Shordigan Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02364651 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

Shordigan Holdings Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

V I Cohen

Dr R Cohen

SECRETARY:

Dr R Cohen

REGISTERED OFFICE:

28 Church Road

Stanmore

Middlesex

HA7 4XR

REGISTERED NUMBER:

02364651 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Property, plant and equipment

4

1,568

2,091

Investments

5

152

152

Investment property

6

1,178,000

1,235,000

1,179,720

1,237,243

CURRENT ASSETS

Debtors

7

9,201

4,201

Cash at bank

100,067

46,208

109,268

50,409

CREDITORS

Amounts falling due within one year

8

(177,170

)

(188,523

)

NET CURRENT LIABILITIES

(67,902

)

(138,114

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,111,818

1,099,129

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

9

1,111,814

1,099,125

SHAREHOLDERS' FUNDS

1,111,818

1,099,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 Board of Directors on 13 December 2018 and were signed on its behalf by:

V I Cohen - Director

1.	STATUTORY INFORMATION

Shordigan Holdings 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.	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

Income comprises rent receivable from investment properties net of value added tax and is recognised

on an accruals basis. Benefits provided to lessees in the form of rent free periods and capital

contributions are treated as a reduction in the overall return on the lease and are recognised on a

straight line basis over the full term of the lease.

Tangible fixed assets

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

Furniture, fixtures & fittings

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Investment properties

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.

Initial measurement

Investment properties are initially measured at cost.

Subsequent measurement

Investment properties are measured at fair value at each reporting date with changes in fair values

recognised in profit or loss. No depreciation is provided in respect of investment properties.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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 (2017 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Furniture,

fixtures

& fittings

£

COST

At 1 April 2017

and 31 March 2018

26,797

DEPRECIATION

At 1 April 2017

24,706

Charge for year

523

At 31 March 2018

25,229

NET BOOK VALUE

At 31 March 2018

1,568

At 31 March 2017

2,091

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

152

NET BOOK VALUE

At 31 March 2018

152

At 31 March 2017

152

The company's investment in its subsidiary company represents the cost of acquisition of 52% of the

ordinary 'A' share capital and 1/3 of the ordinary 'B' share capital of SVS Investments Ltd which is a

property investment company. The 'A' shares carry full voting, dividend and participation rights.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

1,235,000

Revaluations

(57,000

)

At 31 March 2018

1,178,000

NET BOOK VALUE

At 31 March 2018

1,178,000

At 31 March 2017

1,235,000

The property was valued at the year end by the directors.

Fair value at 31 March 2018 is represented by:

£

Valuation in 2013

(37,285

)

Valuation in 2014

91,243

Valuation in 2015

(6,215

)

Valuation in 2016

90,000

Valuation in 2017

(15,000

)

Valuation in 2018

(57,000

)

Cost

1,112,257

1,178,000

If the investment properties had not been revalued they would have been included at the following

historical cost:

2018

2017

£

£

Cost

1,112,257

1,112,257

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

201

201

Amounts owed by group undertakings

9,000

4,000

9,201

4,201

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other loans

78,404

78,404

Corporation tax

15,297

15,754

Social security and other taxes

6,203

4,447

Directors' current accounts

55,581

73,496

Accruals and deferred income

21,685

16,422

177,170

188,523

9.

RESERVES

The retained earnings of £1,111,814 (2017 - £1,099,125) comprise of distributable reserves of

£1,046,071 (2017 - £976,382) and non-distributable reserves of £65,743 (2017 - £122,743) which

relate to property revaluations less related deferred tax provision.