Registered number
04760699
Shorade Bristol Limited
Filleted Accounts
31 December 2023
Shorade Bristol Limited
Registered number: 04760699
Balance Sheet
as at 31 December 2023
Notes 31/12/23 30/6/23
£ £
Fixed assets
Tangible assets 3 358,342 348,999
Current assets
Stocks 50,000 52,500
Debtors 4 272,209 294,644
Cash at bank and in hand 28,796 81,283
351,005 428,427
Creditors: amounts falling due within one year 5 (212,374) (368,615)
Net current assets 138,631 59,812
Total assets less current liabilities 496,973 408,811
Creditors: amounts falling due after more than one year 6 (122,768) (168,490)
Net assets 374,205 240,321
Capital and reserves
Called up share capital 69 69
Capital redemption reserve 34 34
Profit and loss account 374,102 240,218
Shareholders' funds 374,205 240,321
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.
S A Shore M S O'Keefe L J R Coupland
Director
Approved by the board on 30 April 2024
Shorade Bristol Limited
Notes to the Accounts
for the period from 1 July 2023 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:
Leasehold land and buildings over the lease term
Plant and machinery 10% reducing balance
Office equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 31/12/23 30/6/23
Number Number
Average number of persons employed by the company 20 19
3 Tangible fixed assets
Land and buildings Plant and machinery Office equipment Total
£ £ £ £
Cost
At 1 July 2023 40,593 567,613 24,030 632,236
Additions 12,220 38,297 - 50,517
At 31 December 2023 52,813 605,910 24,030 682,753
Depreciation
At 1 July 2023 38,529 237,246 7,462 283,237
Charge for the period 1,490 38,116 1,568 41,174
At 31 December 2023 40,019 275,362 9,030 324,411
Net book value
At 31 December 2023 12,794 330,548 15,000 358,342
At 30 June 2023 2,064 330,367 16,568 348,999
4 Debtors 31/12/23 30/6/23
£ £
Trade debtors 57,503 133,250
Amounts owed by group undertakings and undertakings in which the company has a participating interest 196,092 126,092
Other debtors 18,614 35,302
272,209 294,644
5 Creditors: amounts falling due within one year 31/12/23 30/6/23
£ £
Trade creditors 109,656 225,534
Taxation and social security costs 92,605 104,970
Other creditors 10,113 38,111
212,374 368,615
6 Creditors: amounts falling due after one year 31/12/23 30/6/23
£ £
Obligations under finance lease and hire purchase contracts 122,768 168,490
7 Controlling party
The company is controlled by the directors.
8 Other information
Shorade Bristol Limited is a private company limited by shares and incorporated in England. Its registered office is:
Shorade House
Walsall Road
Cannock
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