Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-314vehicle dismantlers42022-04-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04181814 2022-04-01 2023-03-31 04181814 2021-04-01 2022-03-31 04181814 2023-03-31 04181814 2022-03-31 04181814 c:Director2 2022-04-01 2023-03-31 04181814 d:CurrentFinancialInstruments 2023-03-31 04181814 d:CurrentFinancialInstruments 2022-03-31 04181814 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04181814 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04181814 d:ShareCapital 2023-03-31 04181814 d:ShareCapital 2022-03-31 04181814 d:RetainedEarningsAccumulatedLosses 2023-03-31 04181814 d:RetainedEarningsAccumulatedLosses 2022-03-31 04181814 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04181814 c:OrdinaryShareClass1 2023-03-31 04181814 c:OrdinaryShareClass1 2022-03-31 04181814 c:FRS102 2022-04-01 2023-03-31 04181814 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04181814 c:FullAccounts 2022-04-01 2023-03-31 04181814 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04181814









SHINEHILL LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
SHINEHILL LIMITED
REGISTERED NUMBER: 04181814

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
78,540
93,882

Debtors: amounts falling due within one year
 4 
138,263
152,483

Cash at bank and in hand
  
40,906
5,699

  
257,709
252,064

Creditors: amounts falling due within one year
 5 
(350,210)
(341,915)

Net current liabilities
  
 
 
(92,501)
 
 
(89,851)

Total assets less current liabilities
  
(92,501)
(89,851)

  

Net liabilities
  
(92,501)
(89,851)


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
(92,601)
(89,951)

  
(92,501)
(89,851)


Page 1

 
SHINEHILL LIMITED
REGISTERED NUMBER: 04181814
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2023.




Leslie Edgley
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
SHINEHILL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is registered in England and Wales. The company's registered office is 127 Ettingshall Road, West Midlands Wolverhampton, WV2 2JP. The principal activity of the company continues to be that of vehicle dismantlers.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SHINEHILL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
SHINEHILL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Debtors

2023
2022
£
£


Trade debtors
123,422
142,146

Other debtors
4,778
1,727

Prepayments and accrued income
10,063
8,610

138,263
152,483



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,150
3,356

Amounts owed to group undertakings
344,105
331,677

Other creditors
-
5,000

Accruals and deferred income
1,955
1,882

350,210
341,915



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



7.


Controlling party

The parent company is Shinehill (Assets) Limited, registered office 127 Ettingshall Road, Wolverhampton, West Midlands, WV2 2JP. The controlling interest in that company is held by Leslie Edgley. 

 
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