Shogun Properties Ltd SC218138 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is The principal activity of the company during the period was Property investors. Digita Accounts Production Advanced 6.30.9574.0 true SC218138 2023-05-01 2024-04-30 SC218138 2024-04-30 SC218138 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC218138 core:ShareCapital 2024-04-30 SC218138 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-04-30 SC218138 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC218138 bus:SmallEntities 2023-05-01 2024-04-30 SC218138 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC218138 bus:FilletedAccounts 2023-05-01 2024-04-30 SC218138 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC218138 bus:RegisteredOffice 2023-05-01 2024-04-30 SC218138 bus:Director1 2023-05-01 2024-04-30 SC218138 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC218138 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC218138 countries:Scotland 2023-05-01 2024-04-30 SC218138 2023-04-30 SC218138 2022-05-01 2023-04-30 SC218138 2023-04-30 SC218138 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC218138 core:ShareCapital 2023-04-30 SC218138 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC218138 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registration number: SC218138

Shogun Properties Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Shogun Properties Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Shogun Properties Ltd

(Registration number: SC218138)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

114,999

114,999

Other financial assets

5

86,431

78,482

 

201,430

193,481

Current assets

 

Cash at bank and in hand

 

10,861

10,090

Creditors: Amounts falling due within one year

6

(16,350)

(17,516)

Net current liabilities

 

(5,489)

(7,426)

Total assets less current liabilities

 

195,941

186,055

Provisions for liabilities

(21,979)

(20,546)

Net assets

 

173,962

165,509

Capital and reserves

 

Called up share capital

1

1

Retained earnings

173,961

165,508

Shareholders' funds

 

173,962

165,509

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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 22 January 2025
 

 

Shogun Properties Ltd

(Registration number: SC218138)
Statement of Financial Position as at 30 April 2024

.........................................
Mr Steven Wicks
Director

 

Shogun Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
1 George Square
Castle Brae
Dunfermline
KY11 8QF

The principal place of business is:
36 Priorwood Drive
Dunfermline
Fife
KY11 8FG

2

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

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.

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
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 0 (2023 - 1).

4

Investment properties

2024
£

At 1 May

114,999

 

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.

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

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

Carrying amount

At 30 April 2024

86,431

86,431

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

455

91

Accruals and deferred income

1,890

1,888

Other creditors

14,005

15,537

16,350

17,516

The Royal Bank of Scotland holds a 1st Standard Security over the property.

7

Reserves

 

Shogun Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024

2023

£

£

Profit and loss account - Distributable

95,229

92,883

Revaluation of investment properties - Undistributable

74,785

74,785

Revaluation on investments - Undistributable

25,927

18,386

Deferred tax - Undistributable

(21,979)

(20,546)

173,962

165,508

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £6,137.81) per each Ordinary

-

6,138