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REGISTERED NUMBER: SC123993 (Scotland)















Financial Statements for the Year Ended 31 March 2024

for

SHIELDHILL DEVELOPMENTS LIMITED

SHIELDHILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC123993)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SHIELDHILL DEVELOPMENTS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs Elizabeth Peach Young
William G Young Jnr
John Bannatyne Young





REGISTERED OFFICE: 11 Clyde Street
Carluke
ML8 5BA





REGISTERED NUMBER: SC123993 (Scotland)





ACCOUNTANTS: G O Thomson & Co
Chartered Accountants
11 Clyde Street
Carluke
ML8 5BA

SHIELDHILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC123993)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,516 1,894

CURRENT ASSETS
Debtors 5 134,252 55,723
Cash at bank 65,802 331,124
200,054 386,847
CREDITORS
Amounts falling due within one year 6 488,308 742,356
NET CURRENT LIABILITIES (288,254 ) (355,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(286,738

)

(353,615

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (287,738 ) (354,615 )
SHAREHOLDERS' FUNDS (286,738 ) (353,615 )

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 by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





John Bannatyne Young - Director


SHIELDHILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC123993)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Shieldhill Developments Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

SHIELDHILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC123993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 3,700 4,123 7,823
DEPRECIATION
At 1 April 2023 1,806 4,123 5,929
Charge for year 378 - 378
At 31 March 2024 2,184 4,123 6,307
NET BOOK VALUE
At 31 March 2024 1,516 - 1,516
At 31 March 2023 1,894 - 1,894

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 35,976 55,000
Overton farm loan 98,276 -
VAT - 723
134,252 55,723

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Overton farm loan - 281,724
Loan 83,246 83,246
VAT 27,685 -
Directors' current accounts 375,176 375,186
Accrued expenses 2,201 2,200
488,308 742,356

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
William G Young
Balance outstanding at start of year (198,936 ) (198,936 )
Amounts repaid 198,936 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (198,936 )

SHIELDHILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC123993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs Elizabeth Peach Young
Balance outstanding at start of year (148,750 ) (148,750 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (148,750 ) (148,750 )

William G Young Jnr
Balance outstanding at start of year (13,750 ) (338,750 )
Amounts advanced 5 -
Amounts repaid (99,468 ) 325,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (113,213 ) (13,750 )

John Bannatyne Young
Balance outstanding at start of year (13,750 ) (338,750 )
Amounts advanced 5 -
Amounts repaid (99,468 ) 325,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (113,213 ) (13,750 )

8. RELATED PARTY DISCLOSURES

The directors of Shieldhill Developments Limited are also partners in The Firm of W G Young. At the year end Shieldhill Development Ltd is owed £98,275.96 from The firm of W G Young.








9. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr W G Young jnr and Mr J B Young throughout the current accounting period.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Shieldhill Developments Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shieldhill Developments Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Shieldhill Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shieldhill Developments Limited and state those matters that we have agreed to state to the Board of Directors of Shieldhill Developments Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Shieldhill Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shieldhill Developments Limited. You consider that Shieldhill Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shieldhill Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






G O Thomson & Co
Chartered Accountants
11 Clyde Street
Carluke
ML8 5BA


30 October 2024