Shelsea Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10648784

Shelsea Limited

Filleted Unaudited Financial Statements

31 March 2025

Shelsea Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	765,488	765,488

Current assets

Debtors	5	144,250	144,800
Cash at bank and in hand		5,199	7,060
		---------	---------
		149,449	151,860

Creditors: amounts falling due within one year	6	( 97,467)	( 59,315)
		---------	---------
Net current assets		51,982	92,545
		---------	---------
Total assets less current liabilities		817,470	858,033

Creditors: amounts falling due after more than one year	7	( 862,612)	( 866,386)
		---------	---------
Net liabilities		( 45,142)	( 8,353)
		---------	---------

Capital and reserves

Called up share capital	8	1	1
Profit and loss account		( 45,143)	( 8,354)
		--------	-------
Shareholders deficit		( 45,142)	( 8,353)
		--------	-------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Shelsea Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 31 December 2025 , and are signed on behalf of the board by:

Mr. M. Hafezjee
Director

Company registration number: 10648784

Shelsea Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Devonshire House, 582 Honeypot Lane, Stanmore, HA7 1JS.

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.

Going concern

The director has guaranteed to provide financial support to the company so that it will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition

Turnover represents rental income from property and is recognised when the rentals are receivable from the tenants.

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.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Tangible assets

	Long leasehold property
	£
Cost
At 1 April 2024 and 31 March 2025	765,488
	---------
Depreciation
At 1 April 2024 and 31 March 2025	–
	---------
Carrying amount
At 31 March 2025	765,488
	---------
At 31 March 2024	765,488
	---------

In the opinion of the directors the market value of the investment properties at the end of the accounting period are equivalent to its cost.

5. Debtors

	2025	2024
	£	£
Trade debtors	–	550
Other debtors	144,250	144,250
	---------	---------
	144,250	144,800
	---------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	3,000
Other creditors	97,467	56,315
	--------	--------
	97,467	59,315
	--------	--------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	862,612	866,386
	---------	---------

Bank loans amounting to £862,612 (2024 £862,785) have been secured by a fixed charge over the company's leasehold property.

Included within creditors: amounts falling due after more than one year is an amount of £862,612 (2024: £862,785) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----