REGISTERED NUMBER: |
SHIRE TEXTILES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
REGISTERED NUMBER: |
SHIRE TEXTILES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
SHIRE TEXTILES LIMITED (REGISTERED NUMBER: 03972628) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SHIRE TEXTILES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Cash's Business Centre |
1st Floor |
228 Widdrington Road |
Coventry |
West Midlands |
CV1 4PB |
SHIRE TEXTILES LIMITED (REGISTERED NUMBER: 03972628) |
BALANCE SHEET |
31 MAY 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SHIRE TEXTILES LIMITED (REGISTERED NUMBER: 03972628) |
BALANCE SHEET - continued |
31 MAY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
SHIRE TEXTILES LIMITED (REGISTERED NUMBER: 03972628) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Shire Textiles Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 June 2023 |
Revaluations |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Cost or valuation at 31 May 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2023 | (70,656 | ) |
Valuation in 2024 | 132,086 |
Cost | 1,500,000 |
1,561,430 |
SHIRE TEXTILES LIMITED (REGISTERED NUMBER: 03972628) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
Fixed asset investments represents listed investments whose fair value is determined by reference to quoted price for identical assets in an active market at the balance sheet date. Fixed asset investments were valued on 31 May 2024 by Evelyn Partners Group Limited. |
If fixed asset investments had not been revalued they would have been included at the historical cost of £1,500,000 (2023: £1,500,000). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date £2,668 (2023: £50,668) was owed to Mr S S Jandu and £0 (2023: £1,000) owed to Mr J S Jandu, the directors. The amounts are unsecured and interest free with no set terms for repayment. |
8. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £219,000 (2023 - £380,000) were paid to the directors . |
During the year the company entered into various transactions in the ordinary course of business with Jandu Developments Limited T/A J S Marketing, a company in which there are common directors who also have an interest: |
i. The company was charged £40,000 (2023: £40,000) in respect of management and administrative services; and |
ii. The company was charged £15,000 (2023: £15,000) in respect of storage charges; |
At the balance sheet date the company owed £223,113 (2023: £221,402) to Jandu Developments Ltd. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr S S Jandu. |