Registered number
01195363
Frank Shaw (Bayonet) Limited
Filleted Accounts
31 December 2023
Frank Shaw (Bayonet) Limited
Company Information
Director
S Juby
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Unit A2
Goodridge Avenue
Gloucester
Glos
Registered number
01195363
Frank Shaw (Bayonet) Limited
Registered number: 01195363
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,130 22,095
Current assets
Stocks 347,447 342,917
Debtors 4 181,832 180,053
Cash at bank and in hand 102,888 51,014
632,167 573,984
Creditors: amounts falling due within one year 5 (54,282) (48,470)
Net current assets 577,885 525,514
Net assets 603,015 547,609
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 553,015 497,609
Shareholder's funds 603,015 547,609
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Juby
Director
Approved by the board on 31 August 2024
Frank Shaw (Bayonet) Limited
Notes to the Accounts
for the year ended 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:
Plant and machinery over four years
Computer and office equipment over four years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Plant and machinery Computers and office equipment Total
£ £ £
Cost
At 1 January 2023 170,149 27,418 197,567
Additions 17,849 1,340 19,189
At 31 December 2023 187,998 28,758 216,756
Depreciation
At 1 January 2023 148,679 26,793 175,472
Charge for the year 15,194 960 16,154
At 31 December 2023 163,873 27,753 191,626
Net book value
At 31 December 2023 24,125 1,005 25,130
At 31 December 2022 21,470 625 22,095
4 Debtors 2023 2022
£ £
Trade debtors 134,140 144,418
Intercompany loan - Weyland Group (Holdings) Limited 34,000 -
Other debtors 13,692 35,635
181,832 180,053
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 27,302 17,393
Taxation and social security costs 13,393 7,340
Directors loan account 12,087 12,087
Other creditors 1,500 11,650
54,282 48,470
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 86,534 73,804
7 Controlling party
The company is a wholly owned subsidary of Frank Shaw (Bayonet) Holdings Limited.
8 Other information
Frank Shaw (Bayonet) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit A2
Goodridge Avenue
Gloucester
Glos
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