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COMPANY REGISTRATION NUMBER: 11641444
Shaftesbury UK Distribution Ltd
Filleted Unaudited Accounts
31 May 2023
Shaftesbury UK Distribution Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Current assets
Debtors
5
4,699,587
2,474,121
Cash at bank and in hand
1,901,989
1,830,339
------------
------------
6,601,576
4,304,460
Creditors: amounts falling due within one year
6
( 6,601,575)
( 4,304,459)
------------
------------
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Net assets
1
1
----
----
Capital and reserves
Called up share capital
7
1
1
----
----
Shareholders funds
1
1
----
----
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
These accounts were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
A S Garvie
Director
Company registration number: 11641444
Shaftesbury UK Distribution Ltd
Notes to the Accounts
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, London, WC2H 7DQ, United Kingdom.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employees
No directors remuneration was paid or is payable during the year for services provided to the Company.
During the year, the average monthly number of employees calculated on a full-time basis was nil (2022: nil).
5. Debtors
2023
2022
£
£
Trade debtors
4,699,587
2,474,121
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,091,832
Amounts owed to group undertakings
4,263,514
397,045
Accruals and deferred income
1,217,763
3,893,144
Social security and other taxes
28,466
14,270
------------
------------
6,601,575
4,304,459
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.01 each
100
1
100
1
----
----
----
----
8. Contingent liabilities
Charges have been made against the company in favour of the following parties to secure their interests in the interests in the activity of the company: HSBC Bank Canada Starlings Tv Distribution, Llc Royal Bank of Canada
9. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
10. Controlling party
There is no one overall controlling party of the company.