Registered number
02902288
Shaw Corporation Ltd
Filleted Accounts
31 March 2024
Shaw Corporation Ltd
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 6,533,302 6,511,624
Investment 5 1,415,272 1,315,004
7,948,574 7,826,628
Current assets
Debtors 6 202,858 63,251
Cash at bank 518,007 652,057
720,865 715,308
Creditors: amounts falling due within one year 7 (1,563,320) (1,100,530)
Net current liabilities (842,455) (385,222)
Net assets 7,106,119 7,441,406
Capital and reserves
Called up share capital 75 75
Share premium 75 75
Revaluation reserve 6,159,934 6,159,934
Profit and loss account 946,035 1,281,322
Shareholder's funds 7,106,119 7,441,406
The Directors are satisfied that the Company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The Member has not required the Company to obtain an audit in accordance with section 476 of the Act.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime within part 15 of the Companies Act 2006. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board of directors on 31 July 2024
Christopher John Shaw Martin Peters
Director Director
Shaw Corporation Ltd
Notes to the Unaudited Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared on a going concern basis under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% reducing balance
Motor vehicles 20% reducing balance
Long leasehold properties Periodic re-valuations
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Work in progress
Where the substance of the contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract services progresses to reflect the partial performance of our contractual obligation. The amount of the revenue included reflects the accrual of the right to consideration as contract services progress.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Taxation 2024 2023
£ £
Analysis
Current tax:
UK corporation tax recoverable on losses. 0 (30,906)
Deferred tax:
Origination and reversal of timing differences 0 (6,050)
Prior year adjustment 0 (103)
0 (37,059)
3 Employees 2024 2023
Number Number
4 Average number of persons employed (including Directors) 6 6
5 Tangible fixed assets
Long leasehold property Furniture, fittings and equipment Motor vehicles Total
£ £ £ £
Cost and revaluation
At 1 April 2023 6,480,126 429,441 - 6,909,567
Additions - 1,835 35,219 37,054
At 31 March 2024 6,480,126 431,276 35,219 6,946,621
Depreciation
At 1 April 2023 - 397,943 - 397,943
Charge for the year - 8,332 7,044 15,376
At 31 March 2024 - 406,275 7,044 413,319
Net book value
At 31 March 2024 6,480,126 25,001 28,175 6,533,302
At 31 March 2023 6,480,126 31,498 - 6,511,624
The Company holds two long leasehold properties. The first long leasehold property is held at the professional valuation made for the purpose of, and close to the time of, the acquisition in October 2019. The Company, as Chartered Surveyors, have reviewed the valuation and concluded that there has been no impairment of the £6,250,000 valuation as at 31 March 2024 or at the time of approval of these accounts. The Directors will in due course consider whether an updated professional valuation is required for the Balance Sheet at 31 March 2025.
The second leasehold property purchased during the year to 31 March 2022 is held at cost and Directors consider no impairment has arisen.
5 Investment in subsidiary undertaling
2024 2023
£ £
Cost
Share in Shaw (CMN) Ltd 1 1
Loan to Shaw (CMN) Ltd 1,415,271 1,315,002
At 31 March 2024 1,415,272 1,315,003
The company owns 100% of the ordinary share capital of Shaw (CMN) Limited, a company incorporated in England and Wales, Company no: 14073424.
Consolidated accounts have not been prepared as the Directors consider they would be of limited value to the Directors or Member. Set out below are summarised Balance Sheets of the Subsidiary extracted from its unaudited accountsfor the year ended 31 March 2024.
Shaw(CMN) Limited
2024 2023
Balance sheet £ £
Property in course of development 1,401,720 1,301,043
Debtors 13,552 13,961
Loan from Shaw Corporation Limited (1,415,271) (1,315,003)
Net assets 1 1
Capital and reserves
Called up share capital 1 1
Shareholder's funds 1 1
6 Debtors 2024 2023
£ £
Trade debtors 180,000 10,000
Other debtors and prepayments 22,858 22,345
Corporation tax refund - 30,906
202,858 63,251
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,054 18,295
Loan from related party 1,400,000 1,000,000
Taxation and social security costs 13,157 24,457
6 Other creditors and accruals 148,109 57,778
1,563,320 1,100,530
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 6,159,934 6,159,934
7
At 31 March 2024 6,159,934 6,159,934
9 Capital commitments
8
There were no capital commitments contracted at 31 March 2024 (2023-£0).
10 Related party transactions
9
C J Shaw is a director of Shaw Corporation (Gibraltar) Limited and Regent Enterprise Limited. Consultancy fees of £30,000 were received from Regent Enterprises Limited during the year. Consultancy fees amounting to £150,000 (2023: £150,000) were paid to Shaw Corporation (Gibraltar) Limited during the year.

During the year, the £1,000,000 unsecured loan from Regent Enterprises Limited at an interest rtae of 10% pa was repaid on 28 March 2024,a replacement and enhanced unsecured loan of £1,400,000 was taken on 28 March 2024 from Shaw Corporation (Gibraltar) Limited at an interest rate of 8.75% pa, repayable within 12 months.

Interest on the first loan of £1,000,000 amounting to £114,799 and interest on the second loan of £1,400,000 amounting to £1,370 was outstanding at 31 March 2024.
11 Controlling party
10
The entire share capital of the company is owned by Shaw Corporation (Gibraltar) Limited, a Gibraltar incorporated company of which C J Shaw is the ultimate controlling party.
12 Other information
Shaw Corporation Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
42 Langham Street
London
W1W 7AT
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