Company Registration No. 08867803 (England and Wales)
Shenton Homes Ltd
Unaudited financial statements
for the year ended 28 March 2024
Pages for filing with the registrar
Shenton Homes Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Shenton Homes Ltd
Statement of financial position
As at 28 March 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,440
1,440
Current assets
Debtors
4
217,537
235,747
Cash at bank and in hand
90
549
217,627
236,296
Creditors: amounts falling due within one year
5
(188,010)
(204,761)
Net current assets
29,617
31,535
Total assets less current liabilities
31,057
32,975
Creditors: amounts falling due after more than one year
6
(46,234)
(46,234)
Net liabilities
(15,177)
(13,259)
Capital and reserves
Called up share capital
360
360
Profit and loss reserves
(15,537)
(13,619)
Total equity
(15,177)
(13,259)
Shenton Homes Ltd
Statement of financial position (continued)
As at 28 March 2024
2

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
C J Shenton
Director
Company Registration No. 08867803 (England and Wales)
Shenton Homes Ltd
Notes to the financial statements
For the year ended 28 March 2024
3
1
Accounting policies
Company information

Shenton Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Shenton House, 3 Oxford Court, Manchester, M2 3WQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries is initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Shenton Homes Ltd
Notes to the financial statements (continued)
For the year ended 28 March 2024
1
Accounting policies (continued)
4
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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. Amounts 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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (excluding non-remunerated directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,440
1,440
Shenton Homes Ltd
Notes to the financial statements (continued)
For the year ended 28 March 2024
5
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
217,140
235,350
Other debtors
397
397
217,537
235,747

Included within other debtors is £397 (2023: £397) due from other related parties, as detailed in the related party note.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
4,601
Amounts owed to group undertakings
177,920
191,320
Taxation and social security
200
200
Other creditors
9,890
8,640
188,010
204,761

Included within other creditors is £7,440 (2023: £6,590) due from other related parties, as detailed in the related party note.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
46,234
46,234
7
Related party transactions

The below figures represent outstanding amounts owed to companies with the same management. The amounts have been included in debtors / creditors as appropriate.

2024
2023
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
177,920
191,320
Other related parties
7,440
6,590
Shenton Homes Ltd
Notes to the financial statements (continued)
For the year ended 28 March 2024
7
Related party transactions (continued)
6

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
217,140
235,350
Other related parties
397
397
8
Parent company

Shenton Homes Ltd is wholly owned subsidiary of Shenton Property Ltd.

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