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REGISTERED NUMBER: 08512894 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SHINY HOMES LTD

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


SHINY HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: C S Ringer





REGISTERED OFFICE: c/o ICRTouch
Embassy Way
Sandown
Isle of Wight
PO36 0JP





REGISTERED NUMBER: 08512894 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,490,000 2,320,000

CURRENT ASSETS
Cash at bank and in hand 38,971 18,398

CREDITORS
Amounts falling due within one year 5 1,882,097 1,858,319
NET CURRENT LIABILITIES (1,843,126 ) (1,839,921 )
TOTAL ASSETS LESS CURRENT LIABILITIES 646,874 480,079

PROVISIONS FOR LIABILITIES 87,087 55,067
NET ASSETS 559,787 425,012

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 559,786 425,011
SHAREHOLDERS' FUNDS 559,787 425,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

BALANCE SHEET - continued
31 MAY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2025 and were signed by:





C S Ringer - Director


SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Shiny Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SHINY HOMES LTD (REGISTERED NUMBER: 08512894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,320,000
Additions 41,918
Revaluations 128,082
At 31 May 2024 2,490,000
NET BOOK VALUE
At 31 May 2024 2,490,000
At 31 May 2023 2,320,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2016 (62,162 )
Valuation in 2017 1,174
Valuation in 2018 10,454
Valuation in 2019 36,379
Valuation in 2020 (2,622 )
Valuation in 2021 267,842
Valuation in 2022 94,631
Valuation in 2023 (83,223 )
Valuation in 2024 128,082
Cost 2,099,445
2,490,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,099,445 2,057,527
Aggregate depreciation (249,118 ) (213,369 )

The investment properties were valued on an open market basis on 31 May 2024 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 11,407 7,943
Other creditors 1,870,690 1,850,376
1,882,097 1,858,319