Company registration number 06804052 (England and Wales)
L S SHUNTERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
L S SHUNTERS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
273,023
346,438
Current assets
Debtors
4
1,343
1,350
Creditors: amounts falling due within one year
5
(10,915)
(4,566)
Net current liabilities
(9,572)
(3,216)
Total assets less current liabilities
263,451
343,222
Capital and reserves
Called up share capital
9
8
Share premium account
592,861
494,966
Profit and loss reserves
(329,419)
(151,752)
Total equity
263,451
343,222

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 March 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 17 November 2023
Mr J Hosking
Director
Company Registration No. 06804052
L S SHUNTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

L S Shunters Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sixth Floor, Capital Tower, 91 Waterloo Road, London, SE1 8RT.

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
Going concern

The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The director has undertaken a number of scenario projections and remains satisfied that due to the continued support of the shareholder, the Company is able to meet its liabilities as they fall due over the next 12 months. Thus it has adopted the going concern basis in preparing the annual financial statements.

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.

Following a review of the entity's accounting policy, depreciation will be applied as described below.

Plant and machinery
10% straight line

An impairment review is conducted each year. Should any impairment or movement in impairment arise from this review, this will be charged to the profit and loss account in the period in which in occurs.

1.4
Financial instruments

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

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

L S SHUNTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2022 - 0).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
392,828
Depreciation and impairment
At 1 April 2022
46,390
Depreciation charged in the year
29,283
Impairment losses
44,132
At 31 March 2023
119,805
Carrying amount
At 31 March 2023
273,023
At 31 March 2022
346,438
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,343
1,350
L S SHUNTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
10,915
4,566
6
Related party transactions

The Company does not have a bank account, and cash transactions are processed through Locomotive Services Limited, a company under common control which is incorporated in England and Wales. During the year, Locomotive Services Limited paid expenses on behalf of the Company of £118,636 (2022: £71,724). Locomotive Services Limited also received VAT repayments on behalf of the Company of £20,740 (2022: £10,391) and as at 31 March 2023, the Company owed Locomotive Services Limited £nil (2022: £nil).

 

During the year, the Company issued an ordinary share to Mr J Hosking for a total of £97,896.

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