Shepperton Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01715609 (England and Wales)

Financial Statements for the Year Ended 30 September 2020

for

Shepperton Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G K Davis

Mrs J A Davis

G Braddick

C W Smith

REGISTERED OFFICE:

11 Lansdowne Court

Bumpers Way

Bumpers Farm

Chippenham

SN14 6RZ

REGISTERED NUMBER:

01715609 (England and Wales)

AUDITORS:

KEY LEDGERS ACCOUNTANTS LTD

C204, Cunningham House

19-21 Westfield Lane

Harrow

HA3 9ED

FIXED ASSETS

Tangible assets

4

30,563

38,111

Investments

5

1,400

1,400

Investment property

6

11,446,697

11,083,250

11,478,660

11,122,761

CURRENT ASSETS

Debtors

7

263,682

262,603

Cash at bank

531,037

880,848

794,719

1,143,451

CREDITORS

Amounts falling due within one year

8

1,539,314

1,551,099

NET CURRENT LIABILITIES

(744,595

)

(407,648

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,734,065

10,715,113

CREDITORS

Amounts falling due after more than one year

9

(4,164,627

)

(4,205,927

)

PROVISIONS FOR LIABILITIES

10

(554,178

)

(524,285

)

NET ASSETS

6,015,260

5,984,901

CAPITAL AND RESERVES

Called up share capital

2

2

Fair Value Reserve

11

5,847,080

5,847,080

Retained earnings

11

168,178

137,819

SHAREHOLDERS' FUNDS

6,015,260

5,984,901

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 29 June 2021 and were signed on its behalf by:

G Braddick - Director

1.	STATUTORY INFORMATION

Shepperton Properties Limited is a private company, limited by shares , registered in 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the total rents receivable during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

50% on cost and 25% on reducing balance

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.

The property Valuation was done by the director, Mr G K Davis.

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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2019

7,332

375,965

383,297

Additions

-

2,293

2,293

At 30 September 2020

7,332

378,258

385,590

DEPRECIATION

At 1 October 2019

6,858

338,328

345,186

Charge for year

119

9,722

9,841

At 30 September 2020

6,977

348,050

355,027

NET BOOK VALUE

At 30 September 2020

355

30,208

30,563

At 30 September 2019

474

37,637

38,111

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 October 2019

and 30 September 2020

1,400

NET BOOK VALUE

At 30 September 2020

1,400

At 30 September 2019

1,400

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2019

11,083,250

Additions

363,447

At 30 September 2020

11,446,697

NET BOOK VALUE

At 30 September 2020

11,446,697

At 30 September 2019

11,083,250

Fair value at 30 September 2020 is represented by:

£

Valuation in 2008

2,750,000

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

Valuation in 2019

100,636

Cost

5,491,123

11,446,697

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

59,066

69,363

Amounts owed by group undertakings

22,463

22,463

Amounts owed by participating interests

160,101

158,705

Other debtors

22,052

12,072

263,682

262,603

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts

195,413

231,432

Trade creditors

37,709

3,979

Amounts owed to participating interests

1,249,102

1,249,102

Taxation and social security

13,729

13,729

Other creditors

43,361

52,857

1,539,314

1,551,099

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans

4,164,627

4,205,927

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,164,627

4,205,927

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 2.60% 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.

10.	PROVISIONS FOR LIABILITIES

30.9.20

30.9.19

£

£

Deferred tax

554,178

524,285

Deferred

tax

£

Balance at 1 October 2019

524,285

Provided during year

29,893

Balance at 30 September 2020

554,178

11.

RESERVES

Fair

Retained

Value

earnings

Reserve

Totals

£

£

£

At 1 October 2019

137,819

5,847,080

5,984,899

Profit for the year

130,359

130,359

Dividends

(100,000

)

(100,000

)

At 30 September 2020

168,178

5,847,080

6,015,258

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Bharat Varsani (Senior Statutory Auditor)

for and on behalf of KEY LEDGERS ACCOUNTANTS LTD

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.

14.	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.