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REGISTERED NUMBER: 04958466 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

M J Shapcott & Co Ltd

M J Shapcott & Co Ltd (Registered number: 04958466)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


M J Shapcott & Co Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M J Shapcott FCA
Mrs K F Shapcott FCA





SECRETARY: Mrs J D Shapcott FMAAT





REGISTERED OFFICE: Charter House
Wyvern Court, Stanier Way
Wyvern Business Park
Derby
DE21 6BF





REGISTERED NUMBER: 04958466 (England and Wales)

M J Shapcott & Co Ltd (Registered number: 04958466)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 16,754
Tangible assets 5 39,632 46,698
39,632 63,452

CURRENT ASSETS
Stocks 167,671 168,235
Debtors 6 25,800 37,085
Prepayments and accrued income 35,555 34,078
Cash at bank and in hand 136,357 102,823
365,383 342,221
CREDITORS
Amounts falling due within one year 7 210,474 249,491
NET CURRENT ASSETS 154,909 92,730
TOTAL ASSETS LESS CURRENT LIABILITIES 194,541 156,182

CREDITORS
Amounts falling due after more than one year 8 (15,131 ) (26,458 )

PROVISIONS FOR LIABILITIES (9,908 ) (12,154 )
NET ASSETS 169,502 117,570

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 169,102 117,170
SHAREHOLDERS' FUNDS 169,502 117,570

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mrs K F Shapcott FCA - Director


M J Shapcott & Co Ltd (Registered number: 04958466)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

M J Shapcott & Co 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 net invoiced sales of services derived from ordinary activities, excluding value added tax, adjusted for work in progress at sales value.

Practice acquisition
Practice Acquisition, being the amount paid in connection with the acquisition of the business in 2003, is being amortised evenly over its estimated useful life of 20 years.

Website
The Website is being amortised over 5 years being its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 20% on cost and 20% on reducing balance
Fixtures and fittings - 10% on cost and 10% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in Progress is valued at sales value less irrecoverable amounts.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 20 (2023 - 17 ) .

M J Shapcott & Co Ltd (Registered number: 04958466)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Practice
Acquisition Website Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 433,374 11,473 444,847
AMORTISATION
At 1 May 2023 418,157 9,936 428,093
Amortisation for year 15,217 1,537 16,754
At 30 April 2024 433,374 11,473 444,847
NET BOOK VALUE
At 30 April 2024 - - -
At 30 April 2023 15,217 1,537 16,754

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 3,153 58,743 58,528 120,424
Additions - 137 4,876 5,013
At 30 April 2024 3,153 58,880 63,404 125,437
DEPRECIATION
At 1 May 2023 1,957 42,706 29,063 73,726
Charge for year 119 3,765 8,195 12,079
At 30 April 2024 2,076 46,471 37,258 85,805
NET BOOK VALUE
At 30 April 2024 1,077 12,409 26,146 39,632
At 30 April 2023 1,196 16,037 29,465 46,698

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,605 36,890
Other debtors 195 195
25,800 37,085

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,105 12,237
Trade creditors 24,570 15,519
Taxation and social security 93,057 91,037
Other creditors 80,742 130,698
210,474 249,491

M J Shapcott & Co Ltd (Registered number: 04958466)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 15,131 26,458