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Registered number: 5244280
Shiv Property Management Limited
Financial Statements
For The Year Ended 30 November 2024
APR Accountancy Services
Shan House
80-86 North Street
Keighley
West Yorkshire
BD21 3AF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 5244280
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,016,222 1,767,266
Investments 5 16,221 16,221
2,032,443 1,783,487
CURRENT ASSETS
Debtors 6 2,418 19,443
Cash at bank and in hand 4,703 7,011
7,121 26,454
Creditors: Amounts Falling Due Within One Year 7 (173,758 ) (224,205 )
NET CURRENT ASSETS (LIABILITIES) (166,637 ) (197,751 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,865,806 1,585,736
Creditors: Amounts Falling Due After More Than One Year 8 (419,112 ) (421,373 )
NET ASSETS 1,446,694 1,164,363
CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 1,123,271 898,271
Profit and Loss Account 323,421 266,090
SHAREHOLDERS' FUNDS 1,446,694 1,164,363
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ramith Abrol
Director
20/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shiv Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 5244280 . The registered office is Eden Chapel Building, Chapel Lane, Keighley, BD21 2AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
The company's turnover consists primarily of commercial and residential property rental income, and from building projects.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation is provided on freehold property as the Director deems the residual value will be in excess of the cost
Plant & Machinery 25% RB
Motor Vehicles 20% RB
Fixtures & Fittings 25% RB
Computer Equipment 25% RB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2023 1,750,000 15,286 - 25,383
Additions 225,000 3,105 31,995 -
As at 30 November 2024 1,975,000 18,391 31,995 25,383
Depreciation
As at 1 December 2023 - 3,822 - 20,777
Provided during the period - 3,637 6,399 1,152
As at 30 November 2024 - 7,459 6,399 21,929
Net Book Value
As at 30 November 2024 1,975,000 10,932 25,596 3,454
As at 1 December 2023 1,750,000 11,464 - 4,606
Computer Equipment Total
£ £
Cost
As at 1 December 2023 6,615 1,797,284
Additions 457 260,557
As at 30 November 2024 7,072 2,057,841
Depreciation
As at 1 December 2023 5,419 30,018
Provided during the period 413 11,601
As at 30 November 2024 5,832 41,619
Net Book Value
As at 30 November 2024 1,240 2,016,222
As at 1 December 2023 1,196 1,767,266
5. Investments
Unlisted
£
Cost
As at 1 December 2023 16,221
As at 30 November 2024 16,221
Provision
As at 1 December 2023 -
As at 30 November 2024 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 November 2024 16,221
As at 1 December 2023 16,221
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 11,735
Prepayments and accrued income 1,358 7,708
Other debtors 200 -
VAT 860 -
2,418 19,443
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,512 -
Trade creditors 8,639 87,730
Bank loans and overdrafts 41,400 41,400
Corporation tax 59,593 50,812
Other taxes and social security 320 -
VAT - 11,187
Other creditors 28,174 26,364
Accruals and deferred income 878 585
Director's loan account 30,242 6,127
173,758 224,205
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,121 -
Other loans 72,600 80,600
Bank loans 319,391 340,773
419,112 421,373
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,512 -
Later than one year and not later than five years 27,121 -
31,633 -
31,633 -
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Revaluation Reserve
£
As at 1 December 2023 898,271
Revaluation reserve 225,000
As at 30 November 2024 1,123,271
12. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of his ownership of 100% of the issued share capital in the company.
Page 6