4 30/03/2023 29/03/2024 2024-03-29 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-30 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 6643085 2023-03-30 2024-03-29 6643085 2024-03-29 6643085 2023-03-29 6643085 2022-03-30 2023-03-29 6643085 2023-03-29 6643085 2022-03-29 6643085 bus:RegisteredOffice 2023-03-30 2024-03-29 6643085 bus:LeadAgentIfApplicable 2023-03-30 2024-03-29 6643085 bus:Agent1 2023-03-30 2024-03-29 6643085 bus:Director1 2023-03-30 2024-03-29 6643085 bus:Director2 2023-03-30 2024-03-29 6643085 bus:Director3 2023-03-30 2024-03-29 6643085 bus:Director4 2023-03-30 2024-03-29 6643085 bus:CompanySecretary1 2023-03-30 2024-03-29 6643085 core:AfterOneYear 2024-03-29 6643085 core:AfterOneYear 2023-03-29 6643085 core:RetainedEarningsAccumulatedLosses 2022-03-30 2023-03-29 6643085 core:ShareCapital 2023-03-30 2024-03-29 6643085 core:RetainedEarningsAccumulatedLosses 2023-03-30 2024-03-29 6643085 core:WithinOneYear 2024-03-29 6643085 core:WithinOneYear 2023-03-29 6643085 core:ShareCapital 2024-03-29 6643085 core:ShareCapital 2023-03-29 6643085 core:RetainedEarningsAccumulatedLosses 2024-03-29 6643085 core:RetainedEarningsAccumulatedLosses 2023-03-29 6643085 core:ShareCapital 2022-03-29 6643085 core:RetainedEarningsAccumulatedLosses 2022-03-29 6643085 core:PreviouslyStatedAmount core:ShareCapital 2024-03-29 6643085 core:CostValuation core:Non-currentFinancialInstruments 2024-03-29 6643085 core:Non-currentFinancialInstruments 2024-03-29 6643085 core:Non-currentFinancialInstruments 2023-03-29 6643085 bus:SmallEntities 2023-03-30 2024-03-29 6643085 bus:AuditExempt-NoAccountantsReport 2023-03-30 2024-03-29 6643085 bus:SmallCompaniesRegimeForAccounts 2023-03-30 2024-03-29 6643085 bus:PrivateLimitedCompanyLtd 2023-03-30 2024-03-29 6643085 bus:FullAccounts 2023-03-30 2024-03-29
Company registration number: 6643085
Showland Investments Limited
Unaudited filleted financial statements
29 March 2024
Showland Investments Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Showland Investments Limited
Directors and other information
Directors Mr M J Woolley - Chairman
Mr R S Phillips - Chief Executive
Mr A J Loader - Director of Finance
Mr D J Golland - Director of Operations (Appointed 1 July 2023)
Secretary A J Loader
Company number 6643085
Registered office Kings Barn
34 Thame Road
Warborough
Oxfordshire
OX10 7DA
Business address 6 Woodlands Road
Barnes
London
SW13 0JZ
Bankers N M Rothschild & Sons Limited
New Court, St Swithin's Lane
London
EC4N 8AL
Santander UK plc
2 Triton Square
Regent's Place
London
NW1 3AN
Solicitors Mishcon de Reya
Africa House
70 Kingsway
London
WC2B 6AH
Showland Investments Limited
Statement of financial position
29 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 230,362 230,362
_______ _______
230,362 230,362
Current assets
Debtors 6 1,176,317 927,277
_______ _______
1,176,317 927,277
Creditors: amounts falling due
within one year 7 ( 98,354) ( 46,119)
_______ _______
Net current assets 1,077,963 881,158
_______ _______
Total assets less current liabilities 1,308,325 1,111,520
Creditors: amounts falling due
after more than one year 8 ( 592,909) ( 682,316)
_______ _______
Net assets 715,416 429,204
_______ _______
Capital and reserves
Called up share capital 10,000 1,000
Profit and loss account 705,416 428,204
_______ _______
Shareholders funds 715,416 429,204
_______ _______
For the year ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Mr M J Woolley - Chairman
Company registration number: 6643085
Showland Investments Limited
Statement of changes in equity
Year ended 29 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 30 March 2022 1,000 237,607 238,607
Profit for the year 190,597 190,597
_______ _______ _______
Total comprehensive income for the year - 190,597 190,597
_______ _______ _______
At 29 March 2023 and 30 March 2023 1,000 428,204 429,204
Profit for the year 277,212 277,212
_______ _______ _______
Total comprehensive income for the year - 277,212 277,212
Issue of shares 9,000 9,000
_______ _______ _______
Total investments by and distributions to owners 9,000 - 9,000
_______ _______ _______
At 29 March 2024 10,000 705,416 715,416
_______ _______ _______
Showland Investments Limited
Notes to the financial statements
Year ended 29 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Kings Barn, 34 Thame Road, Warborough, Oxfordshire, OX10 7DA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Investments
Other investments other than loans Total
£ £
Cost
At 30 March 2023 and 29 March 2024 230,362 230,362
_______ _______
Impairment
At 30 March 2023 and 29 March 2024 - -
_______ _______
Carrying amount
At 29 March 2024 230,362 230,362
_______ _______
At 29 March 2023 230,362 230,362
_______ _______
The Company acts as General Partner to three Limited Partnerships which in turn hold individual commercial investment properties. In addition, the Company purchased some of the individual limited partner interests in those and another limited partnership and merged those interests with its own. The costs of those purchases are reported as Investments in the Accounts of the Company and the income derived is included within turnover.
6. Debtors
2024 2023
£ £
Other debtors 1,176,317 927,277
_______ _______
Debtors comprise monies due from Limited Partnerships of which the company is General partner as well as sums due from subsidiaries.
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 92,404 45,869
Other creditors 5,950 250
_______ _______
98,354 46,119
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 592,909 682,316
_______ _______
Acting in its capacity as General Partner of the Limited Partnerships and manager of two subsidiary companies, the Company entered into a composite Loan Agreement with a UK financing institution in respect of a £10,000,000 fixed term loan. The major part of this loan (95%) is at a fixed rate of interest whilst the balance is at a floating rate. A small proportion of the loan is redeemable over the term of the loan with the balance repayable on the third anniversary of the loan. All the properties owned by the individual limited partnerships and the associated companies are subject to a first charge as collateral for that loan which has been allocated between the various entities which in turn are each jointly and severally responsible for that liability.