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REGISTERED NUMBER: 02817998 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SHETSON PROPERTY DEVELOPMENTS LIMITED

SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHETSON PROPERTY DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs S Singh
Mr S Singh





SECRETARIES: Mr S Singh
T Maicha





REGISTERED OFFICE: Unit 2 Westpoint
328 Bath Road
Hounslow
TW4 7HW





REGISTERED NUMBER: 02817998 (England and Wales)





ACCOUNTANTS: Arithma LLP
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,225 60,684
Investment property 5 21,800,000 24,350,000
21,874,225 24,410,684

CURRENT ASSETS
Stocks 186,812 186,812
Debtors 6 5,976,622 6,767,312
Cash at bank 53,997 55,390
6,217,431 7,009,514
CREDITORS
Amounts falling due within one year 7 1,242,631 2,031,345
NET CURRENT ASSETS 4,974,800 4,978,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,849,025

29,388,853

CREDITORS
Amounts falling due after more than one
year

8

(11,585,494

)

(11,971,372

)

PROVISIONS FOR LIABILITIES (1,558,727 ) (1,987,680 )
NET ASSETS 13,704,804 15,429,801

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Fair value reserve 9 7,687,653 9,816,700
Retained earnings 9 6,014,151 5,610,101
SHAREHOLDERS' FUNDS 13,704,804 15,429,801

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

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

The directors acknowledge their 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.

SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:





Mr S Singh - Director


SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

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


1. STATUTORY INFORMATION

Shetson Property Developments Limited 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 represents net invoiced rents, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 5 (2023 - 5 ) .

SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 51,188 140,091 17,502 208,781
Additions - 41,603 - 41,603
Disposals - (21,663 ) - (21,663 )
At 31 March 2024 51,188 160,031 17,502 228,721
DEPRECIATION
At 1 April 2023 49,064 85,812 13,221 148,097
Charge for year 531 23,141 1,070 24,742
Eliminated on disposal - (18,343 ) - (18,343 )
At 31 March 2024 49,595 90,610 14,291 154,496
NET BOOK VALUE
At 31 March 2024 1,593 69,421 3,211 74,225
At 31 March 2023 2,124 54,279 4,281 60,684

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 24,350,000
Additions 8,000
Revaluations (2,558,000 )
At 31 March 2024 21,800,000
NET BOOK VALUE
At 31 March 2024 21,800,000
At 31 March 2023 24,350,000

The investment properties were valued by the directors on an open market value basis as of 31 March 2024.

SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 1,462,670
Valuation in 2015 (361,400 )
Valuation in 2016 1,803,707
Valuation in 2017 313,473
Valuation in 2019 1,439,045
Valuation in 2020 (983,713 )
Valuation in 2022 (450,000 )
Valuation in 2023 8,600,000
Valuation in 2024 (2,558,000 )
Cost 12,534,218
21,800,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 492,486 597,888
Other debtors 5,484,136 6,169,424
5,976,622 6,767,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 383,400 383,400
Trade creditors 44,150 37,604
Taxation and social security 227,073 399,544
Other creditors 588,008 1,210,797
1,242,631 2,031,345

The bank loans are secured over the company's properties and personal guarantees from the directors.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,585,494 11,971,372

The bank loans are secured over the company's properties and personal guarantees from the directors.

SHETSON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02817998)

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


9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 5,610,101 9,816,700 15,426,801
Deficit for the year (1,597,097 ) (1,597,097 )
Dividends (127,900 ) (127,900 )
Transfer to fair value 2,129,047 (2,129,047 ) -
At 31 March 2024 6,014,151 7,687,653 13,701,804

10. RELATED PARTY DISCLOSURES

Dividends of £74,120 (2023 : £100,650) were paid to the directors. As at 31 March 2024, the company was owed £406,824 (2023 : £350,098) by the directors. At 31 March 2024, the company was owed £369,848 by Mrs Tania MacPherson and £3,079 by Mrs Triya Maicha, both shareholders in the company. Interest has been charged on the loans to the directors and shareholders.

11. CONTROL

The company is controlled by the directors by virtue of their shareholdings.