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REGISTERED NUMBER: 00091349 (England and Wales)















PRICE SHEPSHED LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PRICE SHEPSHED LIMITED (REGISTERED NUMBER: 00091349)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PRICE SHEPSHED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C S Price
H A S Price
R J W Price





REGISTERED OFFICE: c/o Abbott & Co (Newark) Ltd
Newark Boiler Works
Northern Road
Newark
Nottinghamshire
NG24 2EJ





REGISTERED NUMBER: 00091349 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

PRICE SHEPSHED LIMITED (REGISTERED NUMBER: 00091349)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,575,409 1,285,266
Investment property 5 2,113,725 513,725
3,689,134 1,798,991

CURRENT ASSETS
Debtors 6 5,174 17,456
Cash at bank 344,578 693,250
349,752 710,706
CREDITORS
Amounts falling due within one year 7 53,819 81,396
NET CURRENT ASSETS 295,933 629,310
TOTAL ASSETS LESS CURRENT LIABILITIES 3,985,067 2,428,301

PROVISIONS FOR LIABILITIES 459,031 38,210
NET ASSETS 3,526,036 2,390,091

CAPITAL AND RESERVES
Called up share capital 8 195,057 195,057
Fair value reserve 1,995,900 395,900
Retained earnings 1,335,079 1,799,134
SHAREHOLDERS' FUNDS 3,526,036 2,390,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 and authorised for issue by the Board of Directors and authorised for issue on 27 September 2024 and were signed on its behalf by:





H A S Price - Director


PRICE SHEPSHED LIMITED (REGISTERED NUMBER: 00091349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Price Shepshed 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 presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable (excluding VAT) and the profits derived from the company's investment in the Full Moon at Morton LLP.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income statement and the revaluation reserve. No depreciation is provided in respect of investment properties.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the 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 statement of financial position date.


PRICE SHEPSHED LIMITED (REGISTERED NUMBER: 00091349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments
Listed investments are included in the balance sheet at the lower of cost and fair value.

Loans to associates and other investments are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. FIXED ASSET INVESTMENTS
Interest Interest
in in Other
subsidiary associate investments Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 505,477 37 779,752 1,285,266
Additions 39,230 - 260,519 299,749
Disposals - - (6,621 ) (6,621 )
Revaluations - - (2,985 ) (2,985 )
At 31 March 2024 544,707 37 1,030,665 1,575,409
NET BOOK VALUE
At 31 March 2024 544,707 37 1,030,665 1,575,409
At 31 March 2023 505,477 37 779,752 1,285,266

Cost or valuation at 31 March 2024 is represented by:

Interest Interest
in in Other
subsidiary associate investments Totals
£    £    £    £   
Cost 544,707 37 1,030,665 1,575,409

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 513,725
Revaluations 1,600,000
At 31 March 2024 2,113,725
NET BOOK VALUE
At 31 March 2024 2,113,725
At 31 March 2023 513,725

PRICE SHEPSHED LIMITED (REGISTERED NUMBER: 00091349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

The investment properties were valued by a director having considered the fair value of recent, comparable property sales in the local area.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,988 14,379
VAT 186 -
Prepayments and accrued income - 3,077
5,174 17,456

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,602 19,824
Amounts owed to participating interests 37,154 35,908
Taxation - 15,226
VAT - 3,491
Accruals and deferred income 3,063 6,947
53,819 81,396

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
195,057 Ordinary £1 195,057 195,057