ACCOUNTS - Final Accounts

Registered number: 00771512

SHOP AND TOWN PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

SHOP AND TOWN PROPERTIES LIMITED

REGISTERED NUMBER: 00771512

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note	£	£	£	£


Current assets
Stocks	4	1,092,126		1,092,253
Debtors: amounts falling due within one year	5	960,269		439,462
Current asset investments	6	351,332		833,714
Cash at bank and in hand	7	70,249		16,460
		2,473,976		2,381,889
Creditors: amounts falling due within one year	8	(447,419)		(430,460)
Net current assets			2,026,557		1,951,429

Net assets			2,026,557		1,951,429

Capital and reserves
Called up share capital	9	20,000	20,000
Profit and loss account		2,006,557	1,931,429
		2,026,557	1,951,429

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SHOP AND TOWN PROPERTIES LIMITED

REGISTERED NUMBER: 00771512

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers 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 director acknowledges his 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 on 29 October 2025.

J B Coren

Director

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

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SHOP AND TOWN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Shop and Town Properties Limited is a company limited by shares, incorporated in England and Wales. The registered address of the company is 3 Brook Business Centre, Cowley Mill Road, Cowley, Uxbridge, UB8 2FX.
The company specialises in property letting.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

Turnover comprises rent receivable by the company and is recognised on straight-line basis with the period when it is due.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

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SHOP AND TOWN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Taxation

Tax is recognised in the Statement of comprehensive income 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 reporting date in the countries where the Company operates and generates income.

2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

2.9

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.

2.10

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.

2.11

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.

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SHOP AND TOWN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).

4.	Stocks
		2024	2023
		£	£

Property stock	1,092,126	1,092,253
	1,092,126	1,092,253

Debtors

					2024	2023
					£	£


Trade debtors	5,802	1,035
Other debtors	949,838	425,823
Prepayments and accrued income	4,629	12,604
	960,269	439,462

6.	Current asset investments
		2024	2023
		£	£

Listed investments	351,332	833,714
	351,332	833,714

7.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	70,249	16,460
	70,249	16,460

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SHOP AND TOWN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	5,712	-
Corporation tax	37,364	27,049
Other creditors	385,203	385,203
Accruals and deferred income	19,140	18,208
	447,419	430,460

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

20,000 Ordinary shares of £1 each	20,000	20,000

10.

Related party transactions

Included within other creditors is an amount of £385,203 (2023 - £385,203) due to companies related by way of common director.

Included within other debtors is an amount of £935,957 (2023 - £385,877) due from companies related by way of common director.

Included within other debtors is an amount of £13,881 (2023 - £29,866) due from a shareholder of the company. The loan is interest-free and repayable on demand.

11.	Controlling party

The ultimate controlling party of the company are the Executors of the estate of Gerald Coren.

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