REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2021 |
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R A SHIELD HOLDINGS LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2021 |
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FOR |
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R A SHIELD HOLDINGS LIMITED |
R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2021 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 3 |
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Income Statement | 5 |
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Other Comprehensive Income | 6 |
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Balance Sheet | 7 |
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Statement of Changes in Equity | 8 |
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Notes to the Financial Statements | 9 |
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R A SHIELD HOLDINGS LIMITED |
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COMPANY INFORMATION |
for the year ended 31 October 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Unit 2, Charnwood Edge Business Park |
Syston Road |
Leicestershire |
LE7 4UZ |
R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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REPORT OF THE DIRECTORS |
for the year ended 31 October 2021 |
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The directors present their report with the financial statements of the company for the year ended 31 October 2021. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of an investment property. |
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DIVIDENDS |
No dividends will be distributed for the year ended 31 October 2021. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 November 2020 to the date of this report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Magma Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
R A SHIELD HOLDINGS LIMITED |
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Opinion |
We have audited the financial statements of R A Shield Holdings Limited (the 'company') for the year ended 31 October 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 October 2021 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
R A SHIELD HOLDINGS LIMITED |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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Based on our understanding of the company and the industry, we have identified that the principal risks of non-compliance with laws and regulations related to UK Tax and legislation and breaches of health and safety, and we have considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries, and management bias in accounting estimates. Audit procedures performed included: |
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- enquiries with management for consideration of known or suspected instances of non-compliance with laws and |
regulations and fraud. |
- challenging assumptions made by management in their accounting estimates and assessment of investment property valuations |
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations. |
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There are inherent limitations in the audit procedures described above. The more removed non-compliance with laws and regulations is, from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by forgery or intentional |
misrepresentation, for example, or through collusion. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditor |
Unit 2, Charnwood Edge Business Park |
Syston Road |
Leicestershire |
LE7 4UZ |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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INCOME STATEMENT |
for the year ended 31 October 2021 |
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2021 | 2020 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses | ( |
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(274,535 | ) | 315,721 |
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Other operating income |
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OPERATING (LOSS)/PROFIT | 5 | ( |
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Interest payable and similar expenses | 6 |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit | 7 | ( |
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(LOSS)/PROFIT FOR THE FINANCIAL YEAR | ( |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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OTHER COMPREHENSIVE INCOME |
for the year ended 31 October 2021 |
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2021 | 2020 |
Notes | £ | £ |
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(LOSS)/PROFIT FOR THE YEAR | ( |
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OTHER COMPREHENSIVE INCOME |
Gain on revaluation |
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Income tax relating to other comprehensive
income |
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OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX |
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TOTAL COMPREHENSIVE INCOME FOR
THE YEAR |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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BALANCE SHEET |
31 October 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
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Investments | 9 |
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Investment property | 10 |
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CURRENT ASSETS |
Debtors | 11 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 12 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 13 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 14 |
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Fair value reserves | 15 |
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Retained earnings | 15 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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STATEMENT OF CHANGES IN EQUITY |
for the year ended 31 October 2021 |
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Called up | Fair |
share | Retained | value | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
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Balance at 1 November 2019 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 31 October 2020 |
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Changes in equity |
Total comprehensive income | - | ( |
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Balance at 31 October 2021 |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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R A Shield Holdings Limited is a limited company, registered in England and Wales. Its registered office address is 365 Fosse Way, Syston, Leicester, LE7 1NL and the registered number is 03623882. |
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The principal activity of the company was that of an investment property. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £. |
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The company has not prepared consolidated financial statements on account of the fact that consolidated financial statements have been prepared by C R Shield Holdings Limited. |
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Going concern |
The directors believe that it is appropriate to adopt the going concern basis in the preparation of the financial statements. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
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Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows. |
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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. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, both the straight line and reducing balance method as detailed below. |
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Depreciation is provided on the following basis: |
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Freehold property | 2% on cost |
Plant and machinery | 5-7 years on cost |
Motor vehicles | 25% reducing balance |
Fixtures and fittings | 15% reducing balance |
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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. |
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. |
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Investments in subsidiaries |
Investment in the subsidiaries are measured at cost less accumulated impairment. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. |
R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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(i) Financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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(ii) Financial liabilities |
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
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Taxation |
The tax expense for the year comprises current and deferred tax. |
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Tax is recognised in profit or loss except that a change 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. |
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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. |
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Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Finance costs |
