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REGISTERED NUMBER: 06606095 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

R. SHED LIMITED

R. SHED LIMITED (REGISTERED NUMBER: 06606095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R. SHED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: R P Shed
Mrs D Shed





REGISTERED OFFICE: 225 London Road
Burgess Hill
West Sussex
RH15 9QU





REGISTERED NUMBER: 06606095 (England and Wales)





ACCOUNTANTS: Peter Lawson & Co.
225 London Road
Burgess Hill
West Sussex
RH15 9QU

R. SHED LIMITED (REGISTERED NUMBER: 06606095)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,393 13,193
Tangible assets 5 22,485 29,132
30,878 42,325

CURRENT ASSETS
Stocks 1,503 1,562
Debtors 6 86,744 56,212
Cash at bank 115,073 69,642
203,320 127,416
CREDITORS
Amounts falling due within one year 7 95,514 85,353
NET CURRENT ASSETS 107,806 42,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,684

84,388

CREDITORS
Amounts falling due after more than one year 8 (1,866 ) -

PROVISIONS FOR LIABILITIES (4,474 ) (5,535 )
NET ASSETS 132,344 78,853

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 132,340 78,849
SHAREHOLDERS' FUNDS 132,344 78,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

R. SHED LIMITED (REGISTERED NUMBER: 06606095)

BALANCE SHEET - continued
31ST MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th January 2024 and were signed on its behalf by:




R P Shed - Director



Mrs D Shed - Director


R. SHED LIMITED (REGISTERED NUMBER: 06606095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

R. Shed 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

R. SHED LIMITED (REGISTERED NUMBER: 06606095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022
and 31st May 2023 53,613
AMORTISATION
At 1st June 2022 40,420
Charge for year 4,800
At 31st May 2023 45,220
NET BOOK VALUE
At 31st May 2023 8,393
At 31st May 2022 13,193

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2022 43,808
Additions 787
At 31st May 2023 44,595
DEPRECIATION
At 1st June 2022 14,676
Charge for year 7,434
At 31st May 2023 22,110
NET BOOK VALUE
At 31st May 2023 22,485
At 31st May 2022 29,132

R. SHED LIMITED (REGISTERED NUMBER: 06606095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,782 27,443
Other debtors 62,962 28,769
86,744 56,212

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,455 583
Trade creditors 18,606 27,962
Taxation and social security 57,049 40,865
Other creditors 15,404 15,943
95,514 85,353

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 1,866 -

9. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2023 and 31st May 2022:

2023 2022
£    £   
R P Shed
Balance outstanding at start of year (3,583 ) (1,288 )
Amounts advanced 21,673 -
Amounts repaid (18,181 ) (2,295 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (91 ) (3,583 )

R. SHED LIMITED (REGISTERED NUMBER: 06606095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs D Shed
Balance outstanding at start of year - (274 )
Amounts advanced 38,680 274
Amounts repaid (7,036 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,644 -

11. ULTIMATE CONTROLLING PARTY

Mr R P Shed & Mrs D S Shed are joint controlling parties.