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Registered number: 05368919
Shadbolt Rope Access Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
1 Accounts Online Ltd
Rubine House
Manor Road
Haverhill
Suffolk
CB9 0EP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05368919
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 584,146 485,204
584,146 485,204
CURRENT ASSETS
Debtors 5 476,686 520,640
Cash at bank and in hand 625,159 569,067
1,101,845 1,089,707
Creditors: Amounts Falling Due Within One Year 6 (634,794 ) (548,010 )
NET CURRENT ASSETS (LIABILITIES) 467,051 541,697
TOTAL ASSETS LESS CURRENT LIABILITIES 1,051,197 1,026,901
Creditors: Amounts Falling Due After More Than One Year 7 (94,077 ) (161,452 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (4,872 ) (4,757 )
Deferred Taxation (86,684 ) (64,285 )
NET ASSETS 865,564 796,407
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 865,464 796,307
SHAREHOLDERS' FUNDS 865,564 796,407
Page 1
Page 2
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.
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 Wayne Jones
Director
Mr Paul Shadbolt
Director
2 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shadbolt Rope Access Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05368919 . The registered office is Rubine House, Manor Road, Haverhill, Suffolk, CB9 0EP.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Freehold 0% on land and 10% on buildings and improvements
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
Freehold property is depreciated at 0% as from 1 April 2017 as the fair value method is applied.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 46 (2023: 42)
46 42
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 210,000 232,328 375,431 16,722
Additions 71,576 31,613 121,224 674
Disposals - (108,670 ) (39,207 ) (12,140 )
As at 31 March 2024 281,576 155,271 457,448 5,256
Depreciation
As at 1 April 2023 - 154,061 193,870 11,823
Provided during the period - 26,421 54,949 1,395
Disposals - (90,316 ) (22,932 ) (9,918 )
As at 31 March 2024 - 90,166 225,887 3,300
Net Book Value
As at 31 March 2024 281,576 65,105 231,561 1,956
As at 1 April 2023 210,000 78,267 181,561 4,899
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 April 2023 42,653 877,134
Additions 2,595 227,682
Disposals (39,093 ) (199,110 )
As at 31 March 2024 6,155 905,706
Depreciation
As at 1 April 2023 32,176 391,930
Provided during the period 3,272 86,037
Disposals (33,241 ) (156,407 )
As at 31 March 2024 2,207 321,560
Net Book Value
As at 31 March 2024 3,948 584,146
As at 1 April 2023 10,477 485,204
The freehold property was valued at open market value as at 31 March 2024 by the director, Mr P J Shadbolt.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 166,576
Accumulated depreciation and impairment 17,100
Carrying amount 149,476
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 476,686 503,948
Other debtors - 16,692
476,686 520,640
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 58,585 54,801
Trade creditors 69,663 32,843
Bank loans and overdrafts 19,682 19,045
Corporation tax 49,563 203,159
Other taxes and social security 230,398 33,646
VAT 171,718 178,666
Net wages 162 -
Other creditors 13,497 12,558
Accruals and deferred income 1,736 8,150
Directors' loan accounts 19,790 5,142
634,794 548,010
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,334 80,933
Bank loans 61,743 80,519
94,077 161,452
8. Secured Creditors
Of the creditors the following amounts are secured via a fixed and floating charge over the assets of the company dated 24 October 2005 in the favour of HSBC Bank Plc.
2024 2023
£ £
Bank loans and overdrafts 81,425 99,564
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 58,585 54,801
Later than one year and not later than five years 32,334 80,933
90,919 135,734
90,919 135,734
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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