REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
South Shoreditch Development Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
South Shoreditch Development Ltd |
South Shoreditch Development Ltd (Registered number: 04950343) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountant | 7 |
South Shoreditch Development Ltd |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
Statutory Auditors |
Orion House |
5 Upper St Martin's Lane |
London |
WC2H 9EA |
South Shoreditch Development Ltd (Registered number: 04950343) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
South Shoreditch Development Ltd (Registered number: 04950343) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the director and authorised for issue on |
South Shoreditch Development Ltd (Registered number: 04950343) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
South Shoreditch Development Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The functional currency of the company is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates. |
Turnover |
Turnover represents sales of developed properties recognised based on the level of completion of each contract. Rental income receivable is included in turnover on a straight line basis over the term of the lease.Turnover is stated exclusive of Value Added Tax. |
Tangible fixed assets |
Plant and machinery etc | - |
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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
South Shoreditch Development Ltd (Registered number: 04950343) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | 100,000 |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2009 | 503,859 |
Valuation in 2011 | (120,000 | ) |
Valuation in 2013 | 390,680 |
Valuation in 2014 | 340,000 |
Valuation in 2015 | 50,000 |
Valuation in 2016 | 125,000 |
Valuation in 2021 | 240,000 |
Valuation in 2024 | 100,000 |
Cost | 1,310,461 |
2,940,000 |
South Shoreditch Development Ltd (Registered number: 04950343) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INVESTMENT PROPERTY - continued |
If Investment Properties had not been revalued have would have been included at the following historical cost: |
30.4.24 | 30.4.23 |
£ | £ |
Cost | 1,310,461 | 1,310,461 |
Investment Properties were valued on an their fair values basis on 30 April 2021 by the director . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank Loans | 950,000 | 950,000 |
The loans are secured by Legal charges over the Freehold Investment Properties and a debenture over all of the company assets. |
South Shoreditch Development Ltd |
Report of the Accountant to the Director of |
South Shoreditch Development Ltd |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2024 set out on pages three to nine and you consider that the company is exempt from an audit. |
In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me. |
Statutory Auditors |
Orion House |
5 Upper St Martin's Lane |
London |
WC2H 9EA |
Date: ............................................. |