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Company registration number: SC076981
Sheltered Housing Management Limited
Unaudited filleted financial statements
31 December 2024
Sheltered Housing Management Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Sheltered Housing Management Limited
Directors and other information
Directors
C W Miller
I K Miller
Secretary C W Miller
Company number SC076981
Registered office 16 - 18 Weir Street
Falkirk
FK1 1RA
Accountants Barrie Scott & Co.
16 - 18 Weir Street
Falkirk
FK1 1RA
Sheltered Housing Management Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Sheltered Housing Management Limited
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sheltered Housing Management Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation -of-accounts-revised-june-2020.
This report is made solely to the board of directors of Sheltered Housing Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sheltered Housing Management Limited and state those matters that we have agreed to state to the board of directors of Sheltered Housing Management Limited as a body, in this report in accordance with the requirements of ICAS as detailed at https://www.icas.com/regulation- technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sheltered Housing Management Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sheltered Housing Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sheltered Housing Management Limited. You consider that Sheltered Housing Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sheltered Housing Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barrie Scott & Co.
Accountants & Tax Advisers
16 - 18 Weir Street
Falkirk
FK1 1RA
23 June 2025
Sheltered Housing Management Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 6 33,500 33,500
_______ _______
33,500 33,500
Current assets
Debtors 7 127,334 96,153
Cash at bank and in hand 278,685 432,455
_______ _______
406,019 528,608
Creditors: amounts falling due
within one year 8 ( 24,413) ( 129,024)
_______ _______
Net current assets 381,606 399,584
_______ _______
Total assets less current liabilities 415,106 433,084
_______ _______
Net assets 415,106 433,084
_______ _______
Capital and reserves
Called up share capital 5,000 5,000
Revaluation reserve 12,015 12,015
Profit and loss account 398,091 416,069
_______ _______
Shareholders funds 415,106 433,084
_______ _______
For the year ending 31 December 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 16 June 2025 , and are signed on behalf of the board by:
C W Miller
Director
Company registration number: SC076981
Sheltered Housing Management Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 16 - 18 Weir Street, Falkirk, FK1 1RA.
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.
Going concern
These accounts are prepared on a Going Concern basis.
Turnover
Turnover represents the total value of fees received during the year, adjusted for opening and closing debtors.Revenue is recognised when the fees become due.
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - Straight line over 3 years
Fittings fixtures and equipment - 25% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost and subsequently stated at fair value.
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Total
£
Cost
At 1 January 2024 and 31 December 2024 -
_______
Depreciation
At 1 January 2024 and 31 December 2024 -
_______
Carrying amount
At 31 December 2024 -
_______
At 31 December 2023 -
_______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 January 2024 and 31 December 2024 33,500 33,500
_______ _______
Impairment
At 1 January 2024 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 33,500 33,500
_______ _______
At 31 December 2023 33,500 33,500
_______ _______
7. Debtors
2024 2023
£ £
Other debtors 127,334 96,153
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax - 104,759
Social security and other taxes 188 -
Other creditors 24,225 24,265
_______ _______
24,413 129,024
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
C W Miller 95,281 - ( 104) 95,177
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
C W Miller ( 19,730) 116,190 ( 1,179) 95,281
_______ _______ _______ _______
These loans are subject to interest charged at 2.5% and have no fixed terms of repayment.