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Registered number: 07681544









SHORTLANDS ESTATES LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2025

 
SHORTLANDS ESTATES LIMITED
REGISTERED NUMBER:07681544

BALANCE SHEET
AS AT 28 FEBRUARY 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
293
372

Investment property
 6 
800,000
725,000

  
800,293
725,372

Current assets
  

Cash at bank and in hand
 7 
125,070
105,392

Creditors: amounts falling due within one year
 8 
(69,308)
(68,376)

Net current assets
  
 
 
55,762
 
 
37,016

Total assets less current liabilities
  
856,055
762,388

Provisions for liabilities
  

Deferred tax
 9 
(109,653)
(90,903)

Net assets
  
746,402
671,485


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 10 
415,860
359,610

Profit and loss account
 10 
330,442
311,775

  
746,402
671,485

Page 1

 
SHORTLANDS ESTATES LIMITED
REGISTERED NUMBER:07681544
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025

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 income statement 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 on 17 April 2025.




Yusuf Dedat
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
SHORTLANDS ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

The company is registered in England & Wales. The company's registered office and trading address is Manor Lodge, 93 Church Hill, Walthamstow, London E17 3BD. The company's principal activity is that of property investment.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SHORTLANDS ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Other fixed assets
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

Page 4

 
SHORTLANDS ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have used their exeperience in valuing the investment property at the company year end.


4.


Employees

2025
2024
£
£

Wages and salaries
22,200
20,400

Cost of defined contribution scheme
259
187

22,459
20,587


The average monthly number of employees, including directors, during the year was 4 (2024 - 4).

Page 5

 
SHORTLANDS ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Tangible fixed assets







Plant and machinery
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 March 2024
2,768
9,170
11,938



At 28 February 2025

2,768
9,170
11,938



Depreciation


At 1 March 2024
2,682
8,884
11,566


Charge for the year on owned assets
7
72
79



At 28 February 2025

2,689
8,956
11,645



Net book value



At 28 February 2025
79
214
293



At 29 February 2024
86
286
372

Page 6

 
SHORTLANDS ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

6.


Investment property





Freehold investment property

£



Valuation


At 1 March 2024
725,000


Surplus on revaluation
75,000



At 28 February 2025
800,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

28 February
29 February
2025
2024
£
£


Historic cost
315,073
315,073


7.


Cash and cash equivalents

28 February
29 February
2025
2024
£
£

Cash at bank and in hand
125,070
105,392


Page 7

 
SHORTLANDS ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

8.


Creditors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£

Corporation tax
4,397
5,094

Other creditors
63,211
63,282

Accruals and deferred income
1,700
-

69,308
68,376



9.


Deferred taxation






2025


£






At beginning of year
(90,903)


Charged to the profit or loss
(18,750)



At end of year
(109,653)

The provision for deferred taxation is made up as follows:

28 February
29 February
2025
2024
£
£


Property revaluation
(109,653)
(90,903)


10.


Reserves

Other reserves

Non-distributable revaluation reserves

Profit and loss account

Distributable reserves.

 
Page 8