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Registered number: 11075005
Shail Eric Limited
Financial Statements
For The Year Ended 30 November 2023
Tate Accounting Services
66 Summerdown Walk
Trowbridge
Wilts
BA14 0LE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11075005
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,332 17,340
19,332 17,340
CURRENT ASSETS
Stocks 5 9,156 10,922
Debtors 6 9,499 5,682
Cash at bank and in hand 54,624 50,804
73,279 67,408
Creditors: Amounts Falling Due Within One Year 7 (92,877 ) (84,131 )
NET CURRENT ASSETS (LIABILITIES) (19,598 ) (16,723 )
TOTAL ASSETS LESS CURRENT LIABILITIES (266 ) 617
Creditors: Amounts Falling Due After More Than One Year 8 (15,997 ) (25,859 )
NET LIABILITIES (16,263 ) (25,242 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (16,265 ) (25,244 )
SHAREHOLDERS' FUNDS (16,263) (25,242)
Page 1
Page 2
For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Harald Bret
Director
30 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shail Eric Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11075005 . The registered office is 2 Saville Row, Bath, BA1 2QP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over the term of the 20 year lease
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
Sales, marketing and distribution 12 11
14 13
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 5,513 20,525 10,146 1,280 37,464
Additions - 6,985 1,246 515 8,746
Disposals - (4,244 ) (463 ) (627 ) (5,334 )
As at 30 November 2023 5,513 23,266 10,929 1,168 40,876
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 December 2022 1,103 11,720 6,721 580 20,124
Provided during the period 275 3,229 1,131 239 4,874
Disposals - (2,767 ) (316 ) (371 ) (3,454 )
As at 30 November 2023 1,378 12,182 7,536 448 21,544
Net Book Value
As at 30 November 2023 4,135 11,084 3,393 720 19,332
As at 1 December 2022 4,410 8,805 3,425 700 17,340
5. Stocks
2023 2022
£ £
Stocks 9,156 10,922
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,790 70
Prepayments and accrued income 2,376 2,279
6,166 2,349
Due after more than one year
Deposits 3,333 3,333
9,499 5,682
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 16,038 17,208
Bank loans and overdrafts 10,648 10,648
VAT 18,155 13,437
Net Payroll 2,992 1,440
Accruals 10,027 6,377
Directors' loan accounts 35,017 35,021
92,877 84,131
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,997 25,859
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4
Page 5
10. Controlling Party
Control of the company is held equally by Mr Harald Bret and Mr David Power by virtue of their ownership of 50% each of the issued share capital.
Page 5