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REGISTERED NUMBER: 07964647 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SHEVA PROPERTY LTD

SHEVA PROPERTY LTD (REGISTERED NUMBER: 07964647)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SHEVA PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: N J Weiss





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 07964647 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

SHEVA PROPERTY LTD (REGISTERED NUMBER: 07964647)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Investment property 4 150,000 150,000

CURRENT ASSETS
Debtors 5 49,990 66,217
Cash at bank 4,732 5,442
54,722 71,659
CREDITORS
Amounts falling due within one year 6 (294,846 ) (288,407 )
NET CURRENT LIABILITIES (240,124 ) (216,748 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(90,124

)

(66,748

)

CREDITORS
Amounts falling due after more than one
year

7

(255,148

)

(265,147

)
NET LIABILITIES (345,272 ) (331,895 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 (99,000 ) (99,000 )
Retained earnings 11 (246,273 ) (232,896 )
SHAREHOLDERS' FUNDS (345,272 ) (331,895 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHEVA PROPERTY LTD (REGISTERED NUMBER: 07964647)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





N J Weiss - Director


SHEVA PROPERTY LTD (REGISTERED NUMBER: 07964647)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Sheva Property Ltd 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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

SHEVA PROPERTY LTD (REGISTERED NUMBER: 07964647)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 150,000
NET BOOK VALUE
At 29 February 2024 150,000
At 28 February 2023 150,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2023 (99,000 )
Cost 249,000
150,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 49,990 66,217

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 2,516 1,407
Other creditors 292,330 287,000
294,846 288,407

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other creditors 255,148 265,147

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 23,333 33,332

8. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Other loans 81,135 81,135

SHEVA PROPERTY LTD (REGISTERED NUMBER: 07964647)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. LOANS - continued
29.2.24 28.2.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 231,815 231,815

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 23,333 33,332

Under the bank loan, £50,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Other loans 336,283 346,282

Other loans are secured by way of first legal charge on the company's investment properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 (232,896 ) (99,000 ) (331,896 )
Deficit for the year (13,377 ) (13,377 )
At 29 February 2024 (246,273 ) (99,000 ) (345,273 )

12. ULTIMATE CONTROLLING PARTY

Ultimate controlling party is Mrs Shevi Weiss