Registration number: 00610771

Shepherd and Woodward Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 11

Shepherd and Woodward Limited

(Registration number: 00610771)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	7,036	15,890
Tangible assets	5	12,826	1,130,689
Investment property	6	-	4,168,078
Investments	7	648,289	648,289
		668,151	5,962,946
Current assets
Stocks	8	483,249	656,331
Debtors	9	65,119	1,190,495
Cash at bank and in hand		2,187,219	1,865,944
		2,735,587	3,712,770
Creditors: Amounts falling due within one year	10	(1,486,657)	(1,292,994)
Net current assets		1,248,930	2,419,776
Total assets less current liabilities		1,917,081	8,382,722
Creditors: Amounts falling due after more than one year	10	-	(3,000)
Provisions for liabilities		-	(900,000)
Net assets		1,917,081	7,479,722
Capital and reserves
Called up share capital	11	28,000	28,000
Revaluation reserve		-	735,040
Profit and loss reserve		1,889,081	6,716,682
Shareholders' funds		1,917,081	7,479,722

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 30 October 2026 and signed on its behalf by:
 

......................................... Mr R D Venables Director

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

1	General information

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

The address of its registered office is:
109 - 113 High Street
Oxford
OX1 4BT

These financial statements were authorised for issue by the Board on 30 October 2026.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Group accounts not prepared

The company is exempt by virtue of section 400 of the Companies Act 2006 from the requirement to prepare group accounts. These financial statements present information about the company as an individual undertaking and not about its group. The ultimate parent undertaking and the parent of the largest and smallest group in which the results of the company are consolidated is Shepherd and Woodward Holdings Limited, a company registered in England and Wales. Copies of their consolidated financial statements can be obtained from 109-113 High Street, Oxford, OX1 4BT.

Going concern

The financial statements have been prepared on a going concern basis.

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 October 2026 was Ajay Bahl BA BFP FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 corporation 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 group operates and generates taxable income.

Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the Group. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

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
Freehold properties	Straight line over fifty years
Leasehold properties	Straight line over the life of the lease
Plant and machinery	25% straight line
Fixtures, fittings and equipment	25% straight line
Computer hardware	25% straight line
Motor vehicles	25% straight line

Investment property

Investment properties are included at fair value, the valuation of investment properties is considered annually. Any aggregate surplus or deficit is included as a movement through the profit or loss in the year, in line with FRS 102. No depreciation is provided in respect of the freehold investment property; the directors consider the accounting policy results in the accounts giving a true and fair view.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Asset class	Amortisation method and rate
Website	25% straight line

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.

Trade 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. A provision for the impairment of trade debtors is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at the lower of cost and net realisable value. A provision is made against the value of certain stock which has been held for longer than 12 months. Provision is also made in respect of certain high fashion clothing and equipment due to their exceptional and rapid obsolescence.

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Trade 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 recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2025 - 39).

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

4	Intangible assets

	Website  £	Total £
Cost or valuation
At 1 February 2025	96,379	96,379
At 31 January 2026	96,379	96,379
Amortisation
At 1 February 2025	80,489	80,489
Amortisation charge	8,854	8,854
At 31 January 2026	89,343	89,343
Carrying amount
At 31 January 2026	7,036	7,036
At 31 January 2025	15,890	15,890

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	1,653,455	105,213	16,033	1,774,701
Additions	-	3,373	-	3,373
Disposals	(1,653,455)	(32,980)	-	(1,686,435)
At 31 January 2026	-	75,606	16,033	91,639
Depreciation
At 1 February 2025	546,510	81,469	16,033	644,012
Charge for the year	49,200	11,425	-	60,625
Eliminated on disposal	(595,710)	(30,114)	-	(625,824)
At 31 January 2026	-	62,780	16,033	78,813
Carrying amount
At 31 January 2026	-	12,826	-	12,826
At 31 January 2025	1,106,945	23,744	-	1,130,689

Included within the net book value of land and buildings above is £Nil (2025 - £Nil) in respect of freehold land and buildings and £Nil (2025 - £1,106,945) in respect of long leasehold land and buildings.
 

6	Investment properties

	2026 £
At 1 February	4,168,078
Additions	24,619
Disposals	(4,192,697)
At 31 January	-

Shepherd and Woodward Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

7	Investments

	2026 £	2025 £
Investments in subsidiaries	648,289	648,289