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Company Registration No. 07968738 (England and Wales)
SBS Shopfitters Limited Unaudited accounts for the year ended 31 March 2024
SBS Shopfitters Limited Unaudited accounts Contents
Page
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SBS Shopfitters Limited Company Information for the year ended 31 March 2024
Directors
Mr Kevin John Shillito Mr Paul Andrew Shaw Mr Darren Brook
Company Number
07968738 (England and Wales)
Registered Office
ARMITAGE STREET CASTLEFORD WEST YORKSHIRE WF10 1LH
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SBS Shopfitters Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,386 
17,012 
Current assets
Inventories
200,180 
298,003 
Debtors
181,835 
239,383 
Cash at bank and in hand
31,781 
- 
413,796 
537,386 
Creditors: amounts falling due within one year
(278,469)
(478,781)
Net current assets
135,327 
58,605 
Total assets less current liabilities
148,713 
75,617 
Creditors: amounts falling due after more than one year
(12,231)
(22,435)
Provisions for liabilities
Deferred tax
(3,347)
(3,232)
Net assets
133,135 
49,950 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
133,132 
49,947 
Shareholders' funds
133,135 
49,950 
For the year ending 31 March 2024 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 24 July 2024 and were signed on its behalf by
Mr Darren Brook Director Company Registration No. 07968738
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SBS Shopfitters Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
SBS Shopfitters Limited is a private company, limited by shares, registered in England and Wales, registration number 07968738. The registered office is ARMITAGE STREET, CASTLEFORD, WEST YORKSHIRE, WF10 1LH.
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 presentation currency is £ sterling.
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.
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:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
33% straight line
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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SBS Shopfitters Limited Notes to the Accounts for the year ended 31 March 2024
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.
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.
COVID-19
The Company continues to make repayment of the Bounce Back Loan in accordance with the terms of such.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
45,181 
21,015 
17,978 
5,170 
89,344 
At 31 March 2024
45,181 
21,015 
17,978 
5,170 
89,344 
Depreciation
At 1 April 2023
36,334 
16,554 
14,275 
5,169 
72,332 
Charge for the year
1,770 
1,115 
740 
1 
3,626 
At 31 March 2024
38,104 
17,669 
15,015 
5,170 
75,958 
Net book value
At 31 March 2024
7,077 
3,346 
2,963 
- 
13,386 
At 31 March 2023
8,847 
4,461 
3,703 
1 
17,012 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
166,751 
231,264 
Accrued income and prepayments
15,084 
8,119 
181,835 
239,383 
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SBS Shopfitters Limited Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,204 
51,347 
VAT
44,851 
27,770 
Trade creditors
44,290 
58,805 
Taxes and social security
62,978 
906 
Other creditors
1,518 
9,594 
Loans from directors
113,888 
329,664 
Accruals
740 
695 
278,469 
478,781 
Loans to directors are repayable on demand.
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,231 
22,435 
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
3,347 
3,232 
2024 
2023 
£ 
£ 
Provision at start of year
3,232 
4,154 
Charged/(credited) to the profit and loss account
115 
(922)
Provision at end of year
3,347 
3,232 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3 
3 
10
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
14,500 
12,750 
Later than one year and not later than five years
29,000 
- 
43,500 
12,750 
11
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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