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REGISTERED NUMBER: 03974180 (England and Wales)



















SHIELDWAY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






SHIELDWAY LTD (REGISTERED NUMBER: 03974180)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


SHIELDWAY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr P Spitzer





SECRETARY: Mr P Spitzer





REGISTERED OFFICE: First Floor
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 03974180 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

SHIELDWAY LTD (REGISTERED NUMBER: 03974180)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 95,000 95,000
Investment property 6 626,941 626,941
721,941 721,941

CURRENT ASSETS
Debtors 7 687,394 684,458
Cash at bank 55,037 807
742,431 685,265
CREDITORS
Amounts falling due within one year 8 214,767 147,141
NET CURRENT ASSETS 527,664 538,124
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,249,605

1,260,065

CREDITORS
Amounts falling due after more than one
year

9

(826,498

)

(753,430

)

PROVISIONS FOR LIABILITIES 11 - (2,549 )
NET ASSETS 423,107 504,086

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 12 275,940 237,316
Retained earnings 147,166 266,769
423,107 504,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHIELDWAY LTD (REGISTERED NUMBER: 03974180)

BALANCE SHEET - continued
30 APRIL 2024


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

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

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





Mr P Spitzer - Director


SHIELDWAY LTD (REGISTERED NUMBER: 03974180)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

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

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio. Rental income is accounted for on an accruals basis.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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

Current or deferred taxation assets and liabilities are not discounted.

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.

SHIELDWAY LTD (REGISTERED NUMBER: 03974180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 May 2023
and 30 April 2024 95,000
NET BOOK VALUE
At 30 April 2024 95,000
At 30 April 2023 95,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 626,941
NET BOOK VALUE
At 30 April 2024 626,941
At 30 April 2023 626,941

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's director who has the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 30 April 2024 is £351,002.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 687,394 684,458

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,000
Taxation and social security 60,794 55,030
Other creditors 153,973 82,111
214,767 147,141

SHIELDWAY LTD (REGISTERED NUMBER: 03974180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 826,498 753,430

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years by
non-instalments

826,498

731,763

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 826,498 763,430

The bank loans are secured by legal charges over the company's investment properties.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 2,549

Deferred
tax
£   
Balance at 1 May 2023 2,549
Credit to Profit and Loss Account during year (2,549 )
Balance at 30 April 2024 -

Deferred tax arises from the revaluation of investment properties, reduced by the availability of tax losses carried forward.

12. RESERVES
Fair
value
reserve
£   
At 1 May 2023 237,316
Gains/(Losses) on fair value adjustment 38,624

At 30 April 2024 275,940

SHIELDWAY LTD (REGISTERED NUMBER: 03974180)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. RELATED PARTY DISCLOSURES

Other debtors include amounts aggregating £183,806 (2023: £180,826) due from related companies under common control.

Other creditors include amounts aggregating £72,987 (2023: £72,942) due to a related company under common control.