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REGISTERED NUMBER: 09191926 (England and Wales)












S & K SHIRLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S & K SHIRLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Dr K A D Gilmore
Dr S Gilmore-Parvazi





REGISTERED OFFICE: 34 Shirley Avenue
Shirley
Southampton
Hampshire
SO15 5NG





REGISTERED NUMBER: 09191926 (England and Wales)

S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 119,861 138,882

CURRENT ASSETS
Stocks 12,000 6,900
Debtors 5 471,008 156,708
Cash at bank 281,075 484,039
764,083 647,647
CREDITORS
Amounts falling due within one year 6 (203,332 ) (216,344 )
NET CURRENT ASSETS 560,751 431,303
TOTAL ASSETS LESS CURRENT
LIABILITIES

680,612

570,185

CREDITORS
Amounts falling due after more than one
year

7

(47,667

)

(83,911

)

PROVISIONS FOR LIABILITIES (23,238 ) (29,171 )
NET ASSETS 609,707 457,103

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 609,705 457,101
609,707 457,103

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

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

S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

BALANCE SHEET - continued
31 AUGUST 2023


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 22 August 2024 and were signed on its behalf by:





Dr K A D Gilmore - Director


S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

S & K Shirley 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold improvements - Straight line over 10 years
Furniture, fittings and equipment - 20% Reducing balance and Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 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 15 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Furniture,
fittings
Leasehold and
improvements equipment Totals
£ £ £
COST
At 1 September 2022 42,948 213,755 256,703
Additions 11,400 200 11,600
At 31 August 2023 54,348 213,955 268,303
DEPRECIATION
At 1 September 2022 20,749 97,072 117,821
Charge for year 6,689 23,932 30,621
At 31 August 2023 27,438 121,004 148,442
NET BOOK VALUE
At 31 August 2023 26,910 92,951 119,861
At 31 August 2022 22,199 116,683 138,882

S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 980 3,109
Other debtors 470,028 153,599
471,008 156,708

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 26,000 26,000
Hire purchase contracts 10,244 6,597
Trade creditors 62,986 80,266
Taxation and social security 95,141 96,314
Other creditors 8,961 7,167
203,332 216,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 47,667 73,667
Hire purchase contracts - 10,244
47,667 83,911

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 73,667 99,667
Hire purchase contracts 10,244 16,841
83,911 116,508

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £15,552 (2022: £21,069).

S & K SHIRLEY LIMITED (REGISTERED NUMBER: 09191926)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £419,822 (2022: £135,998) were made by the company to the directors'. Repayments of £138,299 (2022: £259,492) were made by the directors' in the year. The balance owed by the directors' to the company at the year-end was £383,751 (2022: £102,228). Interest has been charged at HMRC's official rate of interest and the advances are repayable on demand.

11. RELATED PARTY DISCLOSURES

At the year-end the company was owed £49,914 (2022: £39,914) by a company under common control. The loan is interest free.