Company registration number: 11138467
Unaudited financial statements
for the year ended 31 January 2024
for
Shey & Mas Ltd
Pages for filing with the Registrar
Shey & Mas Ltd
Accountants' Report to the Director for the preparation of the unaudited financial
statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shey & Mas Ltd for the year ended 31 January 2024 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Director of Shey & Mas Ltd, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Shey & Mas Ltd and state those matters that we have agreed to state to them in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shey & Mas Ltd and its Director for our work, or for this report.
It is your duty to ensure that Shey & Mas Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Shey & Mas Ltd. You consider that Shey & Mas Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Shey & Mas Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Prime Financial Advisory Ltd
50 Merrick Close
Stevenage
Stevenage
Uk
SG1 6GH
United Kingdom
Date 2 April 2024
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Company registration number: 11138467
Shey & Mas Ltd
Balance sheet
as at 31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 50,821 44,669
50,821 44,669
Current assets
Stocks 275 1,000
Debtors 5,500 5,500
Cash at bank and in hand 219 1,475
5,994 7,975
Creditors: amounts falling due within
one year
(18,465) (9,439)
Net current liabilities (12,471) (1,464)
Total assets less current liabilities 38,350 43,205
Creditors: Amounts falling due after
more than one year
5 (16,240) (32,329)
Provisions for liabilities (11,044) (9,875)
NET ASSETS 11,066 1,001
Capital and reserves
Called up share capital 1 -
Share premium account - 1
Profit and loss account 11,065 1,000
TOTAL EQUITY 11,066 1,001
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 January 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 11138467
Shey & Mas Ltd
Balance sheet - continued
as at 31 January 2024
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Miss A Hosseinpour, Director
2 April 2024
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Shey & Mas Ltd
Notes to the financial statements
for the year ended 31 January 2024
1 Company information
The company is registered in England and Wales. Its registered number is 11138467. The company is limited by shares. Its registered office is 15a South Parade, Oxford, OX2 7JN.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.:
Plant and machinery - 25% straight line
Fixtures & fittings - 10% 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.
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Shey & Mas Ltd
Notes to the financial statements - continued
for the year ended 31 January 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 2 (2023 - 3).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 February 2023 62,965
Additions 17,364
At 31 January 2024 80,329
Depreciation
At 1 February 2023 18,296
Charge for year 11,212
At 31 January 2024 29,508
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Shey & Mas Ltd
Notes to the financial statements - continued
for the year ended 31 January 2024
4 Tangible fixed assets - continued
Net book value
At 31 January 2024 50,821
At 31 January 2023 44,669
5 Creditors: amounts falling due after more than five years
2024 2023
£ £
Repayable otherwise than by instalments
Other creditors 1,139 13,356
1,139 13,356
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Shey & Mas Ltd
Exception report
for the year ended 31 January 2024
The following differences exist between the previous year's closing balances per the accounts and the
current year's opening balances per the Trial Balance:
Reserves
Opening balance at
1 February 2023 per
TB
Balance at 31
January 2023 per
accounts
Difference
£ £ £
Share premium reserve (Account 969) - 1 (1)
Profit and loss account (Account 968) 1,003 1,000 3
1,003 1,001 2
This page does not form part of the statutory financial statements.
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