Short Properties Limited - Filleted accounts

Registered number

06352045

Short Properties Limited

Unaudited Filleted Accounts

31 October 2025

Short Properties Limited
Registered number:		06352045
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		808,046			866,647
Investments	5		100			100
			808,146			866,747

Current assets
Cash at bank and in hand		5,519			8,740

Creditors: amounts falling due within one year	6	(491,770)			(519,019)

Net current liabilities			(486,251)			(510,279)

Total assets less current liabilities			321,895			356,468

Creditors: amounts falling due after more than one year	7		(25,168)			(61,719)

Provisions for liabilities			(39,298)			(47,899)


Net assets			257,429			246,850

Capital and reserves
Called up share capital			102			102
Profit and loss account			257,327			246,748

Shareholder's funds			257,429			246,850

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




S J Keen
Director
Approved by the board on 31 July 2026

Short Properties Limited
Notes to the Accounts
for the year ended 31 October 2025


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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Revenue from property rental contracts is recognised per the contract agreement on an accruals basis rather than when received.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and Buildings			Nil
	Plant and equipment			15% to 25% reducing balance basis
	Motor vehicles			25% reducing balance basis

	Freehold land and buildings represents property held to earn rentals and/or capital appreciation. This asset is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date with any surplus or deficit being recognised in the profit or loss account. Depreciation is charged on the freehold property to write off the asset less estimated residual value over its estimated useful life. Where the building is maintained to such a high standard that its estimated residual value is not materially less than cost or valuation, no depreciation is charged as it is not material.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Taxation					2025		2024
£							£

	UK corporation tax					11,952		-
	Deferred tax					(8,601)		(2,488)

						3,351		(2,488)


3	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					-		-


4	Tangible fixed assets
		Land and buildings		Plant and equipment		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 November 2024	577,457		341,772		251,481		1,170,710
	Additions	-		199		-		199
	At 31 October 2025	577,457		341,971		251,481		1,170,909

	Depreciation
	At 1 November 2024	-		186,220		117,843		304,063
	Charge for the year	-		23,687		35,113		58,800
	At 31 October 2025	-		209,907		152,956		362,863

	Net book value
	At 31 October 2025	577,457		132,064		98,525		808,046
	At 31 October 2024	577,457		155,552		133,638		866,647


	Freehold land and buildings:					2025		2024
£							£
	Historical cost					577,457		577,457
	Cumulative depreciation based on historical cost					-		-
						577,457		577,457

	The valuation of freehold land and buildings was reviewed on 31st October 2023 by the sole director. The sole director is satisfied that freehold land and buildings continues to have a current value of £577,457.


5	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 November 2024							100

	At 31 October 2025							100


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Non-equity preference shares					10		10
	Bank loans and overdrafts					9,999		10,000
	Obligations under finance lease and hire purchase contracts					27,200		65,064
	Trade creditors					52,868		14,880
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					59,712		61,412
	Taxation and social security costs					31,501		21,050
	Director's current account					305,480		341,703
	Other creditors					5,000		4,900
						491,770		519,019


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					4,768		14,119
	Obligations under finance lease and hire purchase contracts					20,400		47,600
						25,168		61,719


8	Controlling party

	The company is ultimately controlled by its Sole Director S.J. Keen.


9	Other information

	Short Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	James House
	40 Lagland Street
	Poole
	Dorset
	BH15 1QG