4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-06 Sage Accounts Production Advanced 2024 - FRS102_2024 7,870 7,870 7,870 316,625 200,695 17,389 218,084 98,541 115,930 xbrli:pure xbrli:shares iso4217:GBP 00436637 2023-04-06 2024-04-05 00436637 2024-04-05 00436637 2023-04-05 00436637 2022-04-06 2023-04-05 00436637 2023-04-05 00436637 2022-04-05 00436637 core:PlantMachinery 2023-04-06 2024-04-05 00436637 bus:Director3 2023-04-06 2024-04-05 00436637 bus:Director1 2023-04-06 2024-04-05 00436637 bus:Director2 2023-04-06 2024-04-05 00436637 core:PlantMachinery 2023-04-05 00436637 core:PlantMachinery 2024-04-05 00436637 core:WithinOneYear 2024-04-05 00436637 core:WithinOneYear 2023-04-05 00436637 core:ShareCapital 2024-04-05 00436637 core:ShareCapital 2023-04-05 00436637 core:RetainedEarningsAccumulatedLosses 2024-04-05 00436637 core:RetainedEarningsAccumulatedLosses 2023-04-05 00436637 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-05 00436637 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-05 00436637 core:PlantMachinery 2023-04-05 00436637 bus:Director1 2023-04-05 00436637 bus:Director1 2024-04-05 00436637 bus:Director2 2023-04-05 00436637 bus:Director2 2024-04-05 00436637 bus:Director3 2023-04-05 00436637 bus:Director3 2024-04-05 00436637 bus:Director1 2022-04-05 00436637 bus:Director1 2023-04-05 00436637 bus:Director2 2022-04-05 00436637 bus:Director2 2023-04-05 00436637 bus:Director3 2022-04-05 00436637 bus:Director3 2023-04-05 00436637 bus:Director1 2022-04-06 2023-04-05 00436637 bus:Director2 2022-04-06 2023-04-05 00436637 bus:Director3 2022-04-06 2023-04-05 00436637 bus:SmallEntities 2023-04-06 2024-04-05 00436637 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 00436637 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 00436637 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00436637 bus:FullAccounts 2023-04-06 2024-04-05
COMPANY REGISTRATION NUMBER: 00436637
F W Shaw & Son Ltd
Filleted Unaudited Financial Statements
For the year ended
5 April 2024
F W Shaw & Son Ltd
Financial Statements
Year ended 5 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
F W Shaw & Son Ltd
Statement of Financial Position
5 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
7,870
7,870
Tangible assets
6
98,541
115,930
----------
----------
106,411
123,800
Current assets
Stocks
41,595
115,661
Debtors
7
276,723
162,268
Investments
8
1
1
Cash at bank and in hand
95,166
108,591
----------
----------
413,485
386,521
Creditors: amounts falling due within one year
9
50,080
86,639
----------
----------
Net current assets
363,405
299,882
----------
----------
Total assets less current liabilities
469,816
423,682
----------
----------
Capital and reserves
Called up share capital
960
960
Profit and loss account
468,856
422,722
----------
----------
Shareholders funds
469,816
423,682
----------
----------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
F W Shaw & Son Ltd
Statement of Financial Position (continued)
5 April 2024
These financial statements were approved by the board of directors and authorised for issue on 3 January 2025 , and are signed on behalf of the board by:
Mr J M Falkingham
Director
Company registration number: 00436637
F W Shaw & Son Ltd
Notes to the Financial Statements
Year ended 5 April 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is West End Farm, Yokefleet, Goole, East Yorkshire, DN14 7XY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods. (d) Current & deferred 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 be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. (e) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) 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:
Plant and machinery
-
15% reducing balance
(h) 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.
(i) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(j) Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
(k) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Intangible assets
Entitlements
£
Cost
At 6 April 2023 and 5 April 2024
7,870
-------
Amortisation
At 6 April 2023 and 5 April 2024
-------
Carrying amount
At 5 April 2024
7,870
-------
At 5 April 2023
7,870
-------
6. Tangible assets
Plant and machinery
Total
£
£
Cost
At 6 April 2023 and 5 April 2024
316,625
316,625
----------
----------
Depreciation
At 6 April 2023
200,695
200,695
Charge for the year
17,389
17,389
----------
----------
At 5 April 2024
218,084
218,084
----------
----------
Carrying amount
At 5 April 2024
98,541
98,541
----------
----------
At 5 April 2023
115,930
115,930
----------
----------
7. Debtors
2024
2023
£
£
Trade debtors
42,895
110,018
Directors loan account
233,828
52,250
----------
----------
276,723
162,268
----------
----------
8. Investments
2024
2023
£
£
The Green Pea Company
1
1
----
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
32,685
55,625
Corporation tax
17,395
31,014
--------
--------
50,080
86,639
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mrs A Ross
( 1,827)
( 21)
( 1,848)
Mrs G M Falkingham
30,395
162,986
( 72,104)
121,277
Mr J M Falkingham
23,682
162,842
( 72,125)
114,399
--------
----------
----------
----------
52,250
325,828
( 144,250)
233,828
--------
----------
----------
----------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mrs A Ross
( 1,785)
( 42)
( 1,827)
Mrs G M Falkingham
( 4,970)
65,037
( 29,672)
30,395
Mr J M Falkingham
( 11,637)
65,033
( 29,714)
23,682
--------
----------
--------
--------
( 18,392)
130,070
( 59,428)
52,250
--------
----------
--------
--------
The company has charged interest to the directors on the advances made in 2023/24. The directors have repaid the advances in full within 9 months of the accounting year end date.