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COMPANY REGISTRATION NUMBER: 5046023
SHAW & RHODES HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2023
SHAW & RHODES HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
SHAW & RHODES HOLDINGS LIMITED
BALANCE SHEET
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
3,163,441
3,163,441
Investments
5
1,077,000
1,151,435
------------
------------
4,240,441
4,314,876
Current assets
Debtors
6
35,109
42,372
Cash at bank and in hand
843,091
551,051
------------
------------
878,200
593,423
Creditors: amounts falling due within one year
7
( 425,432)
( 131,077)
------------
------------
Net current assets
452,768
462,346
------------
------------
Total assets less current liabilities
4,693,209
4,777,222
Provisions
( 23,246)
( 31,019)
------------
------------
Net assets
4,669,963
4,746,203
------------
------------
Capital and reserves
Called up share capital
9
3,601
3,601
Profit and loss account
4,666,362
4,742,602
------------
------------
Shareholders funds
4,669,963
4,746,203
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
J H Rhodes
Director
Company registration number: 5046023
SHAW & RHODES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1. General information
The company is a private company limited by shares, registration number 5046023 and registered in England and Wales. The address of the registered office is Victoria Buildings, Albert Street, Lockwood, Huddersfield, HD1 3PR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest pound.
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.
Revenue recognition
Turnover comprises the value of rental income receivable excluding value added tax. Income is also received from the recharge of other costs and from Ofgem in respect of solar panels. Interest and dividends are received on investments. All income is recognised when entitlement has occurred.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment properties
FRS 102 requires properties held for investment to be included in the Balance Sheet at their fair value in accordance with section 16 of FRS102. The director considers that to comply with this requirement annually would involve unjustifiable expense and therefore the investment properties are continuing to be stated at cost.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in other loans represents peer to peer lending in a portfolio of loans secured against property. Such investments are recognised at cost.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Freehold property
Leasehold property
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
2,998,560
164,881
3,163,441
------------
------------
------------
Depreciation
At 1 February 2022 and 31 January 2023
------------
------------
------------
Carrying amount
At 31 January 2023
2,998,560
164,881
3,163,441
------------
------------
------------
At 31 January 2022
2,998,560
164,881
3,163,441
------------
------------
------------
5. Investments
Other investments other than loans
Other loans
Total
£
£
£
Cost
At 1 February 2022
1,118,476
32,959
1,151,435
Additions
39,776
2,002
41,778
Disposals
( 24,424)
( 33,592)
(58,016)
Revaluations
( 56,828)
( 1,369)
( 58,197)
------------
------------
------------
At 31 January 2023
1,077,000
1,077,000
------------
------------
------------
Impairment
At 1 February 2022 and 31 January 2023
------------
------------
------------
Carrying amount
At 31 January 2023
1,077,000
1,077,000
------------
------------
------------
At 31 January 2022
1,118,476
32,959
1,151,435
------------
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
24,702
28,089
Prepayments and accrued income
10,407
11,513
Other debtors
2,770
------------
------------
35,109
42,372
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
18,709
1,627
Accruals and deferred income
17,859
29,562
Corporation tax
23,765
42,544
VAT
2,351
Directors' loan account
152,323
90
Other creditors
210,425
57,254
------------
------------
425,432
131,077
------------
------------
8. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
23,246
31,019
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Fair value adjustment of financial assets
23,246
31,019
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
3,601
3,601
3,601
3,601
------------
------------
------------
------------
10. Related party transactions
Amounts due to the directors' at the year end were £152,323 (2022: £90). These loans are unsecured, interest free and repayable on demand . The parent company is Rhodes & Shaw Holdings Limited, a company registered in England & Wales. The company is controlled by J H Rhodes .