Shilland Property Ltd
Unaudited Financial Statements
For the period ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 14937918 (England and Wales)
Shilland Property Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Shilland Property Ltd
Balance Sheet
As at 30 June 2024
Page 1
2024
Notes
£
£
Current assets
Stock
3,196,183
Debtors
3
345
Cash at bank and in hand
39,077
3,235,605
Creditors: amounts falling due within one year
4
(1,947,136)
Net current assets
1,288,469
Creditors: amounts falling due after more than one year
5
(1,316,638)
Net liabilities
(28,169)
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
(28,269)
Total equity
(28,169)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 period 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 and signed by the director and authorised for issue on 13 March 2025
P I Shilland
Director
Company Registration No. 14937918
Shilland Property Ltd
Notes to the Financial Statements
For the period ended 30 June 2024
Page 2
1
Accounting policies
Company information
Shilland Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.
1.1
Reporting period
The financial statements cover the period from 15th June 2023 to 30 June 2024, a period of just over a year. The reason for this longer period is due to it being the company's year of incorporation.
1.2
Accounting convention
These financial statements have been prepared in accordance with Section 1A 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 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. The principal accounting policies adopted are set out below.
1.3
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors have confirmed that they will continue to support the company to meet its day to day capital requirements for a period of one year from the date of signing these accounts.true
1.4
Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial assets
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
Shilland Property Ltd
Notes to the Financial Statements (Continued)
For the period ended 30 June 2024
1
Accounting policies
(Continued)
Page 3
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Debtors
2024
Amounts falling due within one year:
£
Other debtors
345
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
22,726
Other creditors
1,919,910
Accruals
4,500
1,947,136
Handelsbanken Plc holds a fixed and floating charge over the assets of the company.
5
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
1,316,638
Shilland Property Ltd
Notes to the Financial Statements (Continued)
For the period ended 30 June 2024
Page 4
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
During the period, the company issued 100 ordinary shares of £1 each.
7
Related party transactions
As at the year end, the company owed £1,919,910 to its director.
8
Controlling party
The company is controlled by David Alexander Shilland by virtue of his majority shareholding.