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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
Page
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Shft Group Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
60,595 
47,403 
Current assets
Debtors
55,522 
137,470 
Cash at bank and in hand
247,658 
150,332 
303,180 
287,802 
Creditors: amounts falling due within one year
(50,930)
(154,673)
Net current assets
252,250 
133,129 
Net assets
312,845 
180,532 
Capital and reserves
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
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Shft Group Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Computer equipment
4
Other tangible fixed assets
4
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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 
Depreciation
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 
Net book value
At 31 March 2024
33,553 
27,042 
60,595 
At 31 March 2023
29,650 
17,753 
47,403 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
10,741 
15,983 
Trade debtors
27,650 
105,813 
Accrued income and prepayments
5,001 
15,652 
Other debtors
12,130 
22 
55,522 
137,470 
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 
Accruals
- 
1,969 
50,930 
154,673 
7
Average number of employees
During the year the average number of employees was 4 (2023: 3).
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