Shepperton Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01715609 (England and Wales)

Financial Statements for the Year Ended 30 September 2017

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

REGISTERED OFFICE:

Carriage Court

24 Circus Mews

Bath

BA1 2PW

REGISTERED NUMBER:

01715609 (England and Wales)

AUDITORS:

Key Ledgers

C204, 2nd Floor

Cunningham House

19-21 Westfield Lane

Harrow

HA3 9ED

FIXED ASSETS

Tangible assets

3

41,603

52,152

Investments

4

1,400

1,400

Investment property

5

7,540,000

6,589,768

7,583,003

6,643,320

CURRENT ASSETS

Debtors

6

264,179

262,814

Cash at bank

342,888

515,196

607,067

778,010

CREDITORS

Amounts falling due within one year

7

1,581,552

1,576,816

NET CURRENT LIABILITIES

(974,485

)

(798,806

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,608,518

5,844,514

CREDITORS

Amounts falling due after more than one year

8

(1,588,737

)

(1,708,191

)

PROVISIONS FOR LIABILITIES

9

(254,086

)

(146,803

)

NET ASSETS

4,765,695

3,989,520

CAPITAL AND RESERVES

Called up share capital

2

2

Fair Value Reserve

10

4,424,981

3,573,334

Retained earnings

10

340,712

416,184

SHAREHOLDERS' FUNDS

4,765,695

3,989,520

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 25 April 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2016

7,332

352,781

360,113

Additions

-

2,836

2,836

At 30 September 2017

7,332

355,617

362,949

DEPRECIATION

At 1 October 2016

6,208

301,753

307,961

Charge for year

281

13,104

13,385

At 30 September 2017

6,489

314,857

321,346

NET BOOK VALUE

At 30 September 2017

843

40,760

41,603

At 30 September 2016

1,124

51,028

52,152

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 October 2016

and 30 September 2017

1,400

NET BOOK VALUE

At 30 September 2017

1,400

At 30 September 2016

1,400

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2016

6,589,768

Additions

98,585

Revaluations

851,647

At 30 September 2017

7,540,000

NET BOOK VALUE

At 30 September 2017

7,540,000

At 30 September 2016

6,589,768

Fair value at 30 September 2017 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

Cost

3,006,525

7,540,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

46,166

61,835

Amounts owed by group undertakings

22,463

22,463

Amounts owed by participating interests

158,579

158,579

Other debtors

36,971

19,937

264,179

262,814

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

177,000

177,000

Trade creditors

68,488

30,083

Amounts owed to participating interests

1,247,739

1,246,739

Taxation and social security

33,599

-

Other creditors

54,726

122,994

1,581,552

1,576,816

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans

1,588,737

1,708,191

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,588,737

1,708,191

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

30.9.17

30.9.16

£

£

Deferred tax

254,086

146,803

Deferred

tax

£

Balance at 1 October 2016

146,803

Provided during year

107,283

Balance at 30 September 2017

254,086

10.

RESERVES

Fair

Retained

Value

earnings

Reserve

Totals

£

£

£

At 1 October 2016

416,184

3,573,334

3,989,518

Profit for the year

876,175

876,175

Dividends

(100,000

)

(100,000

)

Fair value change in the year

(851,647

)

851,647

-

At 30 September 2017

340,712

4,424,981

4,765,693

11.	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

12.	RELATED PARTY DISCLOSURES

At 30 September 2017, there are amounts due to Shepperton Group Limited of £1,247,739

(2016: £1,246,739) being a connected company.

A management charge of £34,356 (2016: £43,108) was paid to Shepperton Group Limited

during the year.

At 30 September 2017, there were amounts due from Shepperton Ventures Limited of

£22,463 (2016- £22,463), the ultimate parent company.

At 30 September 2017, there were amounts due from Shepperton Builders Limited of

£158,579 (2016- £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 it's shareholder G K Davis.