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REGISTERED NUMBER: 05262666 (England and Wales)









SHEAR DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHEAR DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: D Badham
Mrs L Badham





REGISTERED OFFICE: Fabri House
7 Ashtree Court
Woodsy Close
Cardiff
SOUTH GLAMORGAN
CF23 8RW





REGISTERED NUMBER: 05262666 (England and Wales)






SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,412 10,578

CURRENT ASSETS
Debtors 5 1,869,592 1,672,075
Cash at bank 124,269 321,727
1,993,861 1,993,802
CREDITORS
Amounts falling due within one year 6 422,584 411,085
NET CURRENT ASSETS 1,571,277 1,582,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,581,689

1,593,295

CREDITORS
Amounts falling due after more than one
year

7

(370,586

)

(489,106

)

PROVISIONS FOR LIABILITIES 9 (2,353 ) (2,339 )
NET ASSETS 1,208,750 1,101,850

CAPITAL AND RESERVES
Called up share capital 10 200 200
Capital redemption reserve - (11,410 )
Retained earnings 1,208,550 1,113,060
SHAREHOLDERS' FUNDS 1,208,750 1,101,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

BALANCE SHEET - continued
30 NOVEMBER 2024


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 11 April 2025 and were signed on its behalf by:





D Badham - Director


SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Shear Design 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.

Going concern
The directors have assessed the company's financial position and future cash flows and are satisfied that the company remains a going concern. While cash balances have decreased, this is primarily due to an increase in intercompany lending and the repayment of obligations. The directors confirm that sufficient resources are available to meet foreseeable obligations from expected future trading performance. The financial statements have therefore been prepared on a going concern basis.

Significant judgements and estimates
In the application of the company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Impairment of debtors
The company, makes an estimate of the recoverable value of trade and other debtors when assessing impairment of trade and other debtors, management considers factors including the credit worthiness of the debtor, the ageing profile of the debtor and historical experience.

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services:

Turnover is recognised at the fair value of the consideration received or receivable for the services provided to the customer during the normal course of business. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer.

SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures,fittings and equipment - 25% on reducing balance
Office equipment - 33% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised 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.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

Employee Benefits
The company provides a wide range of benefits which includes; paid holidays and defined contribution pension plans. Short term employee benefit are recognised as an expense in the profit and loss account for the period in which the service is received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures,fittings
and Office
equipment equipment Totals
£    £    £   
COST
At 1 December 2023 39,312 220,744 260,056
Additions - 3,702 3,702
At 30 November 2024 39,312 224,446 263,758
DEPRECIATION
At 1 December 2023 36,531 212,947 249,478
Charge for year 695 3,173 3,868
At 30 November 2024 37,226 216,120 253,346
NET BOOK VALUE
At 30 November 2024 2,086 8,326 10,412
At 30 November 2023 2,781 7,797 10,578

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 439,943 287,679
Amounts owed by group undertakings 1,318,342 1,274,062
Other debtors 111,307 110,334
1,869,592 1,672,075

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 138,074 157,627
Trade creditors 15,374 17,796
Taxation and social security 216,440 211,710
Other creditors 52,696 23,952
422,584 411,085

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 370,586 489,106

SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 13,496

8. SECURED DEBTS

Barclays Security Trustee Limited hold a fixed and floating charge over all the property or undertaking of the company dated 21 November 2023.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,353 2,339

Deferred
tax
£   
Balance at 1 December 2023 2,339
Accelerated capital allowances 14
Balance at 30 November 2024 2,353

The deferred tax liability of £2,353 (2023: £2,339) is due to timing differences on capital allowances. No other significant deferred tax liabilities exist.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary A £1 3 3
197 Ordinary B £1 197 197
200 200

11. TRANSACTIONS WITH DIRECTORS

As at 30 November 2024 an amount of £1,152 (2023 - nil) was owed to the directors. The balance is interest free and payable on demand and included within creditors due within one year.

A director has provided a guarantee for £120,000 to Barclays Bank UK PLC and Barclays Bank PLC.

SHEAR DESIGN LIMITED (REGISTERED NUMBER: 05262666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

12. RELATED PARTY DISCLOSURES

The company has provided an interest-free loan to Caldylell Design Limited, its parent company, amounting to £1,381,342 as of 30 November 2024 (2023: £1,274,062). The loan is unsecured and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The company is an 85% subsidiary of Caldylell Design Limited. The ultimate controlling party is D Badham, who holds an effective interest in 100% of the total issued share capital of the company through direct and indirect shareholdings.

14. CAPITAL REDEMPTION RESERVE

During the year, the Capital Redemption Reserve balance of £11,410 was reclassified to retained earnings in accordance with applicable accounting standards. This reclassification reflects the closure of the reserve as no further redemption obligations exist.

15. COMPARATIVE FIGURES

The prior year figures cover an 11-month period to 30 November 2023, while the current year covers a 12-month period.