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REGISTERED NUMBER: 09974269 (England and Wales)














SHAWS RECOVERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






SHAWS RECOVERY LIMITED (REGISTERED NUMBER: 09974269)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SHAWS RECOVERY LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: Miss P E Shaw
S T Shaw





SECRETARY: Miss P E Shaw





REGISTERED OFFICE: 5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 09974269 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

SHAWS RECOVERY LIMITED (REGISTERED NUMBER: 09974269)

STATEMENT OF FINANCIAL POSITION
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 149,089 198,670

CURRENT ASSETS
Debtors 6 75,552 72,262
Cash at bank and in hand 45,691 337
121,243 72,599
CREDITORS
Amounts falling due within one year 7 189,185 115,253
NET CURRENT LIABILITIES (67,942 ) (42,654 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,147

156,016

CREDITORS
Amounts falling due after more than one
year

8

(23,212

)

(89,786

)

PROVISIONS FOR LIABILITIES (2,404 ) (2,404 )
NET ASSETS 55,531 63,826

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 55,431 63,726
SHAREHOLDERS' FUNDS 55,531 63,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

SHAWS RECOVERY LIMITED (REGISTERED NUMBER: 09974269)

STATEMENT OF FINANCIAL POSITION - continued
28 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:




Miss P E Shaw - Director



S T Shaw - Director


SHAWS RECOVERY LIMITED (REGISTERED NUMBER: 09974269)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Shaws Recovery 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 statement is the Pound Sterling, rounded to the nearest £.

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.

Income recognition
Income is recognised when goods/services have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. substantively enacted by the statement of financial position date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SHAWS RECOVERY LIMITED (REGISTERED NUMBER: 09974269)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 11,117 1,752 442,910 455,779
Disposals - - (5,000 ) (5,000 )
At 28 February 2023 11,117 1,752 437,910 450,779
DEPRECIATION
At 1 March 2022 8,663 1,159 247,287 257,109
Charge for year 644 106 45,081 45,831
Eliminated on disposal - - (1,250 ) (1,250 )
At 28 February 2023 9,307 1,265 291,118 301,690
NET BOOK VALUE
At 28 February 2023 1,810 487 146,792 149,089
At 28 February 2022 2,454 593 195,623 198,670

The net book value of tangible fixed assets includes £ 112,010 (2022 - £ 151,207 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 75,552 42,594
Other debtors - 29,668
75,552 72,262

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 18,518
Hire purchase contracts 55,523 56,624
Trade creditors 13,066 4,335
Taxation and social security 24,876 17,837
Other creditors 85,720 17,939
189,185 115,253

SHAWS RECOVERY LIMITED (REGISTERED NUMBER: 09974269)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 56,886
Other creditors 23,212 32,900
23,212 89,786

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £2,000) were paid to the directors .

Other Creditors include £17072 (2022 nil) due to Shaw Bros. The Directors of the Company are also partners in Shaw Bros.

The company operates a loan account with the directors which is interest free and repayable on demand. At 28 February 2023 £32,649 (2022 £5353) was owed to the directors and this is included in other creditors.