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Registration number: 13045962

Shred Rope Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2022

 

Shred Rope Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Shred Rope Ltd

Company Information

Director

Mr J D N Rodber Shapland

Registered office

15 Alverton Street
Penzance
Cornwall
TR18 2QP

Accountants

D.J. Reynolds & Co.
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Shred Rope Ltd

(Registration number: 13045962)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,163

599

Current assets

 

Stocks

5

1,443

5,262

Cash at bank and in hand

 

15,550

9,079

 

16,993

14,341

Creditors: Amounts falling due within one year

6

(22,069)

(15,674)

Net current liabilities

 

(5,076)

(1,333)

Net liabilities

 

(3,913)

(734)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(3,914)

(735)

Shareholders' deficit

 

(3,913)

(734)

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 October 2023
 

.........................................
Mr J D N Rodber Shapland
Director

 

Shred Rope Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

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

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

These financial statements were authorised for issue by the director on 20 October 2023.

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.

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.

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

Office equipment

20% Reducing balance

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.

 

Shred Rope Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Shred Rope Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2021

749

749

Additions

854

854

At 30 November 2022

1,603

1,603

Depreciation

At 1 December 2021

150

150

Charge for the year

290

290

At 30 November 2022

440

440

Carrying amount

At 30 November 2022

1,163

1,163

At 30 November 2021

599

599

5

Stocks

2022
£

2021
£

Other inventories

1,443

5,262

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Accruals and deferred income

1,494

1,494

Other creditors

20,575

14,180

22,069

15,674

 

Shred Rope Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £0.01 each

100

1

100

1

         

8

Related party transactions

Transactions with the director

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr J D N Rodber Shapland

Interest-free loan from the director, repayable on demand.

14,180

(623)

7,018

20,575

         
       

 

2021

At 26 November 2020
£

Advances to director
£

Repayments by director
£

At 30 November 2021
£

Mr J D N Rodber Shapland

Interest-free loan from the director, repayable on demand.

-

(1,752)

15,932

14,180