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REGISTERED NUMBER: 03516227 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SHENANDOAH LIMITED

SHENANDOAH LIMITED (REGISTERED NUMBER: 03516227)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SHENANDOAH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mancorp (UK) Limited
J A Reader





Secretary: Accomplish Secretaries Limited





Registered office: First Floor Templeback
10 Templeback
Bristol
BS1 6FL





Registered number: 03516227 (England and Wales)





Accountants: Vistra Trust Company Limited
First Floor, Templeback
10 Temple back
Bristol
BS1 6FL

SHENANDOAH LIMITED (REGISTERED NUMBER: 03516227)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes €    €   
CURRENT ASSETS
Debtors: amounts falling due within one year 4 3,705,995 11,989
Debtors: amounts falling due after more than one
year

4

92,350,000

92,350,000
Cash at bank 21,641 43,564
96,077,636 92,405,553
CREDITORS
Amounts falling due within one year 5 (858,201 ) (39,283 )
NET CURRENT ASSETS 95,219,435 92,366,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,219,435

92,366,270

CAPITAL AND RESERVES
Called up share capital 1,471 1,471
Retained earnings 95,217,964 92,364,799
SHAREHOLDERS' FUNDS 95,219,435 92,366,270

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





Mancorp (UK) Limited - Director


SHENANDOAH LIMITED (REGISTERED NUMBER: 03516227)

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

1. STATUTORY INFORMATION

Shenandoah Limited 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.

The Company's functional and presentational currency is Euros and the financial statements have been rounded to the nearest euro (€).

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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Taxation
Taxation for the year year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. The comparatives have been restated in euros.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS
31/12/23 31/12/22
€    €   
Amounts falling due within one year:
Other debtors 3,705,995 11,989

SHENANDOAH LIMITED (REGISTERED NUMBER: 03516227)

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

4. DEBTORS - continued
31/12/23 31/12/22
€    €   
Amounts falling due after more than one year:
Long term loan receivables 92,350,000 92,350,000

Aggregate amounts 96,055,995 92,361,989

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
€    €   
Trade creditors 3,460 4,384
Taxation and social security 820,028 -
Other creditors 34,713 34,899
858,201 39,283

6. RELATED PARTY DISCLOSURES

Floal B.V. - an entity owed by the same shareholders.

During the year, loan interest of €3,694,000 (2022: €10,121) was charged to the related party. The loan is repayable with 5 years and bears interest at a fixed rate of 4% per annum.

The amount owed by the related party at the year end is €96,054,121 (2022 : €92,360,121).