01 February 2022 31 January 2023 No principle activity is included 12413515 2022-02-01 12413515 2023-01-31 12413515 2022-02-01 2023-01-31 12413515 2022-01-31 12413515 2021-02-01 2022-01-31 12413515 uk-core:WithinOneYear 2023-01-31 12413515 uk-core:WithinOneYear 2022-01-31 12413515 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 12413515 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 12413515 uk-bus:Director1 2022-02-01 2023-01-31 12413515 uk-bus:RegisteredOffice 2022-02-01 2023-01-31 12413515 uk-curr:PoundSterling 2022-02-01 2023-01-31 12413515 uk-core:NetGoodwill 2022-01-31 12413515 uk-core:NetGoodwill 2023-01-31 12413515 uk-bus:FRS102 2022-02-01 2023-01-31 12413515 uk-bus:FullAccounts 2022-02-01 2023-01-31 12413515 uk-bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 12413515 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  M & S SHAR LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 JANUARY 2023
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  M & S SHAR LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 JANUARY 2023
       
       
  DIRECTORS
       
  M Shar
       
       
  REGISTERED OFFICE
       
  5 Cotham Road South
Bristol
BS6 5TZ
       
       
  COMPANY REGISTERED NUMBER
       
  12413515
       
       
  BANKERS
       
  Lloyds Bank plc
       
       
  ACCOUNTANTS
       
  Adam House
  Chartered Accountants
  123 Fishponds Road
Bristol
BS5 6PR
       
       
  CONTENTS
       
  Pages
       
       
  2 Statement of Financial Position  
       
       
  3-6 Notes to the Financial Statements  
       
     
  page 1
  M & S SHAR LTD
  Company registered number: 12413515
  STATEMENT OF FINANCIAL POSITION AT 31 January 2023
           
    Note 2023 2022
      £ £ £
  FIXED ASSETS
  Intangible assets 3 44,000 44,000
  CURRENT ASSETS    
  Inventories   10,750 20,862
  Cash at bank and in hand   1,437 800
      12,187 21,662
  CREDITORS: Amounts falling due within one year 4 55,406 65,387
  NET CURRENT LIABILITIES   (43,219) (43,725)
  NET ASSETS   £781 £275
       
  CAPITAL AND RESERVES
  Retained earnings   781 275
  SHAREHOLDERS' FUNDS   £781 £275
       
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 23 January 2024
 
  Signed on behalf of the board of directors
 
 
       
  M shar, Director
       
       
  The notes on pages 3-6 form part of these financial statements
   
  page 2
  M & S SHAR LTD
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 JANUARY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  M & S Shar Ltd is a private limited company and incorporated in England and Wales..
         
  Registered office:
  5 Cotham Road South
Bristol
BS6 5TZ
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 February 2022.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
         
1e. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
  Intangible assets
         
         
         
         
  The notes on pages 3-6 form part of these financial statements
   
  page 3
  M & S SHAR LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JANUARY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1k. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1l. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
  The notes on pages 3-6 form part of these financial statements
   
  page 4
  M & S SHAR LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JANUARY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1m. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1n. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
         
1o. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
         
1p. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2023 2022
    No. No.
  Management and administration 0 1
  Production and sales 0 1
    0 2
   
  The notes on pages 3-6 form part of these financial statements
   
  page 5
  M & S SHAR LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JANUARY 2023
       
       
3. INTANGIBLE FIXED ASSETS
       
    Goodwill Total
    £ £
  Cost
       
  At 1 February 2022 44,000 44,000
  At 31 January 2023 44,000 44,000
  Amortisation
       
  At 31 January 2023 - -
   
  Net Book Amounts
       
  At 31 January 2023 44,000 44,000
  At 31 January 2022 44,000 44,000
   
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 41,568 45,712
  Trade creditors 822 533
  Corporation tax 119 352
  Other taxes and social security 778 1,302
  Other creditors 12,119 17,488
    £55,406 £65,387
   
       
  The notes on pages 3-6 form part of these financial statements
   
  page 6