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Registration number: 10335214

SHW Holdings Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

SHW Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

SHW Holdings Ltd

Company Information

Director

S H Wilson

Company secretary

S H Wilson

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

SHW Holdings Ltd

(Registration number: 10335214)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,747

1,874

Investment property

5

1,000,707

669,702

 

1,016,454

671,576

Current assets

 

Debtors

6

(287,250)

135

Cash at bank and in hand

 

6,180

1,768

 

(281,070)

1,903

Creditors: Amounts falling due within one year

7

(14,141)

(276,093)

Net current liabilities

 

(295,211)

(274,190)

Total assets less current liabilities

 

721,243

397,386

Creditors: Amounts falling due after more than one year

7

(450,324)

(450,401)

Provisions for liabilities

(82,751)

-

Net assets/(liabilities)

 

188,168

(53,015)

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

248,254

-

Retained earnings

(60,186)

(53,115)

Shareholders' funds/(deficit)

 

188,168

(53,015)

 

SHW Holdings Ltd

(Registration number: 10335214)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 February 2025
 

.........................................
S H Wilson
Company secretary and director

 

SHW Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

SHW Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Fixtures and Fittings

Reducing balance 10%

Short leasehold

5 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any
difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit
or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

SHW Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

SHW Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

-

3,254

3,254

Additions

3,250

12,786

16,036

At 31 August 2024

3,250

16,040

19,290

Depreciation

At 1 September 2023

-

1,380

1,380

Charge for the year

650

1,513

2,163

At 31 August 2024

650

2,893

3,543

Carrying amount

At 31 August 2024

2,600

13,147

15,747

At 31 August 2023

-

1,874

1,874

Included within the net book value of land and buildings above is £2,600 (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Investment properties

2024
£

At 1 September

669,702

Fair value adjustments

331,005

At 31 August

1,000,707

There has been no valuation of investment property by an independent valuer.

6

Debtors

 

SHW Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

(287,385)

-

Taxation and social security

 

35

35

Other debtors

 

100

100

 

(287,250)

135

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

-

263,385

Other creditors

 

3,349

2,050

Director loan account

 

10,792

10,658

 

14,141

276,093

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

450,324

450,401

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

450,324

450,401

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

263,385

 

SHW Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Simon H Wilson Ltd (a company controlled by Mr S Wilson - director)

 

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

263,385

263,385

Advanced

34,000

34,000

Repaid

(10,000)

(10,000)

At end of period

287,385

287,385

2023

Entities with joint control or significant influence
£

Total
£

At start of period

249,385

249,385

Advanced

14,000

14,000

At end of period

263,385

263,385

Terms of loans from related parties

No interest is charged on the loan and there is no repayment date.