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Registered number: 10957260
Shawford Projects Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Garrett Adam Accountants Limited
ACCA
3 Johnsons Barns
Waterworks Road
Petersfield
Hampshire
GU32 2BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10957260
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 261,363 35,739
261,363 35,739
CURRENT ASSETS
Stocks 6 2,945 10,022
Debtors 7 166,183 208,888
Cash at bank and in hand 50,597 125,092
219,725 344,002
Creditors: Amounts Falling Due Within One Year 8 (98,293 ) (115,257 )
NET CURRENT ASSETS (LIABILITIES) 121,432 228,745
TOTAL ASSETS LESS CURRENT LIABILITIES 382,795 264,484
Creditors: Amounts Falling Due After More Than One Year 9 (103,670 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (1,272 ) (2,900 )
NET ASSETS 277,853 261,584
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 277,753 261,484
SHAREHOLDERS' FUNDS 277,853 261,584
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr T Pinnell
Director
Mr D Diment
Director
08/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shawford Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10957260 . The registered office is 3 Johnsons Barns, Waterworks Road, Petersfield, Hampshire, GU32 2BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 22,000
As at 30 September 2024 22,000
Amortisation
As at 1 October 2023 22,000
As at 30 September 2024 22,000
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 October 2023 23,597 7,316 32,154 -
Additions 225,000 - - 7,423
As at 30 September 2024 248,597 7,316 32,154 7,423
Depreciation
As at 1 October 2023 - 4,325 24,162 -
Provided during the period - 1,358 4,082 746
As at 30 September 2024 - 5,683 28,244 746
Net Book Value
As at 30 September 2024 248,597 1,633 3,910 6,677
As at 1 October 2023 23,597 2,991 7,992 -
Computer Equipment Total
£ £
Cost
As at 1 October 2023 5,846 68,913
Additions - 232,423
As at 30 September 2024 5,846 301,336
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 October 2023 4,687 33,174
Provided during the period 613 6,799
As at 30 September 2024 5,300 39,973
Net Book Value
As at 30 September 2024 546 261,363
As at 1 October 2023 1,159 35,739
6. Stocks
2024 2023
£ £
Work in progress 2,945 10,022
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 161,068 205,864
Prepayments and accrued income 3,085 3,024
Other debtors 2,030 -
166,183 208,888
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 22,497 31,679
Bank loans and overdrafts 7,665 -
Corporation tax 17,114 53,012
Other taxes and social security 1,009 16,134
VAT 10,711 8,126
Other creditors 35,642 5,056
Accruals and deferred income 3,655 1,250
98,293 115,257
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 103,670 -
10. Deferred Taxation
The deferred tax has been calculated at the effective rate of 21% (2023:24%)
The deferred tax provision is expected to reverse over a number of years as accelerated capital allowances reduce.
2024 2023
£ £
Other timing differences 1,272 2,900
Page 5
Page 6
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 October 2023 2,900 2,900
Reversals (1,628 ) (1,628)
Balance at 30 September 2024 1,272 1,272
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6