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Company No: 12083057 (England and Wales)

SHINCSHEX LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

SHINCSHEX LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

SHINCSHEX LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
SHINCSHEX LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR S Francis
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 12083057 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
SHINCSHEX LIMITED

BALANCE SHEET

As at 31 July 2023
SHINCSHEX LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 36,926 47,314
Tangible assets 4 4,232 4,336
41,158 51,650
Current assets
Debtors 5 153 2,337
Cash at bank and in hand 19,044 25,848
19,197 28,185
Creditors: amounts falling due within one year 6 ( 53,691) ( 49,207)
Net current liabilities (34,494) (21,022)
Total assets less current liabilities 6,664 30,628
Provision for liabilities 7 ( 1,058) ( 1,084)
Net assets 5,606 29,544
Capital and reserves
Called-up share capital 100 100
Profit and loss account 5,506 29,444
Total shareholder's funds 5,606 29,544

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of ShincShex Limited (registered number: 12083057) were approved and authorised for issue by the Director on 27 December 2023. They were signed on its behalf by:

S Francis
Director
SHINCSHEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
SHINCSHEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ShincShex Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Computer software Total
£ £
Cost
At 01 August 2022 51,938 51,938
At 31 July 2023 51,938 51,938
Accumulated amortisation
At 01 August 2022 4,624 4,624
Charge for the financial year 10,388 10,388
At 31 July 2023 15,012 15,012
Net book value
At 31 July 2023 36,926 36,926
At 31 July 2022 47,314 47,314

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 August 2022 6,900 6,900
Additions 833 833
At 31 July 2023 7,733 7,733
Accumulated depreciation
At 01 August 2022 2,564 2,564
Charge for the financial year 937 937
At 31 July 2023 3,501 3,501
Net book value
At 31 July 2023 4,232 4,232
At 31 July 2022 4,336 4,336

5. Debtors

2023 2022
£ £
Other debtors 153 2,337

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 53,691 49,207

7. Provision for liabilities

2023 2022
£ £
Other provisions 1,058 1,084