Registered number
13595123
Shorade UK Limited
Filleted Accounts
31 December 2023
Shorade UK Limited
Registered number: 13595123
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 174,570 226,294
Investments 4 1,147,068 1,147,068
1,321,638 1,373,362
Current assets
Debtors 5 53,839 70,065
Cash at bank and in hand 117,573 14,713
171,412 84,778
Creditors: amounts falling due within one year 6 (51,516) (464,210)
Net current assets/(liabilities) 119,896 (379,432)
Total assets less current liabilities 1,441,534 993,930
Creditors: amounts falling due after more than one year 7 (1,388,063) (891,487)
Net assets 53,471 102,443
Capital and reserves
Called up share capital 300 300
Profit and loss account 53,171 102,143
Shareholders' funds 53,471 102,443
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.
L J R Coupland
Director
Approved by the board on 31 March 2024
Shorade UK Limited
Notes to the Accounts
for the period from 1 September 2022 to 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 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:
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 232,760
At 31 December 2023 232,760
Depreciation
At 1 September 2022 6,466
Charge for the period 51,724
At 31 December 2023 58,190
Net book value
At 31 December 2023 174,570
At 31 August 2022 226,294
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 September 2022 1,147,068
At 31 December 2023 1,147,068
5 Debtors 2023 2022
£ £
Trade debtors 25,039 41,265
Other debtors 28,800 28,800
53,839 70,065
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,371 5,407
Taxation and social security costs 25,145 20,828
Other creditors 18,000 437,975
51,516 464,210
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 158,179 -
Other creditors 1,229,884 891,487
1,388,063 891,487
8 Controlling party
The company is controlled by the directors.
9 Other information
Shorade UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Shorade House
Walsall Road
Cannock
WS11 0HP
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