Caseware UK (AP4) 2022.0.179 2022.0.179 false32022-04-01The principal activity of the company is that of a holding company.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12297714 2022-04-01 2023-03-31 12297714 2021-04-01 2022-03-31 12297714 2023-03-31 12297714 2022-03-31 12297714 c:Director1 2022-04-01 2023-03-31 12297714 d:CurrentFinancialInstruments 2023-03-31 12297714 d:CurrentFinancialInstruments 2022-03-31 12297714 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12297714 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12297714 d:ShareCapital 2023-03-31 12297714 d:ShareCapital 2022-03-31 12297714 d:SharePremium 2023-03-31 12297714 d:SharePremium 2022-03-31 12297714 d:RetainedEarningsAccumulatedLosses 2023-03-31 12297714 d:RetainedEarningsAccumulatedLosses 2022-03-31 12297714 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12297714 c:OrdinaryShareClass1 2023-03-31 12297714 c:OrdinaryShareClass1 2022-03-31 12297714 c:OrdinaryShareClass2 2022-04-01 2023-03-31 12297714 c:OrdinaryShareClass2 2023-03-31 12297714 c:OrdinaryShareClass2 2022-03-31 12297714 c:FRS102 2022-04-01 2023-03-31 12297714 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12297714 c:FullAccounts 2022-04-01 2023-03-31 12297714 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12297714 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12297714










Shelley News Holdings Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
Shelley News Holdings Ltd
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Shelley News Holdings Ltd for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shelley News Holdings Ltd for the year ended 31 March 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Shelley News Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 7 July 2023Our work has been undertaken solely to prepare for your approval the financial statements of Shelley News Holdings Ltd  and state those matters that we have agreed to state to the Board of Directors of Shelley News Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shelley News Holdings Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Shelley News Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shelley News Holdings Ltd. You consider that Shelley News Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Shelley News Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
16 October 2023
Page 1

 
Shelley News Holdings Ltd
Registered number: 12297714

Balance Sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
850,000
850,000

  
850,000
850,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1

Cash at bank and in hand
  
5
-

  
6
1

Creditors: amounts falling due within one year
 6 
(7,523)
(29,656)

Net current liabilities
  
 
 
(7,517)
 
 
(29,655)

Total assets less current liabilities
  
842,483
820,345

  

Net assets
  
842,483
820,345


Capital and reserves
  

Called up share capital 
 7 
50
50

Share premium account
  
424,951
424,951

Profit and loss account
  
417,482
395,344

  
842,483
820,345


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
C W Shelley
Director
Date: 11 October 2023

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Shelley News Holdings Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

The Company is a private company, limited by share capital, and incorporated in England and Wales. The registered office address is: St. Andrews, Farthings Hill, Horsham, West Sussex, England, RH12 1TS.
These financial statements are presented in sterling and have been rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
Shelley News Holdings Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
850,000



At 31 March 2023
850,000





5.


Debtors

2023
2022
£
£


Other debtors
1
1

1
1


Page 4

 
Shelley News Holdings Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
3,107
1,240

Other creditors
-
24,000

Accruals and deferred income
4,416
4,416

7,523
29,656



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary A shares shares of £1 each
10
10
40 (2022 - 40) Ordinary B shares shares of £1 each
40
40

50

50



Page 5