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SHENFINE LTD

Registered Number
11428138
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

SHENFINE LTD
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

HOLLAND, Melanie
SHENFINE, Paul, Dr

Registered Address

15 Riverside Studios Amethyst Road
Newcastle Business Park
Newcastle Upon Tyne
NE4 7YL

Registered Number

11428138 (England and Wales)
SHENFINE LTD
Statement of Financial Position
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets54,4553,464
4,4553,464
Current assets
Stocks15,0003,000
Debtors6804,629815,761
Cash at bank and on hand34,41851,825
854,047870,586
Creditors amounts falling due within one year7(28,755)(47,208)
Net current assets (liabilities)825,292823,378
Total assets less current liabilities829,747826,842
Creditors amounts falling due after one year8(667,604)(670,151)
Provisions for liabilities-(1,558)
Net assets162,143155,133
Capital and reserves
Called up share capital100100
Profit and loss account162,043155,033
Shareholders' funds162,143155,133
The financial statements were approved and authorised for issue by the Board of Directors on 23 August 2023, and are signed on its behalf by:
SHENFINE, Paul, Dr
Director
Registered Company No. 11428138
SHENFINE LTD
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year32
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 July 2212,483
Additions3,248
At 30 June 2315,731
Depreciation and impairment
At 01 July 229,019
Charge for year2,257
At 30 June 2311,276
Net book value
At 30 June 234,455
At 30 June 223,464
6.Debtors

2023

2022

££
Trade debtors / trade receivables22,70234,020
Other debtors80-
Amounts owed by associates and joint ventures / participating interests (Non-current)8,8508,743
Other debtors (Non-current)772,997772,998
Total804,629815,761
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Taxation and social security28,55747,208
Accrued liabilities and deferred income198-
Total28,75547,208
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors after one year

2023

2022

££
Amounts owed to related parties667,604670,151
Total667,604670,151