Company registration number 01789878 (England and Wales)
SHIELD (U.K.) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
SHIELD (U.K.) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SHIELD (U.K.) LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,696
7,596
Current assets
Stocks
16,450
15,300
Debtors
4
47,834
29,522
Cash at bank and in hand
5,885
14,980
70,169
59,802
Creditors: amounts falling due within one year
5
(49,401)
(42,813)
Net current assets
20,768
16,989
Total assets less current liabilities
26,464
24,585
Creditors: amounts falling due after more than one year
6
(11,250)
(16,250)
Net assets
15,214
8,335
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
14,214
7,335
Total equity
15,214
8,335

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 16 November 2023
K. Allen
Director
Company registration number 01789878 (England and Wales)
SHIELD (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

Shield (U.K.) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Priory Gate House, 7 Priory Road, High Wycombe, Buckinghamshire, HP13 6SG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

SHIELD (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 and 31 May 2023
62,243
Depreciation and impairment
At 1 June 2022
54,647
Depreciation charged in the year
1,900
At 31 May 2023
56,547
Carrying amount
At 31 May 2023
5,696
At 31 May 2022
7,596
SHIELD (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
47,006
29,034
Other debtors
828
488
47,834
29,522
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,000
5,000
Trade creditors
6,705
9,270
Taxation and social security
18,003
14,567
Other creditors
19,693
13,976
49,401
42,813
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,250
16,250
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1,000
1,000
1,000
1,000
2023-05-312022-06-01false16 November 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityK. AllenJ Allen017898782022-06-012023-05-31017898782023-05-31017898782022-05-3101789878core:OtherPropertyPlantEquipment2023-05-3101789878core:OtherPropertyPlantEquipment2022-05-3101789878core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3101789878core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3101789878core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3101789878core:Non-currentFinancialInstrumentscore:AfterOneYear2022-05-3101789878core:CurrentFinancialInstruments2023-05-3101789878core:CurrentFinancialInstruments2022-05-3101789878core:ShareCapital2023-05-3101789878core:ShareCapital2022-05-3101789878core:RetainedEarningsAccumulatedLosses2023-05-3101789878core:RetainedEarningsAccumulatedLosses2022-05-3101789878bus:Director12022-06-012023-05-3101789878core:PlantMachinery2022-06-012023-05-3101789878core:MotorVehicles2022-06-012023-05-31017898782021-06-012022-05-3101789878core:OtherPropertyPlantEquipment2022-05-3101789878core:OtherPropertyPlantEquipment2022-06-012023-05-3101789878core:WithinOneYear2023-05-3101789878core:WithinOneYear2022-05-3101789878core:Non-currentFinancialInstruments2023-05-3101789878core:Non-currentFinancialInstruments2022-05-3101789878bus:PrivateLimitedCompanyLtd2022-06-012023-05-3101789878bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3101789878bus:FRS1022022-06-012023-05-3101789878bus:AuditExemptWithAccountantsReport2022-06-012023-05-3101789878bus:CompanySecretary12022-06-012023-05-3101789878bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP