Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falsebridging finance22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12134898 2023-02-01 2024-01-31 12134898 2022-02-01 2023-01-31 12134898 2024-01-31 12134898 2023-01-31 12134898 2022-02-01 12134898 c:Director1 2023-02-01 2024-01-31 12134898 d:MotorVehicles 2023-02-01 2024-01-31 12134898 d:MotorVehicles 2024-01-31 12134898 d:MotorVehicles 2023-01-31 12134898 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12134898 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 12134898 d:OfficeEquipment 2023-02-01 2024-01-31 12134898 d:OfficeEquipment 2024-01-31 12134898 d:OfficeEquipment 2023-01-31 12134898 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12134898 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 12134898 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12134898 d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 12134898 d:CurrentFinancialInstruments 2024-01-31 12134898 d:CurrentFinancialInstruments 2023-01-31 12134898 d:Non-currentFinancialInstruments 2024-01-31 12134898 d:Non-currentFinancialInstruments 2023-01-31 12134898 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12134898 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12134898 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12134898 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 12134898 d:ShareCapital 2024-01-31 12134898 d:ShareCapital 2023-01-31 12134898 d:RetainedEarningsAccumulatedLosses 2024-01-31 12134898 d:RetainedEarningsAccumulatedLosses 2023-01-31 12134898 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 12134898 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 12134898 c:OrdinaryShareClass1 2023-02-01 2024-01-31 12134898 c:OrdinaryShareClass1 2024-01-31 12134898 c:OrdinaryShareClass1 2023-01-31 12134898 c:OrdinaryShareClass2 2023-02-01 2024-01-31 12134898 c:OrdinaryShareClass2 2024-01-31 12134898 c:OrdinaryShareClass2 2023-01-31 12134898 c:FRS102 2023-02-01 2024-01-31 12134898 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12134898 c:FullAccounts 2023-02-01 2024-01-31 12134898 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12134898 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 12134898 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 12134898 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 12134898 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 12134898 2 2023-02-01 2024-01-31 12134898 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 12134898 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 12134898 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12134898









SHELBY LONDON LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
SHELBY LONDON LIMITED
REGISTERED NUMBER: 12134898

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
57,112
31,308

Current assets
  

Debtors: amounts falling due after more than one year
 5 
2,011,392
-

Debtors: amounts falling due within one year
 5 
4,756,789
5,573,865

Cash at bank and in hand
 6 
199,129
743,684

  
6,967,310
6,317,549

Creditors: amounts falling due within one year
 7 
(6,381,638)
(5,959,277)

Net current assets
  
 
 
585,672
 
 
358,272

Total assets less current liabilities
  
642,784
389,580

Creditors: amounts falling due after more than one year
 8 
(43,765)
-

Provisions for liabilities
  

Deferred tax
 10 
(14,278)
(7,796)

Net assets
  
584,741
381,784


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
584,739
381,782

  
584,741
381,784


Page 1

 
SHELBY LONDON LIMITED
REGISTERED NUMBER: 12134898
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.






Mr S Raphael
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Shelby London Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal activity of the company is that of providing bridging finance.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
72,780
1,224
74,004


Additions
75,150
826
75,976


Disposals
(72,780)
(575)
(73,355)



At 31 January 2024

75,150
1,475
76,625



Depreciation


At 1 February 2023
42,076
620
42,696


Charge for the year on owned assets
-
369
369


Charge for the year on financed assets
18,788
-
18,788


Disposals
(42,076)
(264)
(42,340)



At 31 January 2024

18,788
725
19,513



Net book value



At 31 January 2024
56,362
750
57,112



At 31 January 2023
30,704
604
31,308

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
56,362
-

Page 6

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
2,011,392
-


2024
2023
£
£

Due within one year

Other debtors
4,755,794
5,573,194

Prepayments and accrued income
995
671

4,756,789
5,573,865



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
199,129
743,684



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
58,082
45,029

Other taxation and social security
178
176

Obligations under finance lease and hire purchase contracts
6,330
-

Other creditors
6,295,244
5,910,448

Accruals and deferred income
21,804
3,624

6,381,638
5,959,277



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
43,765
-


Page 7

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
6,330
-

Between 1-5 years
43,765
-

50,095
-


10.


Deferred taxation




2024
2023


£

£






At beginning of year
(7,796)
(7,950)


(Charged)/released to profit or loss
(6,482)
154



At end of year
(14,278)
(7,796)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(14,278)
(7,796)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary A share of £1.00
1
1
1 (2023 - 1) Ordinary B share of £1.00
1
1

2

2


Ordinary A and Ordinary B shares rank equally in all respects with the exception of having independent dividend rights.

Page 8

 
SHELBY LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Related party transactions


2024
2023
£
£

Amounts owed to connected companies
3,903,808
3,328,951
 
Page 9