Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312025-05-01Buying and selling of own real estate2023-11-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11002035 2023-11-01 2024-10-31 11002035 2022-11-01 2023-10-31 11002035 2024-10-31 11002035 2023-10-31 11002035 c:Director2 2023-11-01 2024-10-31 11002035 d:FreeholdInvestmentProperty 2023-11-01 2024-10-31 11002035 d:FreeholdInvestmentProperty 2024-10-31 11002035 d:FreeholdInvestmentProperty 2023-10-31 11002035 d:CurrentFinancialInstruments 2024-10-31 11002035 d:CurrentFinancialInstruments 2023-10-31 11002035 d:Non-currentFinancialInstruments 2024-10-31 11002035 d:Non-currentFinancialInstruments 2023-10-31 11002035 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 11002035 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11002035 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 11002035 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 11002035 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 11002035 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 11002035 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-10-31 11002035 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 11002035 d:ShareCapital 2024-10-31 11002035 d:ShareCapital 2023-10-31 11002035 d:RetainedEarningsAccumulatedLosses 2024-10-31 11002035 d:RetainedEarningsAccumulatedLosses 2023-10-31 11002035 c:OrdinaryShareClass1 2023-11-01 2024-10-31 11002035 c:OrdinaryShareClass1 2024-10-31 11002035 c:OrdinaryShareClass1 2023-10-31 11002035 c:FRS102 2023-11-01 2024-10-31 11002035 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 11002035 c:FullAccounts 2023-11-01 2024-10-31 11002035 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 11002035 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11002035









SHEARWATER REAL ESTATE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
SHEARWATER REAL ESTATE LTD
REGISTERED NUMBER: 11002035

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
£
£

Fixed assets
  

Investment property
 4 
1,312,822
1,201,399

  
1,312,822
1,201,399

Current assets
  

Debtors: amounts falling due within one year
 5 
1,395
750

Cash at bank and in hand
 6 
3,124
600

  
4,519
1,350

Creditors: amounts falling due within one year
 7 
(962,434)
(830,874)

Net current liabilities
  
 
 
(957,915)
 
 
(829,524)

Total assets less current liabilities
  
354,907
371,875

Creditors: amounts falling due after more than one year
 8 
(458,858)
(460,069)

  

Net liabilities
  
(103,951)
(88,194)


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
(103,953)
(88,196)

  
(103,951)
(88,194)


Page 1

 
SHEARWATER REAL ESTATE LTD
REGISTERED NUMBER: 11002035
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E Owen
Director

Date: 1 May 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SHEARWATER REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Shearwater Real Estate Limited is a limited company incorporated in England and Wales (registered number: 11002035). The registered office address is 101 New Cavendish Street, 1st Floor South, London W1W 6XH.
The principal activity of the company is that of an investment property company.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The Company is dependent on the shareholders for financial support. As at 31 October 2024, the shareholders have confirmed that they will provide adequate finance to enable the Company to continue in operational existence. Therefore, the directors consider it appropriate to prepare the financial statements on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SHEARWATER REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
1,201,399


Additions at cost
111,423



At 31 October 2024
1,312,822

The 2024 valuations were made by directors, on an open market value for existing use basis.





Page 4

 
SHEARWATER REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,395
750

1,395
750



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,124
600

3,124
600



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,541
6,744

Other creditors
953,733
821,970

Accruals and deferred income
2,160
2,160

962,434
830,874



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
458,858
460,069

458,858
460,069


The entitlement to receive rent is secured by the lender in the event of default by way of charge.

Page 5

 
SHEARWATER REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,541
6,744


6,541
6,744


Amounts falling due 2-5 years

Bank loans
26,163
26,976


26,163
26,976

Amounts falling due after more than 5 years

Bank loans
432,695
433,092

432,695
433,092

465,399
466,812



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2


 
Page 6