Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292023-03-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07952675 2023-03-01 2024-02-29 07952675 2022-03-01 2023-02-28 07952675 2024-02-29 07952675 2023-02-28 07952675 c:Director1 2023-03-01 2024-02-29 07952675 c:Director2 2023-03-01 2024-02-29 07952675 c:RegisteredOffice 2023-03-01 2024-02-29 07952675 d:FurnitureFittings 2023-03-01 2024-02-29 07952675 d:FurnitureFittings 2024-02-29 07952675 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07952675 d:FreeholdInvestmentProperty 2024-02-29 07952675 d:FreeholdInvestmentProperty 3 2023-03-01 2024-02-29 07952675 d:CurrentFinancialInstruments 2024-02-29 07952675 d:CurrentFinancialInstruments 2023-02-28 07952675 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 07952675 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07952675 d:ShareCapital 2024-02-29 07952675 d:ShareCapital 2023-02-28 07952675 d:RetainedEarningsAccumulatedLosses 2024-02-29 07952675 d:RetainedEarningsAccumulatedLosses 2023-02-28 07952675 c:FRS102 2023-03-01 2024-02-29 07952675 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07952675 c:FullAccounts 2023-03-01 2024-02-29 07952675 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07952675 4 2023-03-01 2024-02-29 07952675 f:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 07952675










SHILLAND & COMPANY LIMITED
UNAUDITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




















 
SHILLAND & COMPANY LIMITED
 
 
Company Information


Directors
D A Brown 
T R Brown 




Registered number
07952675



Registered office
Bradfield Hall
Bradfield

Cullompton

Devon

EX15 2QY





 
SHILLAND & COMPANY LIMITED
Registered number: 07952675

Balance sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,498
-

Investment property
 5 
16,200,000
-

  
16,212,498
-

Current assets
  

Stocks
  
-
16,200,000

Debtors: amounts falling due within one year
 7 
19,085
21,159

Cash at bank and in hand
 8 
21,627
13

  
40,712
16,221,172

Creditors: amounts falling due within one year
 9 
(17,282,553)
(16,302,732)

Net current liabilities
  
 
 
(17,241,841)
 
 
(81,560)

Total assets less current liabilities
  
(1,029,343)
(81,560)

  

Net liabilities
  
(1,029,343)
(81,560)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,029,443)
(81,660)

  
(1,029,343)
(81,560)


Page 1

 
SHILLAND & COMPANY LIMITED
Registered number: 07952675
    
Balance sheet (continued)
As at 29 February 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 8 November 2024.




T R Brown
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SHILLAND & COMPANY LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

1.


General information

Shilland & Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradfield Hall, Bradfield, Cullompton, Devon, EX15 2QY

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.3

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20%
straight-line

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.

Page 3

 
SHILLAND & COMPANY LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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.

 
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

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
SHILLAND & COMPANY LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Tangible fixed assets







Fixtures & fittings

£



Cost or valuation


Additions
15,328



At 29 February 2024

15,328



Depreciation


Charge for the year
2,830



At 29 February 2024

2,830



Net book value



At 29 February 2024
12,498

Page 5

 
SHILLAND & COMPANY LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

5.


Investment property





Freehold investment property

£



Valuation


Transfer from stock
16,200,000



At 29 February 2024
16,200,000







6.


Stocks

29 February
28 February
2024
2023
£
£

Work in progress
-
16,200,000

-
16,200,000


Page 6

 
SHILLAND & COMPANY LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

7.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
8,033
11,795

Prepayments and accrued income
11,052
9,364

19,085
21,159



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
21,627
13

21,627
13



9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
45,009
-

Other creditors
17,231,359
16,283,885

Accruals and deferred income
6,185
18,847

17,282,553
16,302,732



10.


Related party transactions

During the prior year a company under common control of the directors and shareholders advanced funds to the company.  Interest is payable at a rate of 5% per annum on the capital balance and the loan is repayable on demand.  At the balance sheet date the company owed £17,052,059 (2023 - £16,242,064).

 
Page 7