Shepperton Properties Limited - Accounts to registrar (filleted) - small 18.2
Shepperton Properties Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2018 |
for |
Shepperton Properties Limited |
Shepperton Properties Limited (Registered number: 01715609) |
Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Shepperton Properties Limited |
Company Information |
for the Year Ended 30 September 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
C204, 2nd Floor |
Cunningham House |
19-21 Westfield Lane |
Harrow |
HA3 9ED |
Shepperton Properties Limited (Registered number: 01715609) |
Balance Sheet |
30 September 2018 |
30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair Value Reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
Shepperton Properties Limited (Registered number: 01715609) |
Balance Sheet - continued |
30 September 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on on its behalf by: |
Shepperton Properties Limited (Registered number: 01715609) |
Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
1. | STATUTORY INFORMATION |
Shepperton Properties Limited is a |
England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total rents receivable during the year. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit |
arising from changes in fair value is recognised in profit or loss. |
Deferred taxation is provided on any gains at the rate expected to apply when the properties |
are sold. |
No depreciation is provided in respect of freehold investment properties. Although the |
Companies Act 2006 would normally require the systematic annual depreciation of fixed |
assets, the directors believe that this policy of not providing depreciation is necessary in |
order for the accounts to give a true and fair view, since the current value of investment |
properties, and changes in that current value, are of prime importance rather than a |
calculation of systematic annual depreciation. Depreciation is only one of the many factors |
reflected in the annual valuation, and the amount which might otherwise have been shown |
cannot be separately identified or quantified. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that |
have been enacted or substantively enacted by the balance sheet date. |
Shepperton Properties Limited (Registered number: 01715609) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in |
periods different from those in which they are recognised in financial statements. Deferred |
tax is measured using tax rates and laws that have been enacted or substantively enacted |
by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 October 2017 |
Additions |
At 30 September 2018 |
DEPRECIATION |
At 1 October 2017 |
Charge for year |
At 30 September 2018 |
NET BOOK VALUE |
At 30 September 2018 |
At 30 September 2017 |
4. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 October 2017 |
and 30 September 2018 |
NET BOOK VALUE |
At 30 September 2018 |
At 30 September 2017 |
Shepperton Properties Limited (Registered number: 01715609) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2017 |
Additions |
Revaluations | 1,321,463 |
At 30 September 2018 |
NET BOOK VALUE |
At 30 September 2018 |
At 30 September 2017 |
Fair value at 30 September 2018 is represented by: |
£ |
Valuation in 2006 | 685,000 |
Valuation in 2008 | 2,065,000 |
Valuation in 2011 | 84,871 |
Valuation in 2012 | (2,074,319 | ) |
Valuation in 2014 | 927,653 |
Valuation in 2015 | 1,663,905 |
Valuation in 2016 | 329,718 |
Valuation in 2017 | 851,647 |
Valuation in 2018 | 1,321,463 |
Cost | 4,633,297 |
10,488,235 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by participating interests | 158,705 | 158,579 |
Other debtors |
Shepperton Properties Limited (Registered number: 01715609) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to participating interests | 1,248,739 | 1,247,739 |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,976,406 | 1,588,737 |
The bank loans and overdraft are secured by fixed charges on the company's freehold |
properties and a floating charge over the company's other assets. The bank loan attracts |
interest at a rate of 2.75% above bank base rate. |
The directors of the group undertakings have stated that the amounts due to these |
companies will not be recalled within one year, except to the extent that funds allow. |
9. | PROVISIONS FOR LIABILITIES |
30.9.18 | 30.9.17 |
£ | £ |
Deferred tax | 505,164 | 254,086 |
Deferred |
tax |
£ |
Balance at 1 October 2017 |
Provided during year |
Balance at 30 September 2018 |
Shepperton Properties Limited (Registered number: 01715609) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
10. | RESERVES |
Fair |
Retained | Value |
earnings | Reserve | Totals |
£ | £ | £ |
At 1 October 2017 | 4,765,693 |
Profit for the year |
Fair value change in the year | (1,321,463 | ) | 1,321,463 | - |
At 30 September 2018 | 5,898,658 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | RELATED PARTY DISCLOSURES |
At 30 September 2018, there are amounts due to Shepperton Group Limited of £1,248,739 |
(2017: £1,247,739) being a connected company. |
A management charge of £34,356 (2017: £34,356) was paid to Shepperton Group Limited |
during the year. |
At 30 September 2018, there were amounts due from Shepperton Ventures Limited of |
£22,463 (2017- £22,463), the ultimate parent company. |
At 30 September 2018, there were amounts due from Shepperton Builders Limited of |
£158,705 (2017- £158,579), being a connected company. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Shepperton Ventures Limited which is incorporated in the |
British Virgin Islands and is controlled by its shareholder G K Davis. |