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REGISTERED NUMBER: 10553285 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SHOVEL & SPADE LIMITED

SHOVEL & SPADE LIMITED (REGISTERED NUMBER: 10553285)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SHOVEL & SPADE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: M Wells





REGISTERED OFFICE: 6 Buffers Lane
Kingston Square
Leatherhead
KT22 7XP





REGISTERED NUMBER: 10553285 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

SHOVEL & SPADE LIMITED (REGISTERED NUMBER: 10553285)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,380 66,988

CURRENT ASSETS
Debtors 5 103,043 112,873
Cash at bank 72,706 93,122
175,749 205,995
CREDITORS
Amounts falling due within one year 6 122,084 144,884
NET CURRENT ASSETS 53,665 61,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,045

128,099

CREDITORS
Amounts falling due after more than one
year

7

(30,367

)

(19,102

)

PROVISIONS FOR LIABILITIES 9 (19,845 ) (13,186 )
NET ASSETS 82,833 95,811

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 82,832 95,810
SHAREHOLDERS' FUNDS 82,833 95,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2024 and were signed by:



M Wells - Director


SHOVEL & SPADE LIMITED (REGISTERED NUMBER: 10553285)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Shovel & Spade 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 represents net invoiced sales of landscaping services and materials, excluding Value Added Tax.

Turnover is recognised in the period in which the service was provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 20% on cost

Taxation and deferred taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

SHOVEL & SPADE LIMITED (REGISTERED NUMBER: 10553285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 121,917
Additions 39,935
At 31 January 2024 161,852
DEPRECIATION
At 1 February 2023 54,929
Charge for year 27,543
At 31 January 2024 82,472
NET BOOK VALUE
At 31 January 2024 79,380
At 31 January 2023 66,988

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 46,050
Additions 38,444
At 31 January 2024 84,494
DEPRECIATION
At 1 February 2023 16,230
Charge for year 12,329
At 31 January 2024 28,559
NET BOOK VALUE
At 31 January 2024 55,935
At 31 January 2023 29,820

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 3,288 9,325
Other debtors 99,755 103,548
103,043 112,873

SHOVEL & SPADE LIMITED (REGISTERED NUMBER: 10553285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts (see note 8) 12,659 17,749
Trade creditors 27,216 12,563
Taxation and social security 24,877 24,193
Other creditors 51,332 84,379
122,084 144,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 10,513 16,513
Hire purchase contracts (see note 8) 19,854 2,589
30,367 19,102

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 12,659 17,749
Between one and five years 19,854 2,589
32,513 20,338

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 4,132 4,132
Between one and five years 344 4,477
4,476 8,609

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 19,845 13,186

Deferred
tax
£   
Balance at 1 February 2023 13,186
Provided during year 6,659
Balance at 31 January 2024 19,845

SHOVEL & SPADE LIMITED (REGISTERED NUMBER: 10553285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
1 Ordinary £1 1 1

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Director
Balance outstanding at start of year (37,879 ) (42,340 )
Amounts advanced 67,718 57,140
Amounts repaid (50,901 ) (52,679 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (21,062 ) (37,879 )