Registration number:
Shemwell (QSC) Limited
for the Year Ended 31 March 2024
Shemwell (QSC) Limited
(Registration number: 08557241)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the
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Director
Shemwell (QSC) Limited
Statement of Changes in Equity for the Year Ended 31 March 2024
Share capital |
Fair value reserve |
Profit and loss account |
Total |
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At 1 April 2023 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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At 31 March 2024 |
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Share capital |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 April 2022 |
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Profit for the year |
- |
- |
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Other comprehensive income |
- |
( |
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- |
Total comprehensive income |
- |
( |
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At 31 March 2023 |
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Shemwell (QSC) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Accounting policies |
Statutory information
Shemwell (QSC) Limited is a private company, limited by shares, domiciled in England and Wales, company number 08557241. The registered office is at Mill Close, Rotherham, S60 1BZ.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Group accounts not prepared
Revenue recognition
Turnover comprises rents receivable.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Investment properties |
not depreciated |
Shemwell (QSC) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
1 |
Accounting policies (continued) |
Investment property
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Investment properties |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Depreciation |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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The investment property was valued by the director on an open market basis as at 31 March 2024. The historical cost of the property is £155,642.
Shemwell (QSC) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Debtors |
2024 |
2023 |
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Trade debtors |
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- |
Amounts owed by group undertakings |
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Prepayments and accrued income |
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Creditors |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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- |
Other creditors |
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Accruals |
1,131 |
874 |
Other taxation and social security |
3,143 |
3,829 |
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Related party transactions |
Included in other creditors is an interest free loan of £167,000 due to Dr L J Rea, a shareholder of the holding company.
Parent and ultimate parent undertaking |
The company's ultimate parent undertaking is
The ultimate controlling party is