2023-02-28 00818632 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 00818632 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00818632 d:ShareCapital 2024-02-29 00818632 d:ShareCapital 2023-02-28 00818632 d:OtherMiscellaneousReserve 2023-03-01 2024-02-29 00818632 d:OtherMiscellaneousReserve 2024-02-29 00818632 d:OtherMiscellaneousReserve 2023-02-28 00818632 d:RetainedEarningsAccumulatedLosses 2024-02-29 00818632 d:RetainedEarningsAccumulatedLosses 2023-02-28 00818632 c:FRS102 2023-03-01 2024-02-29 00818632 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 00818632 c:FullAccounts 2023-03-01 2024-02-29 00818632 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 00818632 2 2023-03-01 2024-02-29 00818632 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 00818632









B & J SHARMAN PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
B & J SHARMAN PROPERTIES LIMITED
REGISTERED NUMBER: 00818632

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5
6

Investment property
 5 
1,952,000
1,952,000

  
1,952,005
1,952,006

Current assets
  

Debtors: amounts falling due within one year
 6 
96,574
83,923

Bank and cash balances
  
190,478
82,106

  
287,052
166,029

Creditors: amounts falling due within one year
 7 
(348,376)
(294,703)

Net current liabilities
  
 
 
(61,324)
 
 
(128,674)

Total assets less current liabilities
  
1,890,681
1,823,332

Provisions for liabilities
  

Deferred tax
  
(389,312)
(389,312)

  
 
 
(389,312)
 
 
(389,312)

Net assets
  
1,501,369
1,434,020


Capital and reserves
  

Called up share capital 
  
99
99

Other reserves
 8 
1,167,935
1,167,935

Profit and loss account
 8 
333,335
265,986

  
1,501,369
1,434,020


Page 1

 
B & J SHARMAN PROPERTIES LIMITED
REGISTERED NUMBER: 00818632
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 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 his 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 14 November 2024.




D Sharman
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
B & J SHARMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

B & J Sharman Properties Limited is a private company limited by shares and is incorporated in England and Wales.  The address of its registered office is 5 Mayfield Gardens, Hendon, London, NW4 2PY. 

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

Functional and presentational currency

The company's functional and presentational currency is GBP.

 
2.3

Revenue

Revenue represents net rent receivable. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
B & J SHARMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings & equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Freehold 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

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term 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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

Page 4

 
B & J SHARMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees



The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets







Fixtures, fittings & equipment

£



Cost


At 1 March 2023
2,322



At 29 February 2024

2,322



Depreciation


At 1 March 2023
2,316


Charge for the year on owned assets
1



At 29 February 2024

2,317



Net book value



At 29 February 2024
5



At 28 February 2023
6

Page 5

 
B & J SHARMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Investment property





Freehold investment properties

£



Valuation


At 1 March 2023
1,952,000



At 29 February 2024
1,952,000

The valuation of the freehold investment properties was made by the Director, on an open market value for existing use basis.





6.


Debtors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£


Trade debtors
16,006
12,358

Amounts owed by group undertakings
75,350
71,565

Prepayments and accrued income
5,218
-

96,574
83,923



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
3
3

Trade creditors
5,941
6,540

Amounts owed to group undertakings
184,200
150,000

Corporation tax
-
274

Other creditors
109,815
99,552

Accruals and deferred income
48,417
38,334

348,376
294,703


Page 6

 
B & J SHARMAN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Reserves

Other reserves

This comprises the unrealised surplus on revaluation of land and buildings net of deferred taxation.


9.


Related party transactions

The Company has taken advantage of the exemptions provided by "Financial Reporting Standard 102" not to disclose transactions with the entities wholly owned within the group.
The Company has not entered into any material transactions with related parties that have not been conducted under normal market conditions.


10.


Controlling party

The ultimate parent company is DADS Estates Limited, a company incorporated in England, which is controlled by D Sharman.
The address of DADS Estates Limited's registered office is 5 Mayfield Gardens, Hendon, London, NW4 2PY.
 
The company, and the Group in which it operates, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
Page 7