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Company Registration No. 06513605 (England and Wales)
Shine Management Consultants Limited Unaudited accounts for the year ended 29 February 2024
Shine Management Consultants Limited Unaudited accounts Contents
Page
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Shine Management Consultants Limited Company Information for the year ended 29 February 2024
Director
Peter Martin
Company Number
06513605 (England and Wales)
Registered Office
727-729 High Road London N12 0BP England
Accountants
Accountsforme Ltd Iveco House The Junction Station Road Watford Hertfordshire WD17 1ET
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Shine Management Consultants Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
3,035,000 
3,035,000 
Current assets
Debtors
125,615 
240 
Cash at bank and in hand
11 
99 
125,626 
339 
Creditors: amounts falling due within one year
(129,979)
(154,882)
Net current liabilities
(4,353)
(154,543)
Total assets less current liabilities
3,030,647 
2,880,457 
Creditors: amounts falling due after more than one year
(2,690,778)
(2,557,657)
Provisions for liabilities
Deferred tax
(14,011)
(14,011)
Net assets
325,858 
308,789 
Capital and reserves
Called up share capital
100 
100 
Fair value reserve
73,748 
73,748 
Profit and loss account
252,010 
234,941 
Shareholders' funds
325,858 
308,789 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
Peter Martin Director Company Registration No. 06513605
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Shine Management Consultants Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Shine Management Consultants Limited is a private company, limited by shares, registered in England and Wales, registration number 06513605. The registered office is 727-729 High Road, London, N12 0BP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Presentation currency
The accounts are presented in sterling, which is the functional currency of the entity
Investment property
Investment properties are included at their fair value. Changes in fair value are recognised in the profit and loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Deferred tax assets and liabilities are not discounted.
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Shine Management Consultants Limited Notes to the Accounts for the year ended 29 February 2024
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
4
Investment property
2024 
£ 
Fair value at 1 March 2023
3,035,000 
At 29 February 2024
3,035,000 
The director is of the opinion that there is no material difference in the fair value of the properties as at 29 February 2024 from the values stated at 28 February 2023. Close family members of P Martin, director, acquired mortgages in their name for the purchase of the above properties with various providers. The mortgages continue to be in their name and their assignment has not been agreed with the mortgage company. Therefore, the properties are encumbered since the mortgage company has the first and only charges against them directly.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,906 
240 
Other debtors
120,709 
- 
125,615 
240 
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Shine Management Consultants Limited Notes to the Accounts for the year ended 29 February 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,655 
10,512 
Trade creditors
85,035 
75,284 
Taxes and social security
5,183 
9,835 
Other creditors
29,586 
17,827 
Accruals
3,520 
15,384 
Deferred income
- 
26,040 
129,979 
154,882 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,917 
22,384 
Other creditors
2,028,658 
1,841,607 
Loans from directors
639,203 
693,666 
2,690,778 
2,557,657 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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