IRIS Accounts Production v22.1.4.3 07687760 Board of Directors 1.4.21 31.3.22 31.3.22 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure076877602021-03-31076877602022-03-31076877602021-04-012022-03-31076877602020-03-31076877602020-04-012021-03-31076877602021-03-3107687760ns16:EnglandWales2021-04-012022-03-3107687760ns15:PoundSterling2021-04-012022-03-3107687760ns11:Director12021-04-012022-03-3107687760ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3107687760ns11:SmallEntities2021-04-012022-03-3107687760ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-3107687760ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3107687760ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3107687760ns11:AbridgedAccounts2021-04-012022-03-310768776012021-04-012022-03-3107687760ns11:OrdinaryShareClass12021-04-012022-03-3107687760ns11:Director22021-04-012022-03-3107687760ns11:Director32021-04-012022-03-3107687760ns11:Director42021-04-012022-03-3107687760ns11:RegisteredOffice2021-04-012022-03-3107687760ns6:CurrentFinancialInstruments2022-03-3107687760ns6:CurrentFinancialInstruments2021-03-3107687760ns6:Non-currentFinancialInstruments2022-03-3107687760ns6:Non-currentFinancialInstruments2021-03-3107687760ns6:ShareCapital2022-03-3107687760ns6:ShareCapital2021-03-3107687760ns6:RetainedEarningsAccumulatedLosses2022-03-3107687760ns6:RetainedEarningsAccumulatedLosses2021-03-310768776012021-04-012022-03-3107687760ns6:NetGoodwill2021-04-012022-03-3107687760ns6:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3107687760ns6:FurnitureFittings2021-04-012022-03-3107687760ns6:ComputerEquipment2021-04-012022-03-3107687760ns6:AcceleratedTaxDepreciationDeferredTax2022-03-3107687760ns6:AcceleratedTaxDepreciationDeferredTax2021-03-3107687760ns6:DeferredTaxation2021-03-3107687760ns6:DeferredTaxation2021-04-012022-03-3107687760ns6:DeferredTaxation2022-03-3107687760ns11:OrdinaryShareClass12022-03-31
REGISTERED NUMBER: 07687760 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

SHENWARD (LEEDS) LIMITED

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


SHENWARD (LEEDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R Dewedi
Mrs S Dewedi
S Dewedi
Mrs S Dewedi





REGISTERED OFFICE: Josephs Well Suite 2C
Hanover Walk
Leeds
LS3 1AB





REGISTERED NUMBER: 07687760 (England and Wales)





ACCOUNTANTS: Shenward LLP
Chartered Accountants & Business Advisors
Summit House
Woodland Park
Bradford Road
Cleckheaton
West Yorkshire
BD19 6BW

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 84,000 98,000
Tangible assets 6 8,764 11,499
92,764 109,499

CURRENT ASSETS
Debtors 7 66,724 55,217
Cash at bank 77,462 114,657
144,186 169,874
CREDITORS
Amounts falling due within one year 61,058 71,780
NET CURRENT ASSETS 83,128 98,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,892

207,593

CREDITORS
Amounts falling due after more than one year (570 ) (50,570 )

PROVISIONS FOR LIABILITIES 8 (1,709 ) (2,233 )

ACCRUALS AND DEFERRED INCOME - (10,000 )
NET ASSETS 173,613 144,790

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 173,513 144,690
SHAREHOLDERS' FUNDS 173,613 144,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 August 2022 and were signed on its behalf by:





S Dewedi - Director


SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Shenward (Leeds) 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.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Details of these judgements can be found in the accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the income statement.

Impairment of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party,

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recorded at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. ACCOUNTING POLICIES - continued

Amounts recoverable on contracts
In preparing the financial statements, the directors are required to make judgements and estimates relating to unbilled revenue based on the contractual right to receive revenue. This valuation involves estimating the recoverable amount of any unbilled time recorded and other work performed on behalf of clients.

Provisions for liabilities
Provisions are made when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021
and 31 March 2022 140,000
AMORTISATION
At 1 April 2021 42,000
Amortisation for year 14,000
At 31 March 2022 56,000
NET BOOK VALUE

At 31 March 2022 84,000
At 31 March 2021 98,000

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021 17,852
Additions 917
At 31 March 2022 18,769
DEPRECIATION
At 1 April 2021 6,353
Charge for year 3,652
At 31 March 2022 10,005
NET BOOK VALUE
At 31 March 2022 8,764
At 31 March 2021 11,499

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 21,000 920

Included within debtors falling due after more than one year is £21,000 (2021: £920) owed by Shenward Group Holdings Limited, the company's parent company. The maximum balance during the current and previous period was £21,000.

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 1,709 2,233

Deferred
tax
£   
Balance at 1 April 2021 2,233
Credit to Income Statement during year (524 )
Balance at 31 March 2022 1,709

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

SHENWARD (LEEDS) LIMITED (REGISTERED NUMBER: 07687760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. ULTIMATE PARENT COMPANY

The company is a subsidiary undertaking of Shenward Group Holdings Limited, a company registered in England & Wales.

Shenward LLP is regarded by the directors as being the company's ultimate parent, a limited liability partnership registered in England & Wales.