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REGISTERED NUMBER: 07457137 (England and Wales)











SHAWWELL BUSINESS CENTRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SHAWWELL BUSINESS CENTRE LTD (REGISTERED NUMBER: 07457137)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SHAWWELL BUSINESS CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr G.R. Burnell
Mr M N S Burnell





REGISTERED OFFICE: Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW





REGISTERED NUMBER: 07457137 (England and Wales)





ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW

SHAWWELL BUSINESS CENTRE LTD (REGISTERED NUMBER: 07457137)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,349,865 1,349,865

CURRENT ASSETS
Debtors 9,485 10,784
Cash at bank 12,629 50,076
22,114 60,860
CREDITORS
Amounts falling due within one year 335,079 435,731
NET CURRENT LIABILITIES (312,965 ) (374,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,036,900 974,994

PROVISIONS FOR LIABILITIES 131,171 130,622
NET ASSETS 905,729 844,372

CAPITAL AND RESERVES
Called up share capital 120 120
Grant reserve 5 400,304 400,304
Retained earnings 5 505,305 443,948
SHAREHOLDERS' FUNDS 905,729 844,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SHAWWELL BUSINESS CENTRE LTD (REGISTERED NUMBER: 07457137)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 August 2024 and were signed on its behalf by:





Mr G.R. Burnell - Director


SHAWWELL BUSINESS CENTRE LTD (REGISTERED NUMBER: 07457137)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Shawwell Business Centre Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company depends upon the support of its directors to meet its day to day working capital requirements. This support is expected to continue for the foreseeable future. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of financial support.

Turnover
Turnover represents rents, service charges and utility recharges receivable during the year, exclusive of value added tax. Turnover is recognised evenly over the period of the rents.

Where rent free periods have been granted at the start of a lease the proportion of the total income expected from the lease, which relates to the rent free period, is recognised on a straight line basis over the term of the lease.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SHAWWELL BUSINESS CENTRE LTD (REGISTERED NUMBER: 07457137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Government grants
Government grants received in respect of the development of investment property have been recognised directly in the grant reserve via the statement of changes in equity.The grant reserve is a non-distributable reserve and can only be realised in the profit and loss account reserve once the property to which the grant relates has been sold.

The deferred tax charge that would arise on the release of the government grants on sale are charged against the grant reserve.

Investment properties
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transactions costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value of investment properties are included in the Profit and Loss Account in the period in which they arise.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,349,865
NET BOOK VALUE
At 31 December 2023 1,349,865
At 31 December 2022 1,349,865

The carrying value of the investment property is considered by the directors to be market value as at the balance sheet date.

SHAWWELL BUSINESS CENTRE LTD (REGISTERED NUMBER: 07457137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. RESERVES
Retained Grant
earnings reserve Totals
£    £    £   

At 1 January 2023 443,948 400,304 844,252
Profit for the year 61,357 - 61,357
At 31 December 2023 505,305 400,304 905,609

The grant reserve is a non-distributable reserve.

Included within retained earnings is £10,464 in respect of a revaluation of investment property which is non-distributable.

6. RELATED PARTY DISCLOSURES

As at the balance sheet date £200,000 was owed to the directors (2022 - £270,000) and £100,000 (2022 - £135,000) was owed to family members of the directors, which is included within other creditors. These loans are interest free and repayable on demand.