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REGISTERED NUMBER: 07202597 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

SHINDAIWA LIMITED

SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SHINDAIWA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: K D Lucas
A J Munford
T M Page
D G G Richards





REGISTERED OFFICE: No 6 The Dell
Enterprise Drive
Four Ashes
Wolverhampton
West Midlands
WV10 7DF





REGISTERED NUMBER: 07202597 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 111,817 102,425
Investments 5 1 1
111,818 102,426

Current assets
Stocks 1,397,035 1,256,186
Debtors 6 622,651 962,940
Cash at bank and in hand 174,219 241,115
2,193,905 2,460,241
Creditors
Amounts falling due within one year 7 (520,487 ) (1,055,340 )
Net current assets 1,673,418 1,404,901
Total assets less current liabilities 1,785,236 1,507,327

Creditors
Amounts falling due after more than one
year

8

(17,642

)

(10,175

)

Provisions for liabilities (27,955 ) (19,461 )
Net assets 1,739,639 1,477,691

Capital and reserves
Called up share capital 93 100
Capital redemption reserve 7 -
Retained earnings 1,739,539 1,477,591
1,739,639 1,477,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th August 2024 and were signed on its behalf by:




A J Munford - Director T M Page - Director




D G G Richards - Director


SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Shindaiwa Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023 97,910 41,111 123,845 262,866
Additions 2,808 4,798 35,500 43,106
Disposals - - (28,500 ) (28,500 )
At 31st March 2024 100,718 45,909 130,845 277,472
DEPRECIATION
At 1st April 2023 53,345 21,213 85,883 160,441
Charge for year 8,985 6,769 17,959 33,713
Eliminated on disposal - - (28,499 ) (28,499 )
At 31st March 2024 62,330 27,982 75,343 165,655
NET BOOK VALUE
At 31st March 2024 38,388 17,927 55,502 111,817
At 31st March 2023 44,565 19,898 37,962 102,425

SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023 52,000
Disposals (28,500 )
At 31st March 2024 23,500
DEPRECIATION
At 1st April 2023 37,771
Charge for year 8,843
Eliminated on disposal (28,499 )
At 31st March 2024 18,115
NET BOOK VALUE
At 31st March 2024 5,385
At 31st March 2023 14,229

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st April 2023
and 31st March 2024 1
NET BOOK VALUE
At 31st March 2024 1
At 31st March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 508,228 901,998
Amounts owed by group undertakings 57,281 15,466
Other debtors 57,142 45,476
622,651 962,940

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 20,610 17,125
Trade creditors 192,575 370,394
Taxation and social security 283,797 372,047
Other creditors 23,505 295,774
520,487 1,055,340

SHINDAIWA LIMITED (REGISTERED NUMBER: 07202597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 17,642 10,175