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Company No: 04212160 (England and Wales)

SHIRE MOBILITY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

SHIRE MOBILITY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

SHIRE MOBILITY LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
SHIRE MOBILITY LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DIRECTOR Philip Anthony Purdie
REGISTERED OFFICE Eagle House
28 Billing Road
Northampton
NN1 5AJ
United Kingdom
COMPANY NUMBER 04212160 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ
BANKERS National Westminster Bank Plc
41 The Drapery
Northampton
NN1 2EY
SHIRE MOBILITY LIMITED

BALANCE SHEET

AS AT 31 MAY 2024
SHIRE MOBILITY LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 36,757 39,325
36,757 39,325
Current assets
Stocks 79,400 74,000
Debtors 5 56,623 62,142
Cash at bank and in hand 241,833 412,927
377,856 549,069
Creditors: amounts falling due within one year 6 ( 279,335) ( 236,176)
Net current assets 98,521 312,893
Total assets less current liabilities 135,278 352,218
Creditors: amounts falling due after more than one year 7 ( 10,809) ( 20,731)
Provision for liabilities ( 8,600) ( 13,431)
Net assets 115,869 318,056
Capital and reserves
Called-up share capital 8 2 2
Capital redemption reserve 1 1
Profit and loss account 115,866 318,053
Total shareholders' funds 115,869 318,056

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Shire Mobility Limited (registered number: 04212160) were approved and authorised for issue by the Director on 14 February 2025. They were signed on its behalf by:

Philip Anthony Purdie
Director
SHIRE MOBILITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
SHIRE MOBILITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shire Mobility Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Eagle House, 28 Billing Road, Northampton, NN1 5AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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 the profit and loss in the period to which they relate.

Employee Ownership Trust

The company established the Shire Mobility EOT Trustees Ltd with the objective of ensuring that the shares are held by the Trustees for the benefit of the company's employees and for those employees to have an interest in the company's business, a voice in its operations and a share in its profits.

The distributions made by the company to the Trust enable the Trust to meet its obligations and are treated as payments directly through the Statement of Changes in Equity.

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 19 12

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 June 2023 1,460 100,449 6,861 5,233 114,003
Additions 0 7,985 0 482 8,467
At 31 May 2024 1,460 108,434 6,861 5,715 122,470
Accumulated depreciation
At 01 June 2023 825 67,155 3,008 3,690 74,678
Charge for the financial year 159 9,488 963 425 11,035
At 31 May 2024 984 76,643 3,971 4,115 85,713
Net book value
At 31 May 2024 476 31,791 2,890 1,600 36,757
At 31 May 2023 635 33,294 3,853 1,543 39,325

5. Debtors

2024 2023
£ £
Trade debtors 19,245 26,699
Prepayments 12,675 10,214
VAT recoverable 14,703 15,229
Other debtors 10,000 10,000
56,623 62,142

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,648 10,648
Trade creditors 144,200 104,598
Amounts owed to director 21,421 32,293
Accruals 21,753 23,184
Corporation tax 43,142 39,646
Other taxation and social security 4,659 4,295
Other creditors 33,512 21,512
279,335 236,176

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,809 20,731

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 40,000 55,065
between one and five years 120,000 120,000
after five years 33,333 73,333
193,333 248,398

10. Related party transactions

Distributions totalling £335,500 (2023:£216,200) were paid in the year to the company's controlling party, Shire Mobility EOT Trustees Ltd.