Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30false2022-05-01No description of principal activity3433truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04998542 2022-05-01 2023-04-30 04998542 2021-05-01 2022-04-30 04998542 2023-04-30 04998542 2022-04-30 04998542 1 2022-05-01 2023-04-30 04998542 d:Director5 2022-05-01 2023-04-30 04998542 c:Buildings 2022-05-01 2023-04-30 04998542 c:Buildings 2023-04-30 04998542 c:Buildings 2022-04-30 04998542 c:Buildings c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04998542 c:PlantMachinery 2022-05-01 2023-04-30 04998542 c:PlantMachinery 2023-04-30 04998542 c:PlantMachinery 2022-04-30 04998542 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04998542 c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04998542 c:CurrentFinancialInstruments 2023-04-30 04998542 c:CurrentFinancialInstruments 2022-04-30 04998542 c:Non-currentFinancialInstruments 2023-04-30 04998542 c:Non-currentFinancialInstruments 2022-04-30 04998542 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 04998542 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-30 04998542 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 04998542 c:Non-currentFinancialInstruments c:AfterOneYear 2022-04-30 04998542 c:ShareCapital 2023-04-30 04998542 c:ShareCapital 2022-04-30 04998542 c:RetainedEarningsAccumulatedLosses 2023-04-30 04998542 c:RetainedEarningsAccumulatedLosses 2022-04-30 04998542 d:OrdinaryShareClass1 2022-05-01 2023-04-30 04998542 d:OrdinaryShareClass1 2023-04-30 04998542 d:OrdinaryShareClass1 2022-04-30 04998542 d:FRS102 2022-05-01 2023-04-30 04998542 d:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 04998542 d:FullAccounts 2022-05-01 2023-04-30 04998542 d:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04998542 c:WithinOneYear 2023-04-30 04998542 c:WithinOneYear 2022-04-30 04998542 c:BetweenOneFiveYears 2023-04-30 04998542 c:BetweenOneFiveYears 2022-04-30 04998542 e:PoundSterling 2022-05-01 2023-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04998542










SHELTON DEVELOPMENT SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
SHELTON DEVELOPMENT SERVICES LIMITED
REGISTERED NUMBER: 04998542

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,055
46,911

  
35,055
46,911

Current Assets
  

Debtors: amounts falling due within one year
 5 
1,306,209
1,246,220

Cash at bank and in hand
  
24,417
347,029

Current liablities
  
1,330,626
1,593,249

Creditors: amounts falling due within one year
 6 
(1,603,012)
(1,114,090)

Net current (liabilities)/assets
  
 
 
(272,386)
 
 
479,159

Total assets less current liabilities
  
(237,331)
526,070

Creditors: amounts falling due after more than one year
 7 
(17,497)
(357,689)

  

Net (liabilities)/assets
  
(254,828)
168,381


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
(264,828)
158,381

Shareholders funds
  
(254,828)
168,381


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
SHELTON DEVELOPMENT SERVICES LIMITED
REGISTERED NUMBER: 04998542

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023


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



P J Cusk
Director

Date: 31 January 2024

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

Page 2

 
SHELTON DEVELOPMENT SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Astra House, Astra Works, The Common, Cranleigh, Surrey, England, GU6 8RZ.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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.

Page 3

 
SHELTON DEVELOPMENT SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land and buildings
-
10% Straight line
Plant and machinery
-
20-25% Straight line

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.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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.

Page 4

 
SHELTON DEVELOPMENT SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
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

Financial instruments

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2022 - 33).

Page 5

 
SHELTON DEVELOPMENT SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Land and buildings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 May 2022
87,389
193,981
281,370


Additions
-
1,269
1,269



At 30 April 2023

87,389
195,250
282,639



Depreciation


At 1 May 2022
87,389
147,070
234,459


Charge for the year
-
13,125
13,125



At 30 April 2023

87,389
160,195
247,584



Net book value



At 30 April 2023
-
35,055
35,055



At 30 April 2022
-
46,911
46,911


5.


Debtors

2023
2022
£
£


Trade debtors
113,604
111,190

Other debtors
1,139,025
1,051,759

Prepayments and accrued income
53,580
83,271

1,306,209
1,246,220


Page 6

 
SHELTON DEVELOPMENT SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
841
-

Bank loans
182,298
-

Trade creditors
88,467
37,572

Corporation tax
21,800
57,178

Other taxation and social security
232,526
70,322

Obligations under finance lease and hire purchase contracts
10,191
8,638

Other creditors
-
7,105

Accruals and deferred income
1,066,889
933,275

1,603,012
1,114,090



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
330,000

Net obligations under finance leases and hire purchase contracts
17,497
27,689

17,497
357,689



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



9.


Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
35,370
51,483

Later than 1 year and not later than 5 years
11,599
27,220

46,969
78,703

Page 7

 
SHELTON DEVELOPMENT SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Related party transactions

The company was under the control of P Shelton throughout the current and previous year.
Included in other debtors is £850,114 (2022: £776,754) owed by one of the directors, P Shelton, to the company.


11.


Post balance sheet events

On 12 May 2023 the entire issued share capital was acquired by Valsoft UK Holdings Limited.


Page 8