Registration number:
Shogun Properties Ltd
for the Year Ended 30 April 2024
Shogun Properties Ltd
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Shogun Properties Ltd
(Registration number: SC218138)
Statement of Financial Position as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Other financial assets |
86,431 |
78,482 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
Shogun Properties Ltd
(Registration number: SC218138)
Statement of Financial Position as at 30 April 2024
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Shogun Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The Company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
The principal place of business is:
36 Priorwood Drive
Dunfermline
Fife
KY11 8FG
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Shogun Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Investment property
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit and 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.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Investment properties |
2024 |
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At 1 May |
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Shogun Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Investment property is included at fair value at each reporting date and any gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The property was revalued by Shepherds Chartered Surveyors in the year to 30th April 2017.
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 May 2023 |
78,482 |
78,482 |
Fair value adjustments |
7,542 |
7,542 |
Additions |
407 |
407 |
At 30 April 2024 |
86,431 |
86,431 |
Impairment |
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Carrying amount |
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At 30 April 2024 |
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86,431 |
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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The Royal Bank of Scotland holds a 1st Standard Security over the property.
Reserves |
Shogun Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
2024 |
2023 |
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£ |
£ |
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Profit and loss account - Distributable |
95,229 |
92,883 |
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Revaluation of investment properties - Undistributable |
74,785 |
74,785 |
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Revaluation on investments - Undistributable |
25,927 |
18,386 |
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Deferred tax - Undistributable |
(21,979) |
(20,546) |
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173,962 |
165,508 |
Dividends |
Interim dividends paid
2024 |
2023 |
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Interim dividend of £Nil (2023 - £ |
- |
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