Registered number
03437463
Shinmead Limited
Filleted Accounts
30 September 2024
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
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