Registered number
03268924
Shaws Fencing Ltd
Filleted Accounts
31 October 2023
Shaws Fencing Ltd
Registered number: 03268924
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,198 2,930
Current assets
Cash at bank and in hand - 8,345
Creditors: amounts falling due within one year 4 (9,377) (11,652)
Net current liabilities (9,377) (3,307)
Total assets less current liabilities (7,179) (377)
Creditors: amounts falling due after more than one year 5 (5,000) (8,000)
Net liabilities (12,179) (8,377)
Capital and reserves
Called up share capital 1 1
Profit and loss account (12,180) (8,378)
Shareholder's funds (12,179) (8,377)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr PG Shaw
Director
Approved by the board on 5 February 2024
Shaws Fencing Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 220 20,708 20,928
At 31 October 2023 220 20,708 20,928
Depreciation
At 1 November 2022 55 17,943 17,998
Charge for the year 41 691 732
At 31 October 2023 96 18,634 18,730
Net book value
At 31 October 2023 124 2,074 2,198
At 31 October 2022 165 2,765 2,930
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,461 3,000
Taxation and social security costs 2,421 7,264
Director's loan account 1,095 588
Accruals 400 800
9,377 11,652
During the year, the company made advances to its director totalling £1,031 (2022 £9,259). These advances were fully paid off before the respective year ends. The advances were interest-free and repayable on demand.
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,000 8,000
6 Controlling party
The company is controlled by Mr PG Shaw, who holds the entire share capital.
7 Other information
Shaws Fencing Ltd is a private company limited by shares and incorporated in Cardiff. Its registered office is:
27 Dane Bank Road
Northwich
CW9 5PL
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