| Shinmead Limited |
| Registered number: |
03437463 |
| Balance Sheet |
| as at 30 September 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
3,091,158 |
|
|
3,091,158 |
|
| Current assets |
| Debtors |
4 |
|
2,205 |
|
|
2,094 |
| Cash at bank and in hand |
|
|
40,890 |
|
|
17,852 |
|
|
|
43,095 |
|
|
19,946 |
|
| Creditors: amounts falling due within one year |
5 |
|
(121,633) |
|
|
(120,858) |
|
| Net current liabilities |
|
|
|
(78,538) |
|
|
(100,912) |
|
| Total assets less current liabilities |
|
|
|
3,012,620 |
|
|
2,990,246 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(1,789,666) |
|
|
(1,795,732) |
|
| Provisions for liabilities |
|
|
|
(179,208) |
|
|
(179,208) |
|
|
| Net assets |
|
|
|
1,043,746 |
|
|
1,015,306 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
8 |
|
|
771,015 |
|
|
771,015 |
| Profit and loss account |
|
|
|
272,631 |
|
|
244,191 |
|
| Shareholders' funds |
|
|
|
1,043,746 |
|
|
1,015,306 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Dr Y S Desai |
| Director |
| Approved by the board on 5 June 2025 |
|
| Shinmead Limited |
| Notes to the Accounts |
| for the year ended 30 September 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration of rent received or receivable, net of discounts and value added taxes from the investment properties. |
|
|
Tangible fixed assets |
|
No Depreciation is provided on investment properties. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 October 2023 |
3,091,158 |
|
At 30 September 2024 |
3,091,158 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 September 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
3,091,158 |
|
At 30 September 2023 |
3,091,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2024 |
|
2023 |
| £ |
£ |
|
Historical cost |
2,140,935 |
|
2,140,935 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
2,140,935 |
|
2,140,935 |
|
Land and Buildings shown above were revalued by the directors, Mr I P Patel and Dr Y S Desai on an open market value basis, as at 30/09/2024 at £3091158 (2023: £3091158). No depreciation is charged on these investment properties as it is necessary to show a true and fair view contrary to the requirement of the Companies Act 2006. |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
2,205 |
|
2,094 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans and overdrafts |
89,635 |
|
88,060 |
|
Other creditors |
31,998 |
|
32,798 |
|
|
|
|
|
|
121,633 |
|
120,858 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
1,789,666 |
|
1,795,732 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2024 |
|
2023 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
1,879,301 |
|
1,883,792 |
|
|
|
|
|
|
|
|
|
|
The Bank loans are secured by a fixed charge over the company's assets. |
|
|
| 8 |
Revaluation reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 October 2023 |
771,015 |
|
814,025 |
|
Deferred taxation arising on the revaluation of land and buildings |
- |
|
(43,010) |
|
|
At 30 September 2024 |
771,015 |
|
771,015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
|
Shinmead Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
72 Plumstead High Street |
|
Plumstead |
|
London |