Finance costs are charged to the Profit and Loss Account 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. |
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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. |
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Interest income |
R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2021 |
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2. | ACCOUNTING POLICIES - continued |
Interest income is recognised in the Profit and Loss Account using the effective interest method. |
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3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
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revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
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Key sources of estimation uncertainty |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: |
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Depreciation of tangible assets |
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual lives of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the assets and the tangible fixed assets accounting policy for the useful economic lives for each class of asset. |
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Revaluation of investment property |
The company carries its investment property at fair value as set out in note 2 above. The directors obtain independent advice from a firm of Chartered Surveyors and estimate fair value using this information together with market data, the nature and location of specific properties and terms of tenancies. |
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4. | EMPLOYEES AND DIRECTORS |
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There were no staff costs for the year ended 31 October 2021 nor for the year ended 31 October 2020. |
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The average number of employees during the year was NIL (2020 - NIL). |
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2021 | 2020 |
£ | £ |
Directors' remuneration |
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5. | OPERATING (LOSS)/PROFIT |
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The operating loss (2020 - operating profit) is stated after charging/(crediting): |
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2021 | 2020 |
£ | £ |
Depreciation - owned assets |
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Loss/(profit) on disposal of fixed assets |
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( |
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Auditors' remuneration |
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6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2021 | 2020 |
£ | £ |
Loan note interest |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2021 |
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7. | TAXATION |
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Analysis of the tax charge |
The tax charge on the loss for the year was as follows: |
2021 | 2020 |
£ | £ |
Deferred tax |
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Tax on (loss)/profit |
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UK corporation tax has been charged at 19% . |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
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2021 | 2020 |
£ | £ |
(Loss)/profit before tax | ( |
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(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
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( |
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Effects of: |
Expenses not deductible for tax purposes |
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Utilisation of tax losses |
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( |
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Adjustments to tax charge in respect of previous periods | ( |
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Change in rate | 451 | - |
Other comprehensive income | 51,383 | - |
Total tax charge | 1,441 | - |
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Tax effects relating to effects of other comprehensive income |
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2021 |
Gross | Tax | Net |
£ | £ | £ |
Gain on revaluation |
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- | 270,439 |
R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2021 |
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8. | TANGIBLE FIXED ASSETS |
Freehold | Fixtures |
land & | Plant and | and | Motor |
buildings | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2020 |
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Disposals | ( |
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( |
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( |
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Reclassification/transfer | ( |
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( |
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At 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
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Charge for year |
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Eliminated on disposal |
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( |
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( |
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Reclassification/transfer | ( |
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( |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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9. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2020 |
and 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: England |
Nature of business:
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% |
Class of shares: | holding |
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Registered office: England |
Nature of business:
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% |
Class of shares: | holding |
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Registered office: England |
Nature of business:
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% |
Class of shares: | holding |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2021 |
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9. | FIXED ASSET INVESTMENTS - continued |
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Registered office: England |
Nature of business:
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% |
Class of shares: | holding |
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Registered office: England |
Nature of business:
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% |
Class of shares: | holding |
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10. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
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Revaluations | 270,439 |
Reclassification/transfer | 1,229,561 |
At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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Fair value at 31 October 2021 is represented by: |
£ |
Valuation in 2021 | 270,439 |
Cost | 3,429,561 |
3,700,000 |
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11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts owed by participating interests | 3,256,289 | 3,309,335 |
Other debtors |
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VAT |
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12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Other creditors |
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R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2021 |
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13. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 1,441 | - |
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Deferred |
tax |
£ |
Charge to Income Statement during year |
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Balance at 31 October 2021 |
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14. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
|
Ordinary A shares | £1.00 | 16,768 | 16,768 |
|
Ordinary B shares | £1.00 | 17,011 | 17,011 |
33,779 | 33,779 |
|
The company's ordinary shares carry full rights with respect to voting, dividends and distributions. |
|
15. | RESERVES |
|
Retained earnings |
This includes all current and prior period retained profits and losses. |
|
Fair value reserve |
The fair value reserve arose on the revaluation of the investment property. |
|
16. | OTHER RELATED PARTY TRANSACTIONS |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 33 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
The company had the following balances with related companies, all ultimately controlled by C R F Shield. |
|
2021 | 2020 |
£ | £ |
Amounts due from Shield Properties Limited | 3,256,289 | 3,309,835 |
|
17. | CONTROLLING PARTY |
|
The directors consider that the parent undertaking of this company is C R Shield Holdings Limited, a company registered in England and Wales.The registered office is Third Floor, Two Colton Square, Leicester LE1 1QH. |
|
The parent company preparing consolidated accounts for the smallest group of which the company is a member is C R Shield Holdings Limited. Mr C R F Shield is the ultimate controlling party of this group. |