Shemwell (QSC) Limited 08557241 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is deriving income and gains from property Digita Accounts Production Advanced 6.30.9574.0 true true 08557241 2024-04-01 2025-03-31 08557241 2025-03-31 08557241 core:RetainedEarningsAccumulatedLosses 2025-03-31 08557241 core:RevaluationReserve 2025-03-31 08557241 core:ShareCapital 2025-03-31 08557241 core:CurrentFinancialInstruments 2025-03-31 08557241 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 08557241 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 08557241 bus:SmallEntities 2024-04-01 2025-03-31 08557241 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 08557241 bus:FilletedAccounts 2024-04-01 2025-03-31 08557241 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08557241 bus:Director2 2024-04-01 2025-03-31 08557241 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08557241 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 08557241 core:RevaluationReserve 2024-04-01 2025-03-31 08557241 core:ShareCapital 2024-04-01 2025-03-31 08557241 core:LandBuildings 2024-04-01 2025-03-31 08557241 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08557241 1 2024-04-01 2025-03-31 08557241 countries:AllCountries 2024-04-01 2025-03-31 08557241 2024-03-31 08557241 core:RetainedEarningsAccumulatedLosses 2024-03-31 08557241 core:RevaluationReserve 2024-03-31 08557241 core:ShareCapital 2024-03-31 08557241 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 08557241 2023-04-01 2024-03-31 08557241 2024-03-31 08557241 core:RetainedEarningsAccumulatedLosses 2024-03-31 08557241 core:RevaluationReserve 2024-03-31 08557241 core:ShareCapital 2024-03-31 08557241 core:CurrentFinancialInstruments 2024-03-31 08557241 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08557241 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 08557241 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08557241 core:RevaluationReserve 2023-04-01 2024-03-31 08557241 core:ShareCapital 2023-04-01 2024-03-31 08557241 2023-03-31 08557241 core:RetainedEarningsAccumulatedLosses 2023-03-31 08557241 core:RevaluationReserve 2023-03-31 08557241 core:ShareCapital 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08557241



Shemwell (QSC) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Shemwell (QSC) Limited

(Registration number: 08557241)

Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

3

-

425,000

Current assets

 

Debtors

4

417,098

97,900

Creditors: Amounts falling due within one year

5

(208,762)

(172,600)

Net current assets/(liabilities)

 

208,336

(74,700)

Total assets less current liabilities

 

208,336

350,300

Provisions for liabilities

-

(62,904)

Net assets

 

208,336

287,396

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

-

206,454

Retained earnings

208,335

80,941

Shareholders' funds

 

208,336

287,396

For the financial year ending 31 March 2025 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 13 June 2025
 

.........................................

C J Rea

Director

 

Shemwell (QSC) Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 April 2024

1

206,454

80,941

287,396

Loss for the year

-

-

(79,060)

(79,060)

Other comprehensive income

-

(206,454)

206,454

-

Total comprehensive income

-

(206,454)

127,394

(79,060)

At 31 March 2025

1

-

208,335

208,336

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 April 2023

1

206,454

63,803

270,258

Profit for the year

-

-

17,138

17,138

At 31 March 2024

1

206,454

80,941

287,396

 

Shemwell (QSC) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Statutory information

Shemwell (QSC) Limited is a private company, limited by shares, domiciled in England and Wales, company number 08557241. The registered office is at Global Technology Centre, Mill CloseRotherham, S60 1BZ.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Group accounts not prepared

The company has not prepared consolidated financial statements on the basis that it satisfies the criteria set out in section 297 of the Companies Act 2006 to qualify as a small group.

Revenue recognition

Turnover comprises rents receivable.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Investment properties

not depreciated

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 the profit and loss.

 

Shemwell (QSC) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

1

Accounting policies (continued)

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

3

Tangible assets

Investment properties
£

Cost or valuation

At 1 April 2024

425,000

Additions

145,538

Disposals

(570,538)

At 31 March 2025

-

Depreciation

Carrying amount

At 31 March 2025

-

At 31 March 2024

425,000

 

Shemwell (QSC) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Debtors

2025
£

2024
£

Trade debtors

-

10,218

Amounts owed by group undertakings

417,098

75,101

Prepayments

-

12,581

 

417,098

97,900

5

Creditors

2025
£

2024
£

Due within one year

Trade creditors

-

1,326

Other creditors

171,650

167,000

Accruals and deferred income

2,000

1,131

Taxation and social security

35,112

3,143

208,762

172,600

6

Related party transactions

Included in other creditors is an interest free loan of £167,000 due to Dr L J Rea, a shareholder of the holding company.

7

Parent and ultimate parent undertaking

The company's ultimate parent undertaking is Gravitas Property Limited, incorporated in England and Wales.

 The ultimate controlling party is L J Rea.