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REGISTERED NUMBER: 01512874 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DAVID SHORES & CO LIMITED

DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)






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


DAVID SHORES & CO LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mrs J L Humphries ATT
T L Smith CA
Mrs V Merifield ACA





SECRETARY: Mrs J L Humphries ATT





REGISTERED OFFICE: 36a Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 01512874 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,753 6,144

CURRENT ASSETS
Stocks 72,403 84,680
Debtors 5 216,372 237,668
Cash at bank and in hand 19,082 2,359
307,857 324,707
CREDITORS
Amounts falling due within one year 6 201,724 182,575
NET CURRENT ASSETS 106,133 142,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,886

148,276

CREDITORS
Amounts falling due after more than one
year

7

(8,500

)

(14,500

)

PROVISIONS FOR LIABILITIES (617 ) (456 )
NET ASSETS 101,769 133,320

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 91,769 123,320
SHAREHOLDERS' FUNDS 101,769 133,320

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.

DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





T L Smith CA - Director


DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

David Shores & Co 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.

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 - in accordance with the property
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits
The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)

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 instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortized 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 recognized in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortized cost, being the transaction price less any amounts settled.

Employment benefits
The costs of short-term employee benefits are recognized as a liability and an expense, unless those costs are required to be recognized as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognized in the period in which the employee's services are received

Termination benefits are recognized immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognized when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 7,466 36,091 22,048 28,822 94,427
DEPRECIATION
At 1 January 2023 7,466 32,865 19,841 28,111 88,283
Charge for year - 484 552 355 1,391
At 31 December 2023 7,466 33,349 20,393 28,466 89,674
NET BOOK VALUE
At 31 December 2023 - 2,742 1,655 356 4,753
At 31 December 2022 - 3,226 2,207 711 6,144

DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 196,777 196,266
Specific Bad Debt Reserve (6,112 ) (10,483 )
Disbursements 285 285
Companies House account 517 260
Prepayments 24,905 51,340
216,372 237,668

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 18,620
Trade creditors 33,024 59,065
Tax 5,160 6,725
Social security and other taxes 4,771 4,595
VAT 43,403 34,688
Other creditors 782 2,749
Client Control Account - 709
Net Wages Control 72 97
Inter Company account - TLS&Co 32,580 19,330
Pension Control 472 450
Humphries and Smith Loan 7,000 3,000
Sundry Creditors 1,996 -
Directors' loan accounts 59,025 28,829
Accruals and deferred income 330 513
Accrued expenses 7,109 3,205
201,724 182,575

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank Loan 2 6,000 6,000
Bank Loan 2,500 8,500
8,500 14,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 16,312 14,300
Between one and five years 16,561 -
32,873 14,300

DAVID SHORES & CO LIMITED (REGISTERED NUMBER: 01512874)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 12,620
Bank loans 14,500 20,500
14,500 33,120

The bank loan and overdraft are secured by a debenture over the company's assets and by personal guarantees from two of the directors amounting to £110.000.