Pro'Shea Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10789318 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Pro'Shea Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L O'Shea

REGISTERED OFFICE:

123 Boxley Road

Maidstone

ME14 2TJ

REGISTERED NUMBER:

10789318 (England and Wales)

ACCOUNTANTS:

Steve Pye & Co.

Chartered Certified Accountants

Unit 3

North Lynn Business Village

Bergen Way

King's Lynn

Norfolk

PE30 2JG

FIXED ASSETS

Investment property

5

3,963,811

3,179,332

CURRENT ASSETS

Cash at bank

7,730

12,823

CREDITORS

Amounts falling due within one year

6

2,296,316

1,616,193

NET CURRENT LIABILITIES

(2,288,586

)

(1,603,370

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,675,225

1,575,962

CREDITORS

Amounts falling due after more than one year

7

1,437,239

1,513,660

NET ASSETS

237,986

62,302

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

236,986

61,302

237,986

62,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2021 and were signed by:

Ms L O'Shea - Director

1.	STATUTORY INFORMATION

Pro'Shea 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2020

3,179,332

Additions

784,479

At 31 May 2021

3,963,811

NET BOOK VALUE

At 31 May 2021

3,963,811

At 31 May 2020

3,179,332

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

67,000

57,000

Trade creditors

1,200

2,833

Amounts owed to associates

1,951,550

1,550,090

Taxation and social security

41,210

6,237

Other creditors

235,356

33

2,296,316

1,616,193

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

1,437,239

1,513,660

8.	SECURED DEBTS

A debenture over the assets of Pro'Shea Limited.

Legal charges over the properties at 110 Poplar Grove, 12 Tonbridge Road, 54 Buckland Road and 27 Ashford road.