Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3102022-04-01falseNo description of principal activity0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10796315 2022-04-01 2023-03-31 10796315 2021-04-01 2022-03-31 10796315 2023-03-31 10796315 2022-03-31 10796315 c:Director1 2022-04-01 2023-03-31 10796315 d:CurrentFinancialInstruments 2023-03-31 10796315 d:CurrentFinancialInstruments 2022-03-31 10796315 d:Non-currentFinancialInstruments 2023-03-31 10796315 d:Non-currentFinancialInstruments 2022-03-31 10796315 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10796315 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10796315 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10796315 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10796315 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10796315 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 10796315 d:ShareCapital 2023-03-31 10796315 d:ShareCapital 2022-03-31 10796315 d:RetainedEarningsAccumulatedLosses 2023-03-31 10796315 d:RetainedEarningsAccumulatedLosses 2022-03-31 10796315 c:FRS102 2022-04-01 2023-03-31 10796315 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10796315 c:FullAccounts 2022-04-01 2023-03-31 10796315 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10796315 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10796315









SH1 CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SH1 CAPITAL LIMITED
REGISTERED NUMBER: 10796315

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
6,028,696
8,078,696

  
6,028,696
8,078,696

Current assets
  

Debtors: amounts falling due within one year
 5 
183,878
214,500

Cash at bank and in hand
 6 
53,251
7,712

  
237,129
222,212

Creditors: amounts falling due within one year
 7 
(4,938,244)
(3,179,870)

Net current liabilities
  
 
 
(4,701,115)
 
 
(2,957,658)

Total assets less current liabilities
  
1,327,581
5,121,038

Creditors: amounts falling due after more than one year
 8 
-
(3,965,470)

  

Net assets
  
1,327,581
1,155,568


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,327,481
1,155,468

  
1,327,581
1,155,568


Page 1

 
SH1 CAPITAL LIMITED
REGISTERED NUMBER: 10796315
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2024.


S Hussain
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SH1 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10796315.  The Company's registered office is 101 Aldridge Road, Perry Barr, Birmingham, United Kingdom, B42 2EU.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are 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

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

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.

 
2.4

Borrowing costs

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

Page 3

 
SH1 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Consolidated statement of comprehensive income.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

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

Page 4

 
SH1 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2022
8,078,696


Disposals
(2,050,000)



At 31 March 2023
6,028,696





5.


Debtors

2023
2022
£
£


Trade debtors
138,360
214,500

Prepayments and accrued income
45,518
-

183,878
214,500



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
53,251
7,712

53,251
7,712


Page 5

 
SH1 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,157,891
541,676

Corporation tax
154,515
114,166

Other taxation and social security
18,060
28,250

Other creditors
1,606,828
2,494,828

Accruals and deferred income
950
950

4,938,244
3,179,870



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
3,965,470

-
3,965,470


Bank loans are secured by a debenture between HSBC Bank PLC and SH1 Capital Limited.  The interest rate is 1.75%.  The total amount of the loan has been repaid by 3 July 2023 and is included within creditors due within one year.

Page 6

 
SH1 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,157,891
541,676


3,157,891
541,676


Amounts falling due 2-5 years

Bank loans
-
3,965,468


-
3,965,468


3,157,891
4,507,144


 
Page 7