Company No:
Contents
Note | 2023 | 2022 | ||
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Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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8,705 | 12,356 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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875,535 | 1,151,019 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 495,672 | 749,874 | ||
Total assets less current liabilities | 504,377 | 762,230 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Share premium account |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Shipley Limited (registered number:
L M Retter
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Shipley Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Abbey Manor Business Centre, Preston Road, Yeovil, BA20 2EN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Fixtures and fittings |
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Office equipment |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals payable under operating leases are charged in the profit and loss on a straight line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Fixtures and fittings | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 January 2023 |
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Additions |
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At 31 December 2023 |
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Accumulated depreciation | |||||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||||
At 31 December 2023 |
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At 31 December 2022 |
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£ | £ | ||
Subsidiary undertakings |
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Investments in subsidiaries
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£ | |
Cost | |
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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2023 | 2022 | ||
£ | £ | ||
Stocks |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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£ | £ | ||
Other creditors |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
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£ | £ | ||
within one year |
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between one and five years |
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