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REGISTERED NUMBER: 06533943 (England and Wales)















S.H.I.P.P. Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






S.H.I.P.P. Limited (Registered number: 06533943)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


S.H.I.P.P. Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: S Baker
Mrs J Baker





SECRETARY: Mrs J Baker





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
Northamptonshire
NN1 4EP





BUSINESS ADDRESS: 29 Conyngham Road
Little Billing
Northampton
NN3 9TA





REGISTERED NUMBER: 06533943 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

S.H.I.P.P. Limited (Registered number: 06533943)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 30,000 37,500
Tangible assets 6 1,430 2,021
31,430 39,521

CURRENT ASSETS
Stocks 100 100
Debtors 7 36,535 9,093
Cash at bank 14,060 60,821
50,695 70,014
CREDITORS
Amounts falling due within one year 8 54,278 45,374
NET CURRENT (LIABILITIES)/ASSETS (3,583 ) 24,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,847

64,161

CREDITORS
Amounts falling due after more than one
year

9

(11,793

)

(22,428

)

PROVISIONS FOR LIABILITIES 11 (100 ) (200 )
NET ASSETS 15,954 41,533

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 15,854 41,433
SHAREHOLDERS' FUNDS 15,954 41,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

S.H.I.P.P. Limited (Registered number: 06533943)

Balance Sheet - continued
31st March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd June 2024 and were signed on its behalf by:





S Baker - Director


S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

S.H.I.P.P. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company in the year under review was that of the provision of plumbing and heating services.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 150,000
AMORTISATION
At 1st April 2023 112,500
Amortisation for year 7,500
At 31st March 2024 120,000
NET BOOK VALUE
At 31st March 2024 30,000
At 31st March 2023 37,500

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 3,124 3,360 10,500 16,984
DEPRECIATION
At 1st April 2023 2,669 3,197 9,097 14,963
Charge for year 155 86 350 591
At 31st March 2024 2,824 3,283 9,447 15,554
NET BOOK VALUE
At 31st March 2024 300 77 1,053 1,430
At 31st March 2023 455 163 1,403 2,021

S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,256 7,896
Other debtors 1,279 1,197
36,535 9,093

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 10,068 10,072
Trade creditors 15,654 684
Taxation and social security 15,812 26,467
Other creditors 12,744 8,151
54,278 45,374

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 11,793 22,428

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,068 10,072

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,323 10,326

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,470 12,102

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 100 200

Deferred
tax
£   
Balance at 1st April 2023 200
Credit to Income Statement during year (100 )
Balance at 31st March 2024 100

S.H.I.P.P. Limited (Registered number: 06533943)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

13. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2024 or 31st March 2023.

14. CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2024 or 31st March 2023.