REGISTERED NUMBER: |
SHIBDEN ESTATE COMPANY LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 APRIL 2024 |
REGISTERED NUMBER: |
SHIBDEN ESTATE COMPANY LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 APRIL 2024 |
SHIBDEN ESTATE COMPANY LIMITED (REGISTERED NUMBER: 04201309) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SHIBDEN ESTATE COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Sidings House |
Sidings Court |
Lakeside |
Doncaster |
South Yorkshire |
DN4 5NU |
SHIBDEN ESTATE COMPANY LIMITED (REGISTERED NUMBER: 04201309) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 6 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SHIBDEN ESTATE COMPANY LIMITED (REGISTERED NUMBER: 04201309) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Shibden Estate Company Limited (registered number 04201309) is a private company limited by share capital incorporated in England and Wales. |
The address of its registered office and principal place of business is: |
Swalesmoor Farm |
Swalesmoor Road, |
Halifax |
West Yorkshire, |
HX3 6UF |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
The following principal accounting policies have been applied: |
Investment property |
Investment property is carried at fair value determined annually by the directors given their knowledge of the industry and market prices. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income. |
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. |
SHIBDEN ESTATE COMPANY LIMITED (REGISTERED NUMBER: 04201309) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Provisions for liabilities |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the balance sheet. |
Going concern |
The directors have received assurances from other group company members of ongoing financial support for a period of at least 12 months from the date of approval of these financial statements and therefore have reasonable expectations that the company has adequate resources to continue in operation for the foreseeable future. Thus the going concern basis of accounting and preparing annual financial statements has been adopted. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
The 2024 valuations were made by the Directors, on an open market existing use basis. |
If the investment properties had been accounted for under historic cost accounting rules, the properties would have been measured at £60,000 (2023: £60,000). |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
SHIBDEN ESTATE COMPANY LIMITED (REGISTERED NUMBER: 04201309) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
6. | RESERVES |
Profit & loss account |
Profit and loss account reserve represents accumulated distributable profits and losses. Included within this balance is an undistributable reserve of £306,360 (2023: £306,360) relating to the revaluation of the investment properties held within the company. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent company is Leo Sawrij Limited, The ultimate parent company is Leo Group Family Holdings Limited, a company registered in Jersey. The ultimate controlling party is Mr D S Sawrij. |