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Registered number: 05645779
Shropshire County Trainers Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05645779
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,289 22,695
18,289 22,695
CURRENT ASSETS
Debtors 5 64,879 89,952
Cash at bank and in hand 75,915 92,211
140,794 182,163
Creditors: Amounts Falling Due Within One Year 6 (56,239 ) (84,379 )
NET CURRENT ASSETS (LIABILITIES) 84,555 97,784
TOTAL ASSETS LESS CURRENT LIABILITIES 102,844 120,479
Creditors: Amounts Falling Due After More Than One Year 7 (2,000 ) (12,637 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,475 ) (4,312 )
NET ASSETS 97,369 103,530
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 97,367 103,528
SHAREHOLDERS' FUNDS 97,369 103,530
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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 J Flowers
Director
22 October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Shropshire County Trainers Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 05645779 . The registered office is Unit 6B, Orchard Business Park, Hortonwood 40, Telford, TF1 7EY.
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. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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:
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.5. 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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2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 8)
7 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 45,558 8,998 3,701 5,626 63,883
Additions 3,950 - - 523 4,473
As at 31 March 2024 49,508 8,998 3,701 6,149 68,356
...CONTINUED
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Depreciation
As at 1 April 2023 27,331 5,202 3,701 4,954 41,188
Provided during the period 7,377 949 - 553 8,879
As at 31 March 2024 34,708 6,151 3,701 5,507 50,067
Net Book Value
As at 31 March 2024 14,800 2,847 - 642 18,289
As at 1 April 2023 18,227 3,796 - 672 22,695
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 53,815 80,214
Prepayments and accrued income 1,075 1,491
Other debtors 9,989 8,247
64,879 89,952
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,605 8,033
Trade creditors 3,007 2,919
Bank loans and overdrafts 8,000 8,000
Corporation tax 1,034 6,589
Other taxes and social security 2,132 2,950
VAT 5,501 29,707
Other creditors - 2,370
Pension creditor 124 467
Accruals and deferred income 1,664 1,561
Directors' loan accounts 26,172 21,783
56,239 84,379
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,637
Bank loans 2,000 6,000
2,000 12,637
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,605 8,033
Later than one year and not later than five years - 6,637
8,605 14,670
8,605 14,670
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 4,312 4,312
Utilised (837 ) (837)
Balance at 31 March 2024 3,475 3,475
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
11. Related Party Transactions
At the balance sheet date there was an oustanding loan due from Shropshire County Training Limited of £3,279 (2023: £1,538), a company under common control.
This loan is interest free and repayable upon demand.
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr B Tillotson and Mr J Flowers by virtue of their ownership of 100% of the issued share capital in the company.
13. Charges
There are fixed and floating charges registered against the assets of the company.
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