Shreeve Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09854146

Shreeve Property Limited

Unaudited financial statements

31 December 2024

Shreeve Property Limited

Statement of financial position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	5	2,086	2,374
Tangible assets	6	4,323,944	4,328,220
		-----------	-----------
		4,326,030	4,330,594

Current assets

Debtors	7	148,196	143,720
Cash at bank and in hand		40,637	16,596
		---------	---------
		188,833	160,316

Creditors: Amounts falling due within one year	8	( 1,244,989)		( 1,230,753)
		-----------		-----------
Net current liabilities			( 1,056,156)		( 1,070,437)
			-----------		-----------
Total assets less current liabilities			3,269,874		3,260,157

Creditors: Amounts falling due after more than one year	9		( 1,917,601)		( 1,812,769)

Provisions

Taxation including deferred tax	( 292,382)	( 307,399)
	-----------	-----------
Net assets	1,059,891	1,139,989
	-----------	-----------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	979,818	1,027,678
Profit and loss account	79,973	112,211
	-----------	-----------
Shareholders funds	1,059,891	1,139,989
	-----------	-----------

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 income statement has not been delivered.

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 .

Shreeve Property Limited

Statement of financial position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 October 2025 , and are signed on behalf of the board by:

Mr D J Shreeve

Director

Company registration number: 09854146

Shreeve Property 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 England and Wales. The address of the registered office is 26-28 Pinbush Road, Lowestoft, Suffolk, NR33 7NL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Equipment	-	15% reducing balance

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of employees during the year was 2 (2023: 2 ).

5. Intangible assets

	Website
	£
Cost
At 1 January 2024 and 31 December 2024	3,081
	------
Amortisation
At 1 January 2024	707
Charge for the year	288
	------
At 31 December 2024	995
	------
Carrying amount
At 31 December 2024	2,086
	------
At 31 December 2023	2,374
	------

6. Tangible assets

	Investment property	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	4,305,553	36,621	14,823	2,798	4,359,795
Additions	89,533	–	–	–	89,533
Revaluations	( 89,533)	–	–	–	( 89,533)
	-----------	-------	-------	------	-----------
At 31 December 2024	4,305,553	36,621	14,823	2,798	4,359,795
	-----------	-------	-------	------	-----------
Depreciation
At 1 January 2024	–	27,821	3,426	328	31,575
Charge for the year	–	2,198	1,708	370	4,276
	-----------	-------	-------	------	-----------
At 31 December 2024	–	30,019	5,134	698	35,851
	-----------	-------	-------	------	-----------
Carrying amount
At 31 December 2024	4,305,553	6,602	9,689	2,100	4,323,944
	-----------	-------	-------	------	-----------
At 31 December 2023	4,305,553	8,800	11,397	2,470	4,328,220
	-----------	-------	-------	------	-----------

Investment properties were revalued by the directors at 31 December 2023 on the basis of open market value with existing use .

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31 December 2024
Aggregate cost	3,035,485
Aggregate depreciation	–
	-----------
Carrying value	3,035,485
	-----------

At 31 December 2023
Aggregate cost	2,945,952
Aggregate depreciation	–
	-----------
Carrying value	2,945,952
	-----------

7. Debtors

	2024	2023
	£	£
Trade debtors	( 4,097)	13,654
Other debtors	152,293	130,066
	---------	---------
	148,196	143,720
	---------	---------

8. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Trade creditors	7,121	8,611
Other creditors	1,237,868	1,222,142
	-----------	-----------
	1,244,989	1,230,753
	-----------	-----------

9. Creditors: Amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	1,917,601	1,812,769
	-----------	-----------

Included within creditors: amounts falling due after more than one year is an amount of £1,917,601 (2023: £1,812,769) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Bank loans and overdrafts are secured on the investment properties of the company.

10. Related party transactions

Included within other creditors is a balance of £878,002 (2023: £860,002) owed to Yuki Commercial Limited, a company in which one of the directors has an interest in.