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REGISTERED NUMBER: 04402381 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Shane Howells Limited

Shane Howells Limited (Registered number: 04402381)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Shane Howells Limited

Company Information
for the Year Ended 31 March 2024







Directors: S Howells
Mrs C L Howells





Secretary: Mrs C L Howells





Registered office: 10 The Southend
Ledbury
Herefordshire
HR8 2EY





Registered number: 04402381 (England and Wales)





Accountants: Crowthers Chartered Accountants
10 The Southend
Ledbury
Herefordshire
HR8 2EY

Shane Howells Limited (Registered number: 04402381)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 58,048 60,597
58,048 60,597

CURRENT ASSETS
Stocks 79,068 141,940
Debtors 6 58,218 54,232
Cash at bank and in hand 322,384 457,209
459,670 653,381
CREDITORS
Amounts falling due within one year 7 136,053 229,165
NET CURRENT ASSETS 323,617 424,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

381,665

484,813

PROVISIONS FOR LIABILITIES 12,454 9,850
NET ASSETS 369,211 474,963

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 369,209 474,961
SHAREHOLDERS' FUNDS 369,211 474,963

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

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

Shane Howells Limited (Registered number: 04402381)

Statement of Financial Position - continued
31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:




S Howells - Director



Mrs C L Howells - Director


Shane Howells Limited (Registered number: 04402381)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Shane Howells 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.

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.

The functional currency of Shane Howells Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Therefore actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Within the company, the area where significant judgements and estimates are made by the director is in the stock valuation. Stock of materials is valued on a cost price basis but is subject to ongoing reviews and a provision made where the director is of the opinion that specific items are slow moving and require being written down to net realisable value. At the year-end, the director has no concerns over the recoverability of the company's stock balance as shown on The Statement of Financial Position.

Turnover
Turnover represents the value of goods sold during the period net of VAT. Turnover is recognised when goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of one 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 etc - 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

Shane Howells Limited (Registered number: 04402381)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stock of goods is valued at the lower of cost and net realisable value.

Cost represents the purchase price of goods plus an apportionment of the relevant costs in transporting the goods to the company's storage locations. This would include relevant duty charges, dock charges and handling fees for imports, apportioned per item that the costs relate to.

Net realisable value represents the selling price of completed goods less any costs necessary to complete the goods. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

Shane Howells Limited (Registered number: 04402381)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 1
Amortisation
At 1 April 2023
and 31 March 2024 1
Net book value
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 April 2023 244,928
Additions 12,964
At 31 March 2024 257,892
Depreciation
At 1 April 2023 184,331
Charge for year 15,513
At 31 March 2024 199,844
Net book value
At 31 March 2024 58,048
At 31 March 2023 60,597

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,908 15,656
Amounts recoverable on contract 14,660 32,427
Other debtors - 499
Prepayments 5,650 5,650
58,218 54,232

Shane Howells Limited (Registered number: 04402381)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 58,508 77,098
Tax 13,304 16,397
Social security and other taxes 22,875 46,707
Directors' current accounts 163 163
Accruals and deferred income 41,203 88,800
136,053 229,165

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £163 (2023: £163 ) owed to the directors, no interest has been charged on this loan. The loan is repayable on demand and is unsecured.