REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
SHEDDEN ASSOCIATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
SHEDDEN ASSOCIATES LIMITED |
SHEDDEN ASSOCIATES LIMITED (REGISTERED NUMBER: 07964086) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SHEDDEN ASSOCIATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 Langley Court |
Pyle Street |
Newport |
Isle of Wight |
PO30 1LA |
SHEDDEN ASSOCIATES LIMITED (REGISTERED NUMBER: 07964086) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
SHEDDEN ASSOCIATES LIMITED (REGISTERED NUMBER: 07964086) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Shedden Associates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
Disposals | ( |
) |
Impairments | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
SHEDDEN ASSOCIATES LIMITED (REGISTERED NUMBER: 07964086) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiary |
Registered office: 4 Kings Row, Armstrong Road, Maidstone, Kent, ME15 6AQ |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
(Loss)/profit for the year | ( |
) |
Associated company |
Registered office: 128 Buckingham Palace Road, London, SW1W 9SA |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Loss for the year | ( |
) | ( |
) |
On 3rd July 2022 the company sold a 40% holding in its subsidiary POD Architects Limited (POD), split equally between Jonathan Bethel Design Limited and Shedden Investments Limited, for consideration of £500,000. On 3 July 2024 the company sold a further 55% holding in POD to Shedden Investments Limited for £244 per share, being consideration totalling £40,016. |
As at the balance sheet date the company's remaining shareholding in POD was 5.33%, being 11 Ordinary A shares and 5 ordinary D shares, with a book value of £83. Based upon the recent sale to Shedden Investments Limited, the director considers the remaining shares to have a market value of £244 per share, being £3,904. |
The company's investment in Scoop La Rocca Limited, is considered to be irrecoverable and has been written down to zero. |
SHEDDEN ASSOCIATES LIMITED (REGISTERED NUMBER: 07964086) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by associates |
Jonathan Bethel Design Ltd | - | 192,708 |
POD Architects Limited | - | 2,363 |
Consideration POD shares | 40,016 | - |
Directors' current accounts | 59,773 | - |
Prepayments and accrued income |
The amount owed by associates of £Nil (2023: £50,000) was a balance due from Scoop La Rocca Limited, a company in which Shedden Associates Limited hold a 25% shareholding. The amount is considered to be irrecoverable and has been written off during the year. |
On 3rd July 2022 the company sold a 20% holding in its subsidiary POD Architects Limited to Jonathan Bethel Design Limited for deferred consideration of £250,000, which was payable by 48 equal monthly installments, ending 31st August 2026. As at the start of this accounting period 37 payments remained, totalling £192,708. Because of economic factors impacting the ongoing business of POD Architects Limited, the original consideration as been renegotiated and the balance of £192,708 written off. |
On 3 July 2024 the company sold 164 Ordinary a shares in POD Architects Limited to Shedden Investments Limited for £244 per share, being consideration totalling £40,016. The consideration is payable within six-months of the transaction date. |
The accrued income of £12,875 (2022: £5,361) relates to accrued interest on money market deposits. which subsequent to the period end has been received. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Tax |
Directors' current accounts | - | 16 |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | 10 pence | 65 | 65 |
Ordinary B | 10 pence | 33 | 33 |
Ordinary C | 10 pence | 1 | 1 |
Ordinary D | 10 pence | 1 | 1 |
100 | 100 |
SHEDDEN ASSOCIATES LIMITED (REGISTERED NUMBER: 07964086) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |