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REGISTERED NUMBER: 07093810 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SHINEROCKS LTD

SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SHINEROCKS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr P S Shinerock
Mrs J E Shinerock





SECRETARY: Mrs J E Shinerock





REGISTERED OFFICE: 4 Russell Parade
Russell Hill Road
Purley
Surrey
CR8 2LE





REGISTERED NUMBER: 07093810 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Chartered Accountants & Tax Advisers
Unit 2.02 High Weald House
Glovers End, Bexhill,
East Sussex,
United Kingdom
TN39 5ES

SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 225,000 270,000
Tangible assets 5 5,725 7,634
230,725 277,634

CURRENT ASSETS
Debtors 6 16,097 8,443
Cash at bank and in hand 433,405 420,164
449,502 428,607
CREDITORS
Amounts falling due within one year 7 65,314 51,752
NET CURRENT ASSETS 384,188 376,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,913

654,489

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 613,913 653,489
SHAREHOLDERS' FUNDS 614,913 654,489

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.

SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:




Mr P S Shinerock - Director



Mrs J E Shinerock - Director


SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Shinerocks Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 amounts received from the provision of estate agency services and is stated net of value added tax. Turnover is recognised when the company receives the right to commission.

GOODWILL
Goodwill is amortised into profit and loss account over its estimated economic life of 20 years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

FINANCIAL INSTRUMENTS
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that 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 profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

DIVIDENDS
Equity dividends are recognized when they become legally payable. Interim equity dividends are recognized when paid. Final equity dividends are recognized when approved by the shareholders at an annual general meeting. Dividends on shares recognized as liabilities are recognized as expenses and classified within interest payable.

DEBTORS
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

CREDITORS
Short term creditors are measured at the transaction price. Loans from the director shareholders who are natural persons are also measured at transaction price irrespective of duration. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 900,000
Amortisation
At 1 January 2023 630,000
Charge for year 45,000
At 31 December 2023 675,000
Net book value
At 31 December 2023 225,000
At 31 December 2022 270,000

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 January 2023
and 31 December 2023 28,774
Depreciation
At 1 January 2023 21,140
Charge for year 1,909
At 31 December 2023 23,049
Net book value
At 31 December 2023 5,725
At 31 December 2022 7,634

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,232 -
Other debtors 4,865 8,443
16,097 8,443

SHINEROCKS LTD (REGISTERED NUMBER: 07093810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,593 13,935
Taxation and social security 38,459 17,256
Other creditors 21,262 20,561
65,314 51,752

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 January 2023 653,489
Profit for the year 40,424
Dividends (80,000 )
At 31 December 2023 613,913

10. ULTIMATE CONTROLLING PARTY

Mr P S Shinerock and Mrs J E Shinerock are the ultimate controlling party by virtue of 100% shareholding of
Shinerocks Limited.