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REGISTERED NUMBER: 10142843 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

SHS Handling Solutions Ltd

SHS Handling Solutions Ltd (Registered number: 10142843)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


SHS Handling Solutions Ltd (Registered number: 10142843)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 257,726 170,636
257,726 170,636

CURRENT ASSETS
Stocks 1,449,396 1,496,690
Debtors 6 1,516,423 1,871,783
Cash at bank and in hand 1,321,080 156,323
4,286,899 3,524,796
CREDITORS
Amounts falling due within one year 7 (1,305,068 ) (1,654,051 )
NET CURRENT ASSETS 2,981,831 1,870,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,239,557

2,041,381

CREDITORS
Amounts falling due after more than one
year

8

(257,378

)

(17,319

)

PROVISIONS FOR LIABILITIES (64,432 ) (32,415 )
NET ASSETS 2,917,747 1,991,647

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,917,647 1,991,547
SHAREHOLDERS' FUNDS 2,917,747 1,991,647

SHS Handling Solutions Ltd (Registered number: 10142843)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 10 July 2024 and were signed on its behalf by:





Mr Y Dunn - Director


SHS Handling Solutions Ltd (Registered number: 10142843)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

SHS Handling Solutions Ltd is a private company, limited by shares, domiciled in England, registration number 10142843. The registered office is Units G1 - G3, Borough Road, Buckingham Road Industrial Estate, Brackley, NN13 7BE.

2. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services in respect of distribution of material handling equipment, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 50% on cost, 33% on cost, 25% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


SHS Handling Solutions Ltd (Registered number: 10142843)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. 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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 44,000
AMORTISATION
At 1 January 2023
and 31 December 2023 44,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

SHS Handling Solutions Ltd (Registered number: 10142843)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 353,527
Additions 151,741
At 31 December 2023 505,268
DEPRECIATION
At 1 January 2023 182,890
Charge for year 39,188
Eliminated on disposal 25,464
At 31 December 2023 247,542
NET BOOK VALUE
At 31 December 2023 257,726
At 31 December 2022 170,637

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 93,429
Additions 87,349
Transfer to ownership (33,969 )
At 31 December 2023 146,809
DEPRECIATION
At 1 January 2023 28,542
Eliminated on disposal 25,464
Transfer to ownership (19,937 )
At 31 December 2023 34,069
NET BOOK VALUE
At 31 December 2023 112,740
At 31 December 2022 64,887

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,331,814 1,806,850
Amounts owed by group undertakings 3,756 -
Other debtors 180,853 64,933
1,516,423 1,871,783

SHS Handling Solutions Ltd (Registered number: 10142843)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 62,481 23,093
Trade creditors 383,948 879,363
Amounts owed to group undertakings 98,500 670,223
Taxation and social security 716,747 39,295
Other creditors 43,392 42,077
1,305,068 1,654,051

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 83,071 17,319
Other creditors 174,307 -
257,378 17,319

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 174,307 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 145,552 40,412

Amounts due on hire purchase agreements are secured against the assets to which they relate.