Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseleasing of property, plant and equipment04truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01103878 2022-04-01 2023-03-31 01103878 2021-04-01 2022-03-31 01103878 2023-03-31 01103878 2022-03-31 01103878 2021-04-01 01103878 c:Director2 2022-04-01 2023-03-31 01103878 d:Buildings 2022-04-01 2023-03-31 01103878 d:Buildings 2023-03-31 01103878 d:Buildings 2022-03-31 01103878 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01103878 d:PlantMachinery 2022-04-01 2023-03-31 01103878 d:PlantMachinery 2023-03-31 01103878 d:PlantMachinery 2022-03-31 01103878 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01103878 d:MotorVehicles 2022-04-01 2023-03-31 01103878 d:MotorVehicles 2023-03-31 01103878 d:MotorVehicles 2022-03-31 01103878 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01103878 d:FurnitureFittings 2022-04-01 2023-03-31 01103878 d:FurnitureFittings 2023-03-31 01103878 d:FurnitureFittings 2022-03-31 01103878 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01103878 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01103878 d:CurrentFinancialInstruments 2023-03-31 01103878 d:CurrentFinancialInstruments 2022-03-31 01103878 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01103878 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01103878 d:ShareCapital 2023-03-31 01103878 d:ShareCapital 2022-03-31 01103878 d:RetainedEarningsAccumulatedLosses 2023-03-31 01103878 d:RetainedEarningsAccumulatedLosses 2022-03-31 01103878 c:OrdinaryShareClass1 2022-04-01 2023-03-31 01103878 c:OrdinaryShareClass1 2023-03-31 01103878 c:OrdinaryShareClass1 2022-03-31 01103878 c:FRS102 2022-04-01 2023-03-31 01103878 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01103878 c:FullAccounts 2022-04-01 2023-03-31 01103878 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01103878 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01103878 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 01103878 2 2022-04-01 2023-03-31 01103878 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01103878









SHINEHILL (ASSETS) LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
SHINEHILL (ASSETS) LIMITED
REGISTERED NUMBER: 01103878

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
120,591
126,603

Investments
 5 
99
99

  
120,690
126,702

Current assets
  

Debtors: amounts falling due within one year
 6 
344,105
331,677

Cash at bank and in hand
  
30,723
42,419

  
374,828
374,096

Creditors: amounts falling due within one year
 7 
(768)
(782)

Net current assets
  
 
 
374,060
 
 
373,314

Total assets less current liabilities
  
494,750
500,016

Provisions for liabilities
  

Deferred tax
 8 
(9,620)
(9,720)

  
 
 
(9,620)
 
 
(9,720)

Net assets
  
485,130
490,296


Capital and reserves
  

Called up share capital 
 9 
15,100
15,100

Profit and loss account
  
470,030
475,196

  
485,130
490,296


Page 1

 
SHINEHILL (ASSETS) LIMITED
REGISTERED NUMBER: 01103878
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 on 21 November 2023.




Leslie Edgley
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SHINEHILL (ASSETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is registered in England and Wales. The company's registered office is 127 Ettingshall Road, Wolverhampton, West Midlands, WV2 2JP. The principal activity of the company continues to be that of the leasing of property, plant and equipment.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

Page 3

 
SHINEHILL (ASSETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
straight line basis over 25 years
Plant and machinery
-
10% reducing balance basis
Motor vehicles
-
25% reducing balance basis
Fixtures and fittings
-
15% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SHINEHILL (ASSETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are made where 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 profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 4).

Page 5

 
SHINEHILL (ASSETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
162,321
15,614
3,050
1,388
182,373



At 31 March 2023

162,321
15,614
3,050
1,388
182,373



Depreciation


At 1 April 2022
45,479
6,962
2,181
1,149
55,771


Charge for the year on owned assets
4,893
865
217
36
6,011



At 31 March 2023

50,372
7,827
2,398
1,185
61,782



Net book value



At 31 March 2023
111,949
7,787
652
203
120,591



At 31 March 2022
116,842
8,653
869
239
126,603

Page 6

 
SHINEHILL (ASSETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
99



At 31 March 2023
99





6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
344,105
331,677

344,105
331,677



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
118
182

Accruals and deferred income
650
600

768
782


Page 7

 
SHINEHILL (ASSETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
(9,720)
(11,335)


Charged to profit or loss
100
1,615



At end of year
(9,620)
(9,720)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Property revaluation
9,620
9,720

9,620
9,720


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



15,100 (2022 - 15,100) Ordinary shares of £1.00 each
15,100
15,100



10.


Controlling party

The controlling interest in the company is held by Leslie Edgley.

 
Page 8