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Company Registration No. 02500412 (England and Wales)
Shadowfax Technology Limited Unaudited accounts for the year ended 31 December 2023
Shadowfax Technology Limited Unaudited accounts Contents
Page
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Shadowfax Technology Limited Company Information for the year ended 31 December 2023
Directors
Adam Pedder Vanessa Pedder David Read Nuno Soares
Company Number
02500412 (England and Wales)
Registered Office
UNIT 2 HATFIELD REGIS GRANGE ESTATE HATFIELD BROAD OAK BISHOP'S STORTFORD ESSEX CM22 7JZ ENGLAND
Accountants
Redbox Accountancy Limited New Mead Barn Wickham Hall, Hadham Road Bishop's Stortford Hertfordshire CM23 1JG
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Shadowfax Technology Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
23,213 
30,950 
Tangible assets
25,372 
19,422 
48,585 
50,372 
Current assets
Inventories
1,550 
1,550 
Debtors
158,427 
196,675 
Cash at bank and in hand
40,908 
83,791 
200,885 
282,016 
Creditors: amounts falling due within one year
(167,989)
(215,604)
Net current assets
32,896 
66,412 
Net assets
81,481 
116,784 
Capital and reserves
Called up share capital
1,500 
1,500 
Share premium
42,616 
42,616 
Profit and loss account
37,365 
72,668 
Shareholders' funds
81,481 
116,784 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by
Vanessa Pedder Director Company Registration No. 02500412
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Shadowfax Technology Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Shadowfax Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 02500412. The registered office is UNIT 2 HATFIELD REGIS GRANGE ESTATE, HATFIELD BROAD OAK, BISHOP'S STORTFORD, ESSEX, CM22 7JZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance Basis
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Shadowfax Technology Limited Notes to the Accounts for the year ended 31 December 2023
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
38,687 
At 31 December 2023
38,687 
Amortisation
At 1 January 2023
7,737 
Charge for the year
7,737 
At 31 December 2023
15,474 
Net book value
At 31 December 2023
23,213 
At 31 December 2022
30,950 
Intangible Goodwill is being amortised over 5 years on a straight line basis
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2023
57,212 
Additions
14,408 
At 31 December 2023
71,620 
Depreciation
At 1 January 2023
37,790 
Charge for the year
8,458 
At 31 December 2023
46,248 
Net book value
At 31 December 2023
25,372 
At 31 December 2022
19,422 
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Shadowfax Technology Limited Notes to the Accounts for the year ended 31 December 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
157,977 
196,675 
Other debtors
450 
- 
158,427 
196,675 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
29,922 
39,415 
VAT
52,267 
59,829 
Trade creditors
42,624 
51,352 
Taxes and social security
50,355 
57,566 
Other creditors
1,158 
6,382 
Loans from directors
(8,337)
1,060 
167,989 
215,604 
8
Average number of employees
During the year the average number of employees was 14 (2022: 14).
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