Garden shed wholly and exclusively for business use

Hello.  I have received conflicting advice from HMRC, so can anyone confirm one way or the other:

If a one-man-band limited company buys a garden shed and puts it at the bottom of the director's home garden (and fits it out and has a seperate electric metre put in), is the cost of the shed itself allowable for capital allowances?  It is used wholly and exclusively for business purposes.  It is likely to have a life span for 10 years.  The company's intention is to trade for longer than this and replace it in 10 years time.