Caseware UK (AP4) 2025.0.111 2025.0.111 2025-11-30 2025-11-30 false true true false 2024-12-01 6 4 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14502506 2024-12-01 2025-11-30 14502506 2023-12-01 2024-11-30 14502506 2025-11-30 14502506 2024-11-30 14502506 c:Director1 2024-12-01 2025-11-30 14502506 d:PlantMachinery 2024-12-01 2025-11-30 14502506 d:PlantMachinery 2025-11-30 14502506 d:PlantMachinery 2024-11-30 14502506 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 14502506 d:MotorVehicles 2024-12-01 2025-11-30 14502506 d:MotorVehicles 2025-11-30 14502506 d:MotorVehicles 2024-11-30 14502506 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 14502506 d:OfficeEquipment 2024-12-01 2025-11-30 14502506 d:OfficeEquipment 2025-11-30 14502506 d:OfficeEquipment 2024-11-30 14502506 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 14502506 d:ComputerEquipment 2024-12-01 2025-11-30 14502506 d:ComputerEquipment 2025-11-30 14502506 d:ComputerEquipment 2024-11-30 14502506 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 14502506 d:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 14502506 d:CurrentFinancialInstruments 2025-11-30 14502506 d:CurrentFinancialInstruments 2024-11-30 14502506 d:Non-currentFinancialInstruments 2025-11-30 14502506 d:Non-currentFinancialInstruments 2024-11-30 14502506 d:CurrentFinancialInstruments d:WithinOneYear 2025-11-30 14502506 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 14502506 d:Non-currentFinancialInstruments d:AfterOneYear 2025-11-30 14502506 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 14502506 d:ShareCapital 2025-11-30 14502506 d:ShareCapital 2024-11-30 14502506 d:RetainedEarningsAccumulatedLosses 2025-11-30 14502506 d:RetainedEarningsAccumulatedLosses 2024-11-30 14502506 d:AcceleratedTaxDepreciationDeferredTax 2025-11-30 14502506 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 14502506 d:TaxLossesCarry-forwardsDeferredTax 2025-11-30 14502506 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 14502506 c:OrdinaryShareClass1 2024-12-01 2025-11-30 14502506 c:OrdinaryShareClass1 2025-11-30 14502506 c:OrdinaryShareClass1 2024-11-30 14502506 c:FRS102 2024-12-01 2025-11-30 14502506 c:AuditExempt-NoAccountantsReport 2024-12-01 2025-11-30 14502506 c:FullAccounts 2024-12-01 2025-11-30 14502506 c:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 14502506 d:Subsidiary1 2024-12-01 2025-11-30 14502506 d:Subsidiary1 1 2024-12-01 2025-11-30 14502506 d:Subsidiary2 2024-12-01 2025-11-30 14502506 d:Subsidiary2 1 2024-12-01 2025-11-30 14502506 d:Subsidiary3 2024-12-01 2025-11-30 14502506 d:Subsidiary3 1 2024-12-01 2025-11-30 14502506 d:Subsidiary4 2024-12-01 2025-11-30 14502506 d:Subsidiary4 1 2024-12-01 2025-11-30 14502506 d:HirePurchaseContracts d:WithinOneYear 2025-11-30 14502506 d:HirePurchaseContracts d:WithinOneYear 2024-11-30 14502506 d:HirePurchaseContracts d:BetweenOneFiveYears 2025-11-30 14502506 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-11-30 14502506 2 2024-12-01 2025-11-30 14502506 6 2024-12-01 2025-11-30 14502506 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2025-11-30 14502506 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-11-30 14502506 e:PoundSterling 2024-12-01 2025-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14502506 SHEPEL HOME LONDON LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
SHEPEL HOME LONDON LTD CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 11
SHEPEL HOME LONDON LTD REGISTERED NUMBER: 14502506 BALANCE SHEET AS AT 30 NOVEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 134,102 |  | 144,771
Investments | 5 |  | 89,277 |  | -
|  |  | 223,379 |  | 144,771
Current assets |  |  |  |  |
Stocks | 7 | 119,579 |  | 40,750 |
Debtors: amounts falling due within one year | 8 | 648,091 |  | 475,254 |
Cash at bank and in hand | 9 | 2,202 |  | 12,293 |
|  | 769,872 |  | 528,297 |
Creditors: amounts falling due within one year | 10 | (648,325) |  | (367,555) |
Net current assets |  |  | 121,547 |  | 160,742
Total assets less current liabilities |  |  | 344,926 |  | 305,513
Creditors: amounts falling due after more than one year | 11 |  | (67,416) |  | (74,510)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (13,114) |  | (11,337) |
|  |  | (13,114) |  | (11,337)
Net assets |  |  | 264,396 |  | 219,666
Capital and reserves |  |  |  |  |
Called up share capital | 14 |  | 100 |  | 100
Profit and loss account |  |  | 264,296 |  | 219,566
|  |  | 264,396 |  | 219,666
1
SHEPEL HOME LONDON LTD REGISTERED NUMBER: 14502506 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2025 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Oleksandr Shepel
Director
Date: 10 July 2026
The notes on pages 3 to 11 form part of these financial statements. 2
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
1. | General information
Shepel Home London Ltd is a private company, limited by shares, registered in England and Wales, registration number 14502506. The registered office address is 368b North Dome Design Centre, Chelsea Harbour, London, England, SW10 0XE. The principal activity of the company is that of specialised design activities and distribution of furniture. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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. These financial statements are the company's first financial statements prepared in accordance with FRS 102 1A. The transition to FRS 102 Section 1A from FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime, has resulted in no changes to the company's accounting policies, and no adjustments were required to the previously reported financial position or financial performance. The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. 3
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue from sale of specialist designed furniture is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue from sale of specialist designed furniture is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 4
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 33% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Office equipment | - | 25% | reducing balance
|  |  |  | Computer equipment | - | 33% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.10 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. 5
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
| 2.16 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 6 (2024 - 4).
