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REGISTERED NUMBER: 03589871 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SHAWS INSTALLATIONS LIMITED

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHAWS INSTALLATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: L R Claxton





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





BUSINESS ADDRESS: Units 8 - 9 Centenary Industrial Estate
Hughes Road
Brighton
East Sussex
BN2 4AW





REGISTERED NUMBER: 03589871 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,937 2,217
Tangible assets 5 162,589 219,321
Investments 6 - -
164,526 221,538

CURRENT ASSETS
Stocks 236,041 113,366
Debtors 7 516,518 445,230
Cash at bank and in hand 289,342 338,917
1,041,901 897,513
CREDITORS
Amounts falling due within one year 8 655,643 657,466
NET CURRENT ASSETS 386,258 240,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

550,784

461,585

CREDITORS
Amounts falling due after more than one
year

9

(44,556

)

(73,124

)

PROVISIONS FOR LIABILITIES 11 (25,898 ) (39,189 )
NET ASSETS 480,330 349,272

CAPITAL AND RESERVES
Called up share capital 12 4 4
Retained earnings 480,326 349,268
SHAREHOLDERS' FUNDS 480,330 349,272

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

BALANCE SHEET - continued
31 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 director and authorised for issue on 7 December 2023 and were signed by:





L R Claxton - Director


SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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


1. STATUTORY INFORMATION

Shaws Installations 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 statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition
Turnover includes the sale of goods and installation services supplied.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed, and in the case of services, when the service is supplied. It is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates, other similar allowances and excludes VAT.

Interest receivable is recognised using the effective interest method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 50% on cost, 33% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes expenditure directly attributable to making the asset capable of operating as intended by management.

Government grants
Grants received in respect of the Jobs Retention Scheme are recognised in the Income Statement in the period to which the related salary costs were incurred.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Current asset investments are stated at fair value with any movement being charged to profit and loss.

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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


2. ACCOUNTING POLICIES - continued

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Operating leases are charged to the income statement on a straight line basis over the term of the relevant 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 2,800
AMORTISATION
At 1 June 2022 583
Charge for year 280
At 31 May 2023 863
NET BOOK VALUE
At 31 May 2023 1,937
At 31 May 2022 2,217

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 25,947 21,060 496,797 40,858 584,662
Additions - 179 - 5,648 5,827
Disposals (12,613 ) - (12,439 ) (5,207 ) (30,259 )
At 31 May 2023 13,334 21,239 484,358 41,299 560,230
DEPRECIATION
At 1 June 2022 17,724 11,886 303,467 32,264 365,341
Charge for year 1,824 2,124 48,216 4,723 56,887
Eliminated on disposal (9,363 ) - (11,622 ) (3,602 ) (24,587 )
At 31 May 2023 10,185 14,010 340,061 33,385 397,641
NET BOOK VALUE
At 31 May 2023 3,149 7,229 144,297 7,914 162,589
At 31 May 2022 8,223 9,174 193,330 8,594 219,321

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022 201,828
Transfer to ownership (89,355 )
At 31 May 2023 112,473
DEPRECIATION
At 1 June 2022 94,360
Charge for year 26,867
Transfer to ownership (59,678 )
At 31 May 2023 61,549
NET BOOK VALUE
At 31 May 2023 50,924
At 31 May 2022 107,468

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 132,959
PROVISIONS
At 1 June 2022
and 31 May 2023 132,959
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 414,852 374,984
Amounts owed by group undertakings 10,044 11,227
Amounts owed by connected companies 5,443 30,552
Other debtors 86,179 28,467
516,518 445,230

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10) 18,560 37,074
Trade creditors 165,909 241,081
Amounts owed to connected companies 6,943 -
Taxation and social security 59,355 25,907
Other creditors 394,876 343,404
655,643 657,466

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 20,000 30,000
Hire purchase contracts (see note 10) 24,556 43,124
44,556 73,124

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 18,560 37,074
Between one and five years 24,556 43,124
43,116 80,198

Non-cancellable operating leases
2023 2022
£    £   
Within one year 37,697 9,531
Between one and five years 166,817 18,014
In more than five years 244,521 -
449,035 27,545

During the year, operating lease expense in respect of a motor vehicle, included within the amounts above, were borne by a connected company.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 25,898 39,189

SHAWS INSTALLATIONS LIMITED (REGISTERED NUMBER: 03589871)

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


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 39,189
Credit to Income Statement during year (13,291 )
Balance at 31 May 2023 25,898

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £1 4 4

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
L R Claxton
Balance outstanding at start of year - 134,424
Amounts advanced 67,514 54,737
Amounts repaid (20,040 ) (189,161 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,474 -

The loan made during the year by the director to the company is interest free and repayable on demand.