Registered number
07887231
Easy Shift Limited
Filleted Accounts
31 December 2023
Easy Shift Limited
Registered number: 07887231
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,328 7,706
Current assets
Debtors 4 14,332 11,634
Cash at bank and in hand 9,629 864
23,961 12,498
Creditors: amounts falling due within one year 5 (22,936) (11,130)
Net current assets 1,025 1,368
Total assets less current liabilities 7,353 9,074
Creditors: amounts falling due after more than one year 6 (2,696) (4,799)
Net assets 4,657 4,275
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,557 4,175
Shareholders' funds 4,657 4,275
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J S Jefferson
Director
Approved by the board on 29 July 2024
Easy Shift Limited
Notes to the Accounts
for the year ended 31 December 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 represents the value, net of value added tax and discounts, of removal and storage services provided to customers. It is recognised as the work is done.
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
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 12
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 January 2023 21,952
Additions 732
At 31 December 2023 22,684
Depreciation
At 1 January 2023 14,246
Charge for the year 2,110
At 31 December 2023 16,356
Net book value
At 31 December 2023 6,328
At 31 December 2022 7,706
4 Debtors 2023 2022
£ £
Trade debtors - 1,090
Other debtors 14,332 10,544
14,332 11,634
5 Creditors: amounts falling due within one year 2023 2022
£ £
Non-equity preference shares 1,750 -
Bank loans and overdrafts 2,255 2,255
Trade creditors 13,493 1,410
Taxation and social security costs 5,438 7,465
22,936 11,130
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,696 4,799
7 Related party transactions
Other debtors is represented by the directors loan of £14,332. This was repaid on 29 July 2024.
8 Controlling party
The company is controlled by J S Jefferson.
9 Other information
Easy Shift Limited is a private company limited by shares and incorporated in England. Its registered office is:
C/O Jacksons Chartered Accountants Albion House
32 Albion Street
Hull
East Yorkshire
HU1 3TE
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