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
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
Shadowfax Technology Limited
Statement of financial position
as at 31 December 2023
Intangible assets
23,213
30,950
Tangible assets
25,372
19,422
Cash at bank and in hand
40,908
83,791
Creditors: amounts falling due within one year
(167,989)
(215,604)
Net current assets
32,896
66,412
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
Shadowfax Technology Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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 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 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 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.
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.
Shadowfax Technology Limited
Notes to the Accounts
for the year ended 31 December 2023
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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Intangible fixed assets
Goodwill
At 31 December 2023
38,687
At 31 December 2023
15,474
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
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Tangible fixed assets
Fixtures & fittings
At 31 December 2023
71,620
At 31 December 2023
46,248
At 31 December 2023
25,372
At 31 December 2022
19,422
Shadowfax Technology Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
157,977
196,675
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
29,922
39,415
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
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Average number of employees
During the year the average number of employees was 14 (2022: 14).