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COMPANY REGISTRATION NUMBER: 06825054
SHAKETASTIC LTD
Unaudited Financial Statements
31 March 2024
SHAKETASTIC LTD
Financial Statements
Year ended 31 March 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
SHAKETASTIC LTD
Director's Report
Year ended 31 March 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2024 .
Director
The director who served the company during the year was as follows:
J S Kettle
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 September 2024 and signed on behalf of the board by:
J S Kettle
Director
Registered office:
c/o The Accounting Centre Ltd
First Floor 736 High Road
North Finchley
London
N12 9QD
SHAKETASTIC LTD
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Turnover
918,646
887,434
Cost of sales
532,440
488,856
---------
---------
Gross profit
386,206
398,578
Distribution costs
93,850
83,221
Administrative expenses
300,354
339,374
Other operating income
9,000
---------
---------
Operating profit/(loss)
1,002
( 24,017)
Other interest receivable and similar income
217
Interest payable and similar expenses
5,999
6,527
---------
---------
Loss before taxation
6
( 4,780)
( 30,544)
Tax on loss
( 6,149)
-------
--------
Loss for the financial year and total comprehensive income
( 4,780)
( 24,395)
-------
--------
Retained (losses)/earnings at the start of the year
( 11,715)
12,680
--------
--------
Retained losses at the end of the year
( 16,495)
( 11,715)
--------
--------
All the activities of the company are from continuing operations.
SHAKETASTIC LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
7
62,103
71,773
Current assets
Debtors
8
19,478
26,215
Cash at bank and in hand
17,913
40,810
--------
--------
37,391
67,025
Creditors: amounts falling due within one year
9
114,449
111,715
---------
---------
Net current liabilities
77,058
44,690
--------
--------
Total assets less current liabilities
( 14,955)
27,083
Creditors: amounts falling due after more than one year
10
1,536
38,794
--------
--------
Net liabilities
( 16,491)
( 11,711)
--------
--------
Capital and reserves
Called up share capital
4
4
Profit and loss account
11
( 16,495)
( 11,715)
--------
--------
Shareholders deficit
( 16,491)
( 11,711)
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SHAKETASTIC LTD
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
J S Kettle
Director
Company registration number: 06825054
SHAKETASTIC LTD
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o The Accounting Centre Ltd, First Floor 736 High Road, North Finchley, London, N12 9QD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
Over 5 Years
Plant and machinery
-
Over 4 - 10 Years
Fixtures and fittings
-
Over 4 years
Motor vehicles
-
Over 4 Years
Equipment
-
Over 3 Years
Fixtures & Fittings - 25% Straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2023: 34 ).
5. Director's remuneration
The director's aggregate remuneration in respect of qualifying services was:
2024
2023
£
£
Remuneration
32,795
33,696
--------
--------
6. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
21,715
20,130
--------
--------
7. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
56,438
175,515
8,811
3,900
26,513
271,177
Additions
10,000
2,045
12,045
--------
---------
--------
-------
--------
---------
At 31 Mar 2024
56,438
185,515
10,856
3,900
26,513
283,222
--------
---------
--------
-------
--------
---------
Depreciation
At 1 Apr 2023
56,438
121,288
3,029
3,900
14,749
199,404
Charge for the year
13,177
2,017
6,521
21,715
--------
---------
--------
-------
--------
---------
At 31 Mar 2024
56,438
134,465
5,046
3,900
21,270
221,119
--------
---------
--------
-------
--------
---------
Carrying amount
At 31 Mar 2024
51,050
5,810
5,243
62,103
--------
---------
--------
-------
--------
---------
At 31 Mar 2023
54,227
5,782
11,764
71,773
--------
---------
--------
-------
--------
---------
8. Debtors
2024
2023
£
£
Amounts owed by group undertakings
9,209
8,315
Prepayments and accrued income
3,598
Director's loan account
1,930
Other debtors
10,269
12,372
--------
--------
19,478
26,215
--------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
43,512
43,511
Trade creditors
6,815
27,853
Amounts owed to group undertakings and undertakings in which the company has a participating interest
32,591
9,450
Social security and other taxes
5,691
5,987
Other creditors
25,840
24,914
---------
---------
114,449
111,715
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,536
38,794
-------
--------
11. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
12. Director's advances, credits and guarantees
The company owed to the director £180 at the reporting date.
13. Controlling party
The immediate and ultimate parent is Shaketastic Holdings Limited, a company registered in England.