Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3132023-04-01falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07213645 2023-04-01 2024-03-31 07213645 2022-04-01 2023-03-31 07213645 2024-03-31 07213645 2023-03-31 07213645 c:Director1 2023-04-01 2024-03-31 07213645 d:PlantMachinery 2023-04-01 2024-03-31 07213645 d:FurnitureFittings 2024-03-31 07213645 d:FurnitureFittings 2023-03-31 07213645 d:OfficeEquipment 2024-03-31 07213645 d:OfficeEquipment 2023-03-31 07213645 d:CurrentFinancialInstruments 2024-03-31 07213645 d:CurrentFinancialInstruments 2023-03-31 07213645 d:Non-currentFinancialInstruments 2024-03-31 07213645 d:Non-currentFinancialInstruments 2023-03-31 07213645 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07213645 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07213645 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07213645 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07213645 d:ShareCapital 2024-03-31 07213645 d:ShareCapital 2023-03-31 07213645 d:RetainedEarningsAccumulatedLosses 2024-03-31 07213645 d:RetainedEarningsAccumulatedLosses 2023-03-31 07213645 c:FRS102 2023-04-01 2024-03-31 07213645 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07213645 c:FullAccounts 2023-04-01 2024-03-31 07213645 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07213645 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 07213645







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


SHORTY'S (OFF LICENCE) LIMITED






































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SHORTY'S (OFF LICENCE) LIMITED
REGISTERED NUMBER:07213645



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
13,570
12,758

Debtors: amounts falling due within one year
 5 
83,634
75,252

Cash at bank and in hand
  
10,424
6,298

  
107,628
94,308

Creditors: amounts falling due within one year
 6 
(80,825)
(67,598)

Net current assets
  
 
 
26,803
 
 
26,710

Total assets less current liabilities
  
26,803
26,710

Creditors: amounts falling due after more than one year
  
(26,667)
(26,667)

  

Net assets
  
136
43


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
135
42

  
136
43


Page 1

 


SHORTY'S (OFF LICENCE) LIMITED
REGISTERED NUMBER:07213645


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S J Shortland
Director

Date: 13 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


SHORTY'S (OFF LICENCE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Shorty's (Off Licence) Limited 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 


SHORTY'S (OFF LICENCE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

Page 4

 


SHORTY'S (OFF LICENCE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
4,038
4,158
8,196



At 31 March 2024

4,038
4,158
8,196



Depreciation


At 1 April 2023
4,038
4,158
8,196



At 31 March 2024

4,038
4,158
8,196



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
-
-
-


5.


Debtors

2024
2023
£
£


Other debtors
55,752
56,695

Prepayments and accrued income
6,231
131

Tax recoverable
21,651
18,426

83,634
75,252


Page 5

 


SHORTY'S (OFF LICENCE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
4,981
4,773

Bank loans
10,000
10,000

Trade creditors
15,083
10,141

Corporation tax
19,047
13,418

Other taxation and social security
14,120
11,231

Other creditors
15,433
15,487

Accruals and deferred income
2,161
2,548

80,825
67,598



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
26,667
26,667

26,667
26,667


 
Page 6