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COMPANY REGISTRATION NUMBER: 14948012
Shillings Capital Ltd
Filleted Unaudited Financial Statements
Period from 20 June 2023 to
30 June 2024
Shillings Capital Ltd
Financial Statements
Period from 20 June 2023 to 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Shillings Capital Ltd
Statement of Financial Position
30 June 2024
30 Jun 24
Note
£
£
Fixed assets
Tangible assets
5
143,238
Current assets
Cash at bank and in hand
1,605
Creditors: amounts falling due within one year
6
15,601
--------
Net current liabilities
13,996
----------
Total assets less current liabilities
129,242
Creditors: amounts falling due after more than one year
7
133,164
----------
Net liabilities
( 3,922)
----------
Capital and reserves
Called up share capital
100
Profit and loss account
( 4,022)
-------
Shareholders deficit
( 3,922)
-------
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 comprehensive income has not been delivered.
For the period ending 30 June 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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Shillings Capital Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
Mr M Shillings
Director
Company registration number: 14948012
Shillings Capital Ltd
Notes to the Financial Statements
Period from 20 June 2023 to 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Gowdall Way, Howden, Goole, East Yorkshire, DN14 7JE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 director has considered the effect of these matters on the company with the information available to it and does not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the director has prepared these financial statements on a going concern basis. The financial statements show a loss for the period of £4,022. The Company has net liabilities at the Balance Sheet date of £3,922. The director has confirmed that he is willing to support the company for the foreseeable future. Therefore the going concern basis is applicable.
Revenue recognition
Turnover compromises revenue recognised by the company in respect of property management and rental income receivable.
Revenue from rents receivable is recognised in accordance with the terms of the relevant lease agreement.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investment properties
Investment properties are initially recorded at cost, which included purchase price and any directly attributable expenditure.
Investment properties are revalued at their fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual agreement 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.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Freehold property
£
Cost
At 20 June 2023
Additions
143,238
----------
At 30 June 2024
143,238
----------
Depreciation
At 20 June 2023 and 30 June 2024
----------
Carrying amount
At 30 June 2024
143,238
----------
6. Creditors: amounts falling due within one year
30 Jun 24
£
Trade creditors
601
Other creditors
15,000
--------
15,601
--------
7. Creditors: amounts falling due after more than one year
30 Jun 24
£
Bank loans and overdrafts
97,850
Other creditors
35,314
----------
133,164
----------
8. Related party transactions
The director had a loan account with the company during the period. The balance owing to the director on 30 June 2024 was £ 50,314 (shown as due within one year £15,000 and after one year £35,314).