Shoozoo Limited
Unaudited Financial Statements
For the year ended 31 January 2024
Pages for Filing with Registrar
Company Registration No. 04947293 (England and Wales)
Shoozoo Limited
Balance Sheet
As at 31 January 2024
31 January 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,204
1,605
Current assets
Stock
9,000
7,520
Debtors
6
16,366
20,188
Cash at bank and in hand
38,388
28,609
63,754
56,317
Creditors: amounts falling due within one year
7
(16,939)
(18,058)
Net current assets
46,815
38,259
Total assets less current liabilities
48,019
39,864
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
48,018
39,863
Total equity
48,019
39,864
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Shoozoo Limited
Balance Sheet (Continued)
As at 31 January 2024
31 January 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 31 October 2024
Ms Sharon L Palmer
Director
Company Registration No. 04947293
Shoozoo Limited
Notes to the Financial Statements
For the year ended 31 January 2024
Page 3
1
Accounting policies
Company information
Shoozoo Limited is a private company limited by shares incorporated in England and Wales. The registered office is 18 Clifton Hill, Brighton, East Sussex, BN1 3HQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has considered the impact of external factors when making their assessment and whilst the impact cannot be quantified, given the nature of the company's activities the director does not believe that the impact will be significant. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of Value Added Tax.
1.4
Tangible fixed assets
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:
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
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.
1.5
Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell and comprises direct materials.
1.6
Cash and cash equivalents
Cash and cash equivalents include cash in hand and balances held at call with banks.
Shoozoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2024
1
Accounting policies
(Continued)
Page 4
1.7
Financial instruments
The company only had financial instruments classified as basic and measured at amortised cost. The company has no financial instruments classified as 'other' or financial instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.10
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.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to expenditure on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Shoozoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2024
Page 5
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).
2024
2023
Number
Number
Total
2
2
4
Dividends
2024
2023
£
£
Interim paid
2,500
6,599
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 and 31 January 2024
14,764
Depreciation and impairment
At 1 February 2023
13,159
Depreciation charged in the year
401
At 31 January 2024
13,560
Carrying amount
At 31 January 2024
1,204
At 31 January 2023
1,605
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
14,241
12,910
Prepayments and accrued income
2,125
7,278
16,366
20,188
Shoozoo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2024
Page 6
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,567
11,590
Corporation tax
2,594
2,263
Other creditors
8,548
205
Accruals and deferred income
4,230
4,000
16,939
18,058
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Share of £1 each
1
1
1
1
9
Related party transactions
Included within Other Creditors at the year end is £545 (2023: nil due to) due from the director.