Company Registration No. 14295983 (England and Wales)
Shft Group Ltd
Unaudited accounts
for the year ended 31 March 2024
Shft Group Ltd
Unaudited accounts
Contents
Shft Group Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
60,595
47,403
Cash at bank and in hand
247,658
150,332
Creditors: amounts falling due within one year
(50,930)
(154,673)
Net current assets
252,250
133,129
Net assets
312,845
180,532
Called up share capital
8
8
Share premium
147,852
147,852
Profit and loss account
164,985
32,672
Shareholders' funds
312,845
180,532
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2024 and were signed on its behalf by
Thomas Dixon
Director
Company Registration No. 14295983
Shft Group Ltd
Notes to the Accounts
for the year ended 31 March 2024
Shft Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 14295983. The registered office is Runway East, 66 Old Compton Street, London, London, W1D 4UH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 11 August 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
4
Shft Group Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
32,659
18,845
51,504
Additions
15,692
20,590
36,282
At 31 March 2024
48,351
39,435
87,786
At 1 April 2023
3,009
1,092
4,101
Charge for the year
11,789
11,301
23,090
At 31 March 2024
14,798
12,393
27,191
At 31 March 2024
33,553
27,042
60,595
At 31 March 2023
29,650
17,753
47,403
Amounts falling due within one year
Trade debtors
27,650
105,813
Accrued income and prepayments
5,001
15,652
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
8,031
30,195
Taxes and social security
42,034
6,743
Other creditors
865
115,766
7
Average number of employees
During the year the average number of employees was 4 (2023: 3).