Shelton Estates (Cambs) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08720394 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

Shelton Estates (Cambs) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Singh

REGISTERED OFFICE:

Endeavour House

Saville Road

Peterborough

Cambridgeshire

PE3 7PS

REGISTERED NUMBER:

08720394 (England and Wales)

ACCOUNTANTS:

Fortus Business Advisors & Accountants

Chartered Certified Accountants

Fairview

192 Park Road

Peterborough

Cambridgeshire

PE1 2UF

FIXED ASSETS

Investment property

4

2,750,000

CURRENT ASSETS

Debtors

5

18,749

12,130

Cash at bank

20,865

17,831

39,614

29,961

CREDITORS

Amounts falling due within one year

6

1,484,630

1,545,536

NET CURRENT LIABILITIES

(1,445,016

)

(1,515,575

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,304,984

1,234,425

CREDITORS

Amounts falling due after more than one
year

7

(1,017,500

)

(1,045,000

)

PROVISIONS FOR LIABILITIES

(20,474

)

(20,474

)

NET ASSETS

267,010

168,951

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

8

87,284

Retained earnings

179,626

81,567

SHAREHOLDERS' FUNDS

267,010

168,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2020 and were signed by:

B Singh - Director

1.	STATUTORY INFORMATION

Shelton Estates (Cambs) Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

and 31 October 2019

2,750,000

NET BOOK VALUE

At 31 October 2019

2,750,000

At 31 October 2018

2,750,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

Trade debtors

5,178

1,534

Other debtors

13,571

10,596

18,749

12,130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

Bank loans and overdrafts

110,000

Payments on account

1,313

1,336

Trade creditors

1,500

1,410

Taxation and social security

23,001

8,471

Other creditors

1,348,816

1,424,319

1,484,630

1,545,536

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.10.19

31.10.18

£

Bank loans

1,017,500

1,045,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

577,500

605,000

8.

RESERVES

Fair

value

reserve

£

At 1 November 2018

and 31 October 2019

87,284

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2019 and

31 October 2018:

31.10.19

31.10.18

£

B Singh

Balance outstanding at start of year

(1,214,637

)

(1,214,637

)

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(1,214,637

)

(1,214,637

)

The above loans are interest free and repayable upon demand.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is B Singh.

The ultimate controlling party is B Singh.

Shelton Estates (Cambs) Ltd - Accounts to registrar (filleted) - small 18.2

Shelton Estates (Cambs) Ltd - Accounts to registrar (filleted) - small 18.2