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Registered number: 10536890
Shuttercraft Winchester Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Naylor Accountancy Services Limited
25 Hursley Road
Chandler's Ford
Eastleigh
Hampshire
SO53 2FS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10536890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 13,666 9,107
13,666 9,107
CURRENT ASSETS
Debtors 6 59,386 49,412
Cash at bank and in hand 75,273 128,843
134,659 178,255
Creditors: Amounts Falling Due Within One Year 7 (79,612 ) (113,206 )
NET CURRENT ASSETS (LIABILITIES) 55,047 65,049
TOTAL ASSETS LESS CURRENT LIABILITIES 68,713 74,156
Creditors: Amounts Falling Due After More Than One Year 8 (35,436 ) (35,478 )
NET ASSETS 33,277 38,678
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 33,177 38,578
SHAREHOLDERS' FUNDS 33,277 38,678
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
N Phillips-Luke
Director
23rd September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shuttercraft Winchester Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10536890 . The registered office is 9 Hacks Lane, Crawley, Winchester, SO21 2PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared  in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirments of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of  VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortization is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Franchise cost                                     4 years
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation net of depreciation and  any impairment losses. 
Depreciation is recognised so as to write off the cost or valuation of assets less their  residual values over their useful lives on the following bases:
Plant & Machinery 25% Straight line
Motor Vehicles 25 % Reducing balance
Computer Equipment 25% Straight line
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.
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.
...CONTINUED
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2.5. Taxation - continued
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.
2.6. Cash and cash equivalents
Cash and cash equivalents are basic finacial assets and include cash in hand, deposits held at call with banks, other short-term liqid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.7. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 26,000
As at 31 March 2024 26,000
Amortisation
As at 1 April 2023 26,000
As at 31 March 2024 26,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 7,669 22,545 5,300 35,514
Additions 7,292 - 1,180 8,472
As at 31 March 2024 14,961 22,545 6,480 43,986
Depreciation
As at 1 April 2023 4,593 18,737 3,077 26,407
Provided during the period 1,787 952 1,174 3,913
As at 31 March 2024 6,380 19,689 4,251 30,320
Net Book Value
As at 31 March 2024 8,581 2,856 2,229 13,666
As at 1 April 2023 3,076 3,808 2,223 9,107
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,948 49,412
Other debtors 29,438 -
59,386 49,412
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,853 4,230
Bank loans and overdrafts - 5,210
Other creditors 58,396 89,536
Taxation and social security 14,363 14,230
79,612 113,206
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,436 35,478
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Nigel Phillips-Luke (2,525 ) 72,065 (40,100 ) - 29,439
Dividends totalling £31,000 (2023-£25,000) were paid in the year in respect of shared held by the company's directors.
11. Ultimate Controlling Party
The company's ultimate controlling party is the director N Philips - Luke by virtue of his shareholdings.
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