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REGISTERED NUMBER: 01960390 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JOHN SHAW LIMITED

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN SHAW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S C Willis
J B Sykes
Mrs D M Sykes





REGISTERED OFFICE: Holmes Hill
Whitesmith
Lewes
East Sussex
BN8 6JA





REGISTERED NUMBER: 01960390 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,521,102 1,449,475

CURRENT ASSETS
Stocks 2,661,357 2,206,737
Debtors 5 145,792 98,380
Cash at bank and in hand 11,019 78
2,818,168 2,305,195
CREDITORS
Amounts falling due within one year 6 (2,139,663 ) (1,545,025 )
NET CURRENT ASSETS 678,505 760,170
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,199,607

2,209,645

CREDITORS
Amounts falling due after more than one
year

7

(80,243

)

(100,000

)

PROVISIONS FOR LIABILITIES (42,380 ) (36,864 )
NET ASSETS 2,076,984 2,072,781

CAPITAL AND RESERVES
Called up share capital 10 6,139 6,139
Share premium 19,970 19,970
Revaluation reserve 11 409,963 409,963
Retained earnings 1,640,912 1,636,709
SHAREHOLDERS' FUNDS 2,076,984 2,072,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





J B Sykes ACA - Director


JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

John Shaw 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.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Sales of new motorbikes are recognised to the profit and loss account on delivery of the motorbike. Deposits received in advance of the sale are held as a liability within the balance sheet.

Tangible fixed assets
Tangible fixed assets other than freehold property and land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery - 20% on a reducing balance basis.
Fixtures and equipment - 20% on a reducing balance basis.
Motor vehicles - 25% on a reducing balance basis.

No depreciation is charged on the freehold property because residual values are expected to exceed cost.

Stocks and work in progress
Stock is valued at the lower of cost and net realisable value. A provision is made for old slow moving and obsolete stock of parts and likewise a write down is made on part exchanged vehicles which are sold on.

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

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.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 23 (2022 - 23 ) .

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 1,256,980 148,927 439,342 141,795 1,987,044
Additions 62,424 3,100 28,318 32,990 126,832
Disposals - - - (26,932 ) (26,932 )
At 31 December 2023 1,319,404 152,027 467,660 147,853 2,086,944
DEPRECIATION
At 1 January 2023 - 108,258 336,040 93,271 537,569
Charge for year - 8,185 23,222 17,407 48,814
Eliminated on disposal - - - (20,541 ) (20,541 )
At 31 December 2023 - 116,443 359,262 90,137 565,842
NET BOOK VALUE
At 31 December 2023 1,319,404 35,584 108,398 57,716 1,521,102
At 31 December 2022 1,256,980 40,669 103,302 48,524 1,449,475

The 2014 valuation for land and buildings of £1.1m was taken as the deemed cost value on transition to FRS 102.

The historical cost of Freehold Property included above is £892,121 and the aggregate depreciation thereon would have been £68,450.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80,501 23,593
Other debtors 65,291 74,787
145,792 98,380

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 190,881 185,088
Hire purchase contracts (see note 8) 5,534 -
Payments on account 115,411 93,116
Trade creditors 669,225 478,557
Taxation and social security 82,816 129,231
Other creditors 1,075,796 659,033
2,139,663 1,545,025

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 60,000 100,000
Hire purchase contracts (see note 8) 20,243 -
80,243 100,000

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,534 -
Between one and five years 20,243 -
25,777 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 26,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 150,881 145,088
Hire purchase contracts 25,777 -
176,658 145,088

The overdraft is secured by way of floating charges over the assets of the company.

The hire purchase liability is secured on the asset that it relates to.

JOHN SHAW LIMITED (REGISTERED NUMBER: 01960390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 A Ordinary £1 5,000 5,000
1,139 B Ordinary £1 1,139 1,139
6,139 6,139

11. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 409,963

12. RELATED PARTY DISCLOSURES

During the year the company paid management fees totalling £17,000 (2022 - £72,000) to SHD Sussex LLP, the owner of the company.

At the year end the company owed £1,048,783 (2022 - £637,283) to a director.