6
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 December 2024 | - | 118,399 | 39,935 | - | 158,334
| Additions | 4,503 | - | 36,265 | 6,886 | 47,654
| At 30 November 2025 | 4,503 | 118,399 | 76,200 | 6,886 | 205,988
| Depreciation |  |  |  |  |
| At 1 December 2024 | - | 7,103 | 6,460 | - | 13,563
| Charge for the year on owned assets | 991 | 27,824 | 26,827 | 2,681 | 58,323
| At 30 November 2025 | 991 | 34,927 | 33,287 | 2,681 | 71,886
| Net book value |  |  |  |  |
| At 30 November 2025 | 3,512 | 83,472 | 42,913 | 4,205 | 134,102
| At 30 November 2024 | - | 111,296 | 33,475 | - | 144,771
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 83,472 | 111,296
7
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
5. | Fixed asset investments
|  | Investments in subsidiary
|  | £
| Cost or valuation |
| Additions | 89,277
| At 30 November 2025 | 89,277
6. | Subsidiary undertakings
| Subsidiary undertakings
| The following were subsidiary undertakings of the company:
| Name | Registered office | Principal activity | Class of shares | Holding
| Studio Shepel London Ltd | United Kingdom | Specialised design activities | Ordinary | 100%
| Boutique Joinery London Ltd | United Kingdom | Manufacture of other builders' carpentry and joinery | Ordinary | 100%
| SL Workshop Ltd | United Kingdom | Manufacture of other furniture | Ordinary | 100%
| Polmar NYC | United States of America | Furniture gallery | Ordinary | 100%
7. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods held for resale | 119,579 | 40,750
8
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 347,261 | 433,692
| Amounts owed by group undertakings | 218,331 | -
| Other debtors | 60,345 | 20,466
| Prepayments and accrued income | 22,154 | 21,096
|  | 648,091 | 475,254
9. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,202 | 12,293
| Less: bank overdrafts | (20,740) | -
|  | (18,538) | 12,293
10. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 20,740 | -
| Trade creditors | 209,528 | 10,693
| Corporation tax | 97,094 | 97,989
| Other taxation and social security | 39,620 | 28,593
| Obligations under finance lease and hire purchase contracts | 12,937 | 19,000
| Other creditors | 1,208 | 46,865
| Accruals and deferred income | 267,198 | 164,415
|  | 648,325 | 367,555
11. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 67,416 | 74,510
9
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
12. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 12,937 | 19,000
| Between 1-5 years | 67,416 | 74,510
|  | 80,353 | 93,510
13. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (11,337)
| Charged to profit or loss | (1,777)
| At end of year | (13,114)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (13,144) | (11,337)
| Short term differences | 30 | -
|  | (13,114) | (11,337)
14. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £1.00 each | 100 | 100
10
SHEPEL HOME LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
15. | Related party transactions
| No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35. Included within other debtors is an amount of £30,350 (2024 - £(46,865)) due from the directors. Interest of £197 (2024 - £NIL) has been charged at the official rate on the loan. The loan is unsecured and repayable on demand. During the year, dividends totalling £108,970 (2024 - £223,600) were paid to the shareholders who are also directors of the company. Included within trade creditors is an amount of £51,318 (2024 - £Nil) due to a connected party.
11