Registration number: 01810306

Shield Woodworking Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Shield Woodworking Limited

(Registration number: 01810306)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	401,933	423,653
Current assets
Stocks	5	98,305	93,500
Debtors	6	426,629	368,087
Cash at bank and in hand		153,821	158,237
		678,755	619,824
Creditors: Amounts falling due within one year	7	(190,527)	(242,436)
Net current assets		488,228	377,388
Total assets less current liabilities		890,161	801,041
Provisions for liabilities		(13,972)	(8,339)
Net assets		876,189	792,702
Capital and reserves
Called up share capital		51,031	51,031
Retained earnings		825,158	741,671
Shareholders' funds		876,189	792,702

Shield Woodworking Limited

(Registration number: 01810306)
Balance Sheet as at 31 March 2025

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.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2025 and signed on its behalf by:
 

Mr A Shadbolt Director

Mr D Shadbolt Director

Shield Woodworking Limited

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

1	General information

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

The address of its registered office is:
Station Road
Kingham
Chipping Norton
Oxfordshire
OX7 6SX

These financial statements were authorised for issue by the Board on 23 September 2025.

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

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

Going concern

The directors are confident that the business, through the bank reserves and the trading activity of the company, has adequate resources and accordingly the company has continued to prepare its financial statements on a going concern basis.

Shield Woodworking Limited

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

Key sources of estimation uncertainty

In the application of the company's accounting policies. the director(s) are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 revision and future periods if the revision affects both current and future periods..

Revenue recognition

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

The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the groups activities.

The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.
 

Government grants

Government grants are accrued on a systematic basis over the period that the related costs have been recognised. Where the costs have already been incurred then government grants are credited to the profit and loss account in full.

Tax

The tax expense for the period comprises current and deferred 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.

Shield Woodworking Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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
Land and buildings	2% - 10% straight line
Fixtures, fittings and equipment	20% straight line
Motor vehicles	25% reducing balance
Other property, plant and equipment	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately 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.

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

Shield Woodworking Limited

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

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provision are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Share capital

Dividends and other distributions to the equity holders of the company are recognised as a liability in the statement of changes in equity in the period in which the dividend and other distributions are approved by the shareholders.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Shield Woodworking Limited

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

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

 Recognition and measurement
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 profit and loss account.
Impairment
Financial instruments are assessed for impairment at the end of each reporting period.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 19 (2024 - 23).

4	Tangible assets

	Land and buildings £	Fixtures, fittings and equipment £	Other property, plant and equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	498,653	31,510	232,713	185,881	948,757
Additions	7,323	2,145	3,363	-	12,831
At 31 March 2025	505,976	33,655	236,076	185,881	961,588
Depreciation
At 1 April 2024	169,030	26,235	205,386	124,453	525,104
Charge for the year	9,685	1,837	7,672	15,357	34,551
At 31 March 2025	178,715	28,072	213,058	139,810	559,655
Carrying amount
At 31 March 2025	327,261	5,583	23,018	46,071	401,933
At 31 March 2024	329,623	5,275	27,327	61,428	423,653

Included within the net book value of land and buildings above is £12,425 (2024 - £6,916) in respect of property improvements and £314,836 (2024 - £322,707) in respect of freehold land and buildings.
 

Shield Woodworking Limited

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

5

Stocks

	2025 £	2024 £
Raw materials and consumables	59,740	58,000
Work in progress	38,565	35,500
	98,305	93,500

6

Debtors

	Note	2025 £	2024 £
Trade debtors		173,952	170,606
Amounts owed by related parties	9	150,000	-
Other debtors		99,029	194,162
Prepayments		3,648	3,319
		426,629	368,087

7

Creditors

Due within one year	Note	2025 £	2024 £
Loans and borrowings	8	-	6,830
Trade creditors		17,696	50,744
Social security and other taxes		46,111	50,114
Other creditors		32,718	122,901
Accruals		6,497	6,140
Corporation tax liability		87,505	5,707
		190,527	242,436