IRIS Accounts Production v23.1.5.20 06533943 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh065339432022-03-31065339432023-03-31065339432022-04-012023-03-31065339432021-03-31065339432021-04-012022-03-31065339432022-03-3106533943ns15:EnglandWales2022-04-012023-03-3106533943ns14:PoundSterling2022-04-012023-03-3106533943ns10:Director12022-04-012023-03-3106533943ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3106533943ns10:SmallEntities2022-04-012023-03-3106533943ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3106533943ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106533943ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106533943ns10:FullAccounts2022-04-012023-03-310653394312022-04-012023-03-3106533943ns10:OrdinaryShareClass12022-04-012023-03-3106533943ns10:Director22022-04-012023-03-3106533943ns10:CompanySecretary12022-04-012023-03-3106533943ns10:RegisteredOffice2022-04-012023-03-3106533943ns5:CurrentFinancialInstruments2023-03-3106533943ns5:CurrentFinancialInstruments2022-03-3106533943ns5:Non-currentFinancialInstruments2023-03-3106533943ns5:Non-currentFinancialInstruments2022-03-3106533943ns5:ShareCapital2023-03-3106533943ns5:ShareCapital2022-03-3106533943ns5:RetainedEarningsAccumulatedLosses2023-03-3106533943ns5:RetainedEarningsAccumulatedLosses2022-03-3106533943ns5:NetGoodwill2022-04-012023-03-3106533943ns5:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106533943ns5:PlantMachinery2022-04-012023-03-3106533943ns5:FurnitureFittings2022-04-012023-03-3106533943ns5:MotorVehicles2022-04-012023-03-3106533943ns5:NetGoodwill2022-03-3106533943ns5:NetGoodwill2023-03-3106533943ns5:NetGoodwill2022-03-3106533943ns5:PlantMachinery2022-03-3106533943ns5:FurnitureFittings2022-03-3106533943ns5:MotorVehicles2022-03-3106533943ns5:PlantMachinery2023-03-3106533943ns5:FurnitureFittings2023-03-3106533943ns5:MotorVehicles2023-03-3106533943ns5:PlantMachinery2022-03-3106533943ns5:FurnitureFittings2022-03-3106533943ns5:MotorVehicles2022-03-3106533943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106533943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3106533943ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3106533943ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-03-3106533943ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3106533943ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3106533943ns5:DeferredTaxation2022-03-3106533943ns5:DeferredTaxation2022-04-012023-03-3106533943ns5:DeferredTaxation2023-03-3106533943ns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 06533943 (England and Wales)















S.H.I.P.P. Limited

Unaudited Financial Statements

For The Year Ended 31st March 2023






S.H.I.P.P. Limited (Registered number: 06533943)






Contents of the Financial Statements
For The Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


S.H.I.P.P. Limited

Company Information
For The Year Ended 31st March 2023







DIRECTORS: S Baker
Mrs J Baker





SECRETARY: Mrs J Baker





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
Northamptonshire
NN1 4EP





BUSINESS ADDRESS: 29 Conyngham Road
Little Billing
Northampton
NN3 9TA





REGISTERED NUMBER: 06533943 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

S.H.I.P.P. Limited (Registered number: 06533943)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 37,500 45,000
Tangible assets 6 2,021 2,690
39,521 47,690

CURRENT ASSETS
Stocks 100 100
Debtors 7 9,093 23,919
Cash at bank 60,821 51,834
70,014 75,853
CREDITORS
Amounts falling due within one year 8 45,374 48,948
NET CURRENT ASSETS 24,640 26,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,161

74,595

CREDITORS
Amounts falling due after more than one
year

9

(22,428

)

(32,869

)

PROVISIONS FOR LIABILITIES 11 (200 ) (300 )
NET ASSETS 41,533 41,426

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 41,433 41,326
SHAREHOLDERS' FUNDS 41,533 41,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

S.H.I.P.P. Limited (Registered number: 06533943)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2023 and were signed on its behalf by:





S Baker - Director


S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements
For The Year Ended 31st March 2023

1. STATUTORY INFORMATION

S.H.I.P.P. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company in the year under review was that of the provision of plumbing and heating services.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 150,000
AMORTISATION
At 1st April 2022 105,000
Amortisation for year 7,500
At 31st March 2023 112,500
NET BOOK VALUE
At 31st March 2023 37,500
At 31st March 2022 45,000

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2022
and 31st March 2023 3,124 3,360 10,500 16,984
DEPRECIATION
At 1st April 2022 2,520 3,144 8,630 14,294
Charge for year 149 53 467 669
At 31st March 2023 2,669 3,197 9,097 14,963
NET BOOK VALUE
At 31st March 2023 455 163 1,403 2,021
At 31st March 2022 604 216 1,870 2,690

S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,896 22,852
Other debtors 1,197 1,067
9,093 23,919

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 10,072 9,632
Trade creditors 684 4,569
Taxation and social security 26,467 23,821
Other creditors 8,151 10,926
45,374 48,948

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 22,428 32,869

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,072 9,632

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,326 9,831

Amounts falling due between two and five years:
Bank loans - 2-5 years 12,102 23,038

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 200 300

Deferred
tax
£   
Balance at 1st April 2022 300
Provided during year (100 )
Balance at 31st March 2023 200

S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2023 or 31st March 2022.

14. CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2023 or 31st March 2022.