Company registration number 13508482 (England and Wales)
SHELAH PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SHELAH PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr B C Noakes
Mr L N W Willitts
Mr G N Brinton
(Appointed 6 June 2024)
Company number
13508482
Registered office
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
West Midlands
England
B62 8DY
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
SHELAH PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
SHELAH PROPERTIES LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF SHELAH PROPERTIES LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shelah Properties Limited for the year ended 30 September 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Shelah Properties Limited, as a body, in accordance with the terms of our engagement letter dated 16 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Shelah Properties Limited and state those matters that we have agreed to state to the board of directors of Shelah Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shelah Properties Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Shelah Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shelah Properties Limited. You consider that Shelah Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shelah Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jerroms GCN Limited
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
27 January 2025
SHELAH PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
7,620,254
3,238,875
Investments
4
390
-
0
7,620,644
3,238,875
Current assets
Debtors
5
82,573
75,549
Cash at bank and in hand
67,002
411,142
149,575
486,691
Creditors: amounts falling due within one year
6
(1,001,029)
(3,361,236)
Net current liabilities
(851,454)
(2,874,545)
Total assets less current liabilities
6,769,190
364,330
Creditors: amounts falling due after more than one year
7
(4,000,000)
-
0
Provisions for liabilities
(425,156)
-
0
Net assets
2,344,034
364,330
Capital and reserves
Called up share capital
8
1,000
100
Revaluation reserve
1,275,469
-
0
Profit and loss reserves
1,067,565
364,230
Total equity
2,344,034
364,330
SHELAH PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
Mr B C Noakes
Director
Company registration number 13508482 (England and Wales)
SHELAH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

Shelah Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen, West Midlands, England, B62 8DY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
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.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable 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 tax

Current or deferred taxation assets or 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.

SHELAH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
2
3
Investment property
2024
£
Fair value
At 1 October 2023
3,238,875
Additions
891,379
Transfers
3,490,000
At 30 September 2024
7,620,254
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
390
-
0

On 3rd July 2024 the company acquired 100% of the shareholding in Mediahut Limited by way of a share for share exchange.

 

SHELAH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023
-
Additions
390
At 30 September 2024
390
Carrying amount
At 30 September 2024
390
At 30 September 2023
-
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
74,884
Other debtors
80,607
-
0
Prepayments and accrued income
1,966
665
82,573
75,549
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
351,903
1,220
Amounts owed to group undertakings
3
-
0
Corporation tax
24,127
47,945
Other taxation and social security
-
0
23,203
Other creditors
455,352
3,222,277
Accruals and deferred income
169,644
66,591
1,001,029
3,361,236
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
4,000,000
-
0
SHELAH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary Shares of £1 each
305
100
305
100
B Ordinary Shares of £1 each
305
-
305
-
C Ordinary Shares of £1 each
130
-
130
-
D Ordinary Shares of £1 each
130
-
130
-
E Ordinary Shares of £1 each
130
-
130
-
1,000
100
1,000
100
9
Events after the reporting date

On 30th September 2024 the trade, assets and liabilities of Media Hut Limited were transferred to the parent such that with effect from 1 October 2024 the subsidiary company ceased to trade.

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