IRIS Accounts Production v24.3.0.553 01675196 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh016751962023-02-28016751962024-02-29016751962023-03-012024-02-29016751962022-02-28016751962022-03-012023-02-28016751962023-02-2801675196ns15:EnglandWales2023-03-012024-02-2901675196ns14:PoundSterling2023-03-012024-02-2901675196ns10:Director12023-03-012024-02-2901675196ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2901675196ns10:SmallEntities2023-03-012024-02-2901675196ns10:AuditExemptWithAccountantsReport2023-03-012024-02-2901675196ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2901675196ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2901675196ns10:FullAccounts2023-03-012024-02-2901675196ns10:Director22023-03-012024-02-2901675196ns10:RegisteredOffice2023-03-012024-02-2901675196ns5:CurrentFinancialInstruments2024-02-2901675196ns5:CurrentFinancialInstruments2023-02-2801675196ns5:Non-currentFinancialInstruments2024-02-2901675196ns5:Non-currentFinancialInstruments2023-02-2801675196ns5:ShareCapital2024-02-2901675196ns5:ShareCapital2023-02-2801675196ns5:RetainedEarningsAccumulatedLosses2024-02-2901675196ns5:RetainedEarningsAccumulatedLosses2023-02-2801675196ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2901675196ns5:PlantMachinery2023-03-012024-02-2901675196ns5:MotorVehicles2023-03-012024-02-2901675196ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2801675196ns5:PlantMachinery2023-02-2801675196ns5:MotorVehicles2023-02-2801675196ns5:ShortLeaseholdAssetsns5:LandBuildings2024-02-2901675196ns5:PlantMachinery2024-02-2901675196ns5:MotorVehicles2024-02-2901675196ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2801675196ns5:PlantMachinery2023-02-2801675196ns5:MotorVehicles2023-02-2801675196ns5:CostValuation2023-02-2801675196ns5:CostValuation2024-02-2901675196ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2901675196ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-28
REGISTERED NUMBER: 01675196 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Shipley Structures Limited

Shipley Structures Limited (Registered number: 01675196)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Shipley Structures Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs W Y J Coney
M R Weston





REGISTERED OFFICE: Maddocks Park
Ancaster
Grantham
Lincolnshire
NG32 3PL





REGISTERED NUMBER: 01675196 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Shipley Structures Limited (Registered number: 01675196)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 565,799 660,283
Investments 5 658,974 566,142
1,224,773 1,226,425

CURRENT ASSETS
Stocks 6,844 1,503,757
Debtors 6 2,722,434 1,405,122
Cash at bank and in hand 1,002,054 921,336
3,731,332 3,830,215
CREDITORS
Amounts falling due within one year 7 1,320,283 1,270,999
NET CURRENT ASSETS 2,411,049 2,559,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,635,822

3,785,641

CREDITORS
Amounts falling due after more than one
year

8

(735,000

)

(965,000

)

PROVISIONS FOR LIABILITIES (198,184 ) (118,030 )
NET ASSETS 2,702,638 2,702,611

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,702,538 2,702,511
SHAREHOLDERS' FUNDS 2,702,638 2,702,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Shipley Structures Limited (Registered number: 01675196)

Balance Sheet - continued
29 February 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 6 September 2024 and were signed on its behalf by:





Mrs W Y J Coney - Director


Shipley Structures Limited (Registered number: 01675196)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Shipley Structures 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.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not received. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 25% on cost
Motor vehicles - at varying rates on cost

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

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.

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

Shipley Structures Limited (Registered number: 01675196)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Long term contracts
Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated based on approved applications for the period. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are foreseen.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2023 157,601 1,511,496 93,041 1,762,138
Disposals (62,601 ) (250,819 ) - (313,420 )
At 29 February 2024 95,000 1,260,677 93,041 1,448,718
DEPRECIATION
At 1 March 2023 70,914 952,532 78,409 1,101,855
Charge for year 6,994 82,286 5,204 94,484
Eliminated on disposal (62,601 ) (250,819 ) - (313,420 )
At 29 February 2024 15,307 783,999 83,613 882,919
NET BOOK VALUE
At 29 February 2024 79,693 476,678 9,428 565,799
At 28 February 2023 86,687 558,964 14,632 660,283

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023 566,142
Share of profit/(loss) 92,832
At 29 February 2024 658,974
NET BOOK VALUE
At 29 February 2024 658,974
At 28 February 2023 566,142

Shipley Structures Limited (Registered number: 01675196)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,549,953 348
Other debtors 1,172,481 1,404,774
2,722,434 1,405,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 180,000 180,000
Hire purchase contracts 50,000 50,000
Trade creditors 949,583 958,361
Taxation and social security 51,180 28,011
Other creditors 89,520 54,627
1,320,283 1,270,999

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 435,000 615,000
Hire purchase contracts 300,000 350,000
735,000 965,000

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Shipley Structures Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shipley Structures Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Shipley Structures Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shipley Structures Limited and state those matters that we have agreed to state to the Board of Directors of Shipley Structures Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Shipley Structures Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shipley Structures Limited. You consider that Shipley Structures Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shipley Structures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


6 September 2024