Shepperton Properties Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 01715609 (England and Wales)

Financial Statements for the Year Ended 30 September 2022

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

C W Smith

REGISTERED OFFICE:

11 Lansdowne Court

Bumpers Way

Bumpers Farm

Chippenham

SN14 6RZ

REGISTERED NUMBER:

01715609 (England and Wales)

AUDITORS:

Mark Arber Limited

71-75 Shelton Street

Covent Garden

London

WC2H 9JQ

FIXED ASSETS

Tangible assets

4

22,266

24,931

Investments

5

1,400

1,400

Investment property

6

11,446,697

11,446,697

11,470,363

11,473,028

CURRENT ASSETS

Debtors

7

88,271

217,333

Cash at bank

489,285

430,907

577,556

648,240

CREDITORS

Amounts falling due within one year

8

1,358,191

1,489,354

NET CURRENT LIABILITIES

(780,635

)

(841,114

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,689,728

10,631,914

CREDITORS

Amounts falling due after more than one year

9

(4,002,537

)

(4,084,453

)

PROVISIONS FOR LIABILITIES

10

(554,178

)

(554,178

)

NET ASSETS

6,133,013

5,993,283

CAPITAL AND RESERVES

Called up share capital

2

2

Fair Value Reserve

11

5,847,080

5,847,080

Retained earnings

11

285,931

146,201

SHAREHOLDERS' FUNDS

6,133,013

5,993,283

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 September 2023 and were signed on its behalf by:

G K Davis - 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 (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2021

7,332

380,556

387,888

Additions

-

5,207

5,207

At 30 September 2022

7,332

385,763

393,095

DEPRECIATION

At 1 October 2021

7,065

355,892

362,957

Charge for year

67

7,805

7,872

At 30 September 2022

7,132

363,697

370,829

NET BOOK VALUE

At 30 September 2022

200

22,066

22,266

At 30 September 2021

267

24,664

24,931

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 October 2021

and 30 September 2022

1,400

NET BOOK VALUE

At 30 September 2022

1,400

At 30 September 2021

1,400

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2021

and 30 September 2022

11,446,697

NET BOOK VALUE

At 30 September 2022

11,446,697

At 30 September 2021

11,446,697

Fair value at 30 September 2022 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

30.9.22

30.9.21

£

£

Trade debtors

51,898

27,330

Amounts owed by group undertakings

22,463

22,463

Amounts owed by participating interests

-

161,022

Other debtors

13,910

6,518

88,271

217,333

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans and overdrafts

195,413

195,413

Trade creditors

4,404

1,238

Amounts owed to participating interests

1,086,597

1,249,102

Taxation and social security

483

19,906

Other creditors

71,294

23,695

1,358,191

1,489,354

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans

4,002,537

4,084,453

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,002,537

4,084,453

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

30.9.22

30.9.21

£

£

Deferred tax

554,178

554,178

Deferred

tax

£

Balance at 1 October 2021

554,178

Balance at 30 September 2022

554,178

11.

RESERVES

Fair

Retained

Value

earnings

Reserve

Totals

£

£

£

At 1 October 2021

146,201

5,847,080

5,993,281

Profit for the year

189,730

189,730

Dividends

(50,000

)

(50,000

)

At 30 September 2022

285,931

5,847,080

6,133,011

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

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)

for and on behalf of Mark Arber Limited

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.