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Registration number: 02415548

The Share Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

The Share Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

The Share Group Limited

Company Information

Directors

Mr R H Share

Mr D M Share

Mrs D L Share

Company secretary

Mrs D L Share

Registered office

58a Street Lane
Leeds
England
LS8 2DQ

 

The Share Group Limited

(Registration number: 02415548)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,934

22,050

Current assets

 

Stocks

5

104,992

119,710

Debtors

6

22,361

14,891

Cash at bank and in hand

 

440

632

 

127,793

135,233

Creditors: Amounts falling due within one year

7

(158,446)

(166,237)

Net current liabilities

 

(30,653)

(31,004)

Total assets less current liabilities

 

(17,719)

(8,954)

Creditors: Amounts falling due after more than one year

7

(374,099)

(383,887)

Net liabilities

 

(391,818)

(392,841)

Capital and reserves

 

Called up share capital

8

206,220

206,220

Retained earnings

(598,038)

(599,061)

Shareholders' deficit

 

(391,818)

(392,841)

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

Directors' responsibilities:

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

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 November 2023 and signed on its behalf by:
 

.........................................
Mr R H Share
Director

   
     
 

The Share Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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:
58a Street Lane
Leeds
England
LS8 2DQ

These financial statements were authorised for issue by the Board on 17 November 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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

Short leasehold improvements

Over the period of the lease

Fixtures and fittings

Straight line over 5 years

 

The Share Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

The Share Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 6).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

8,097

115,972

124,069

Additions

-

988

988

At 31 August 2023

8,097

116,960

125,057

Depreciation

At 1 September 2022

7,408

94,611

102,019

Charge for the year

689

9,415

10,104

At 31 August 2023

8,097

104,026

112,123

Carrying amount

At 31 August 2023

-

12,934

12,934

At 31 August 2022

689

21,361

22,050

Included within the net book value of land and buildings above is £Nil (2022 - £689) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

104,992

119,710

 

The Share Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

12,590

6,335

Prepayments

9,771

8,556

 

22,361

14,891

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

38,550

27,969

Trade creditors

 

45,107

69,546

Taxation and social security

 

6,664

19,756

Accruals and deferred income

 

7,132

3,757

Other creditors

 

60,993

45,209

 

158,446

166,237

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

374,099

383,887

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

185,598

185,598

185,598

185,598

Ordinary A shares of £1 each

20,622

20,622

20,622

20,622

 

206,220

206,220

206,220

206,220

 

The Share Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

19,099

28,887

Other borrowings

355,000

355,000

374,099

383,887

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Bank overdrafts

28,550

17,969

38,550

27,969

Other borrowings

The company has received an unsecured Loan from Beaverbrooks The Jewellers Limited which is denominated in GBP with a nominal interest rate of 0%. The carrying amount at year end is £355,000 (2022 - £355,000).