8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 01616484 2023-07-01 2024-06-30 01616484 2024-06-30 01616484 2023-06-30 01616484 2022-07-01 2023-06-30 01616484 2023-06-30 01616484 2022-06-30 01616484 core:PlantMachinery 2023-07-01 2024-06-30 01616484 core:FurnitureFittings 2023-07-01 2024-06-30 01616484 core:MotorVehicles 2023-07-01 2024-06-30 01616484 bus:Director2 2023-07-01 2024-06-30 01616484 bus:Director3 2023-07-01 2024-06-30 01616484 core:LandBuildings 2023-06-30 01616484 core:PlantMachinery 2023-06-30 01616484 core:FurnitureFittings 2023-06-30 01616484 core:MotorVehicles 2023-06-30 01616484 core:LandBuildings 2024-06-30 01616484 core:PlantMachinery 2024-06-30 01616484 core:FurnitureFittings 2024-06-30 01616484 core:MotorVehicles 2024-06-30 01616484 core:WithinOneYear 2024-06-30 01616484 core:WithinOneYear 2023-06-30 01616484 core:ShareCapital 2024-06-30 01616484 core:ShareCapital 2023-06-30 01616484 core:RetainedEarningsAccumulatedLosses 2024-06-30 01616484 core:RetainedEarningsAccumulatedLosses 2023-06-30 01616484 core:LandBuildings 2023-07-01 2024-06-30 01616484 core:LandBuildings 2023-06-30 01616484 core:PlantMachinery 2023-06-30 01616484 core:MotorVehicles 2023-06-30 01616484 bus:Director1 2023-07-01 2024-06-30 01616484 bus:SmallEntities 2023-07-01 2024-06-30 01616484 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01616484 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 01616484 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01616484 bus:FullAccounts 2023-07-01 2024-06-30 01616484 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 01616484
G H SHAW LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2024
G H SHAW LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
27,495
32,685
Current assets
Stocks
114,933
107,421
Debtors
6
149,623
122,582
Cash at bank and in hand
573,055
577,495
----------
----------
837,611
807,498
Creditors: amounts falling due within one year
7
( 222,744)
( 200,387)
----------
----------
Net current assets
614,867
607,111
----------
----------
Total assets less current liabilities
642,362
639,796
Provisions
Taxation including deferred tax
( 665)
( 1,281)
----------
----------
Net assets
641,697
638,515
----------
----------
G H SHAW LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss account
621,697
618,515
----------
----------
Shareholders funds
641,697
638,515
----------
----------
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 income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
D M Shaw
T R Shaw
Director
Director
Company registration number: 01616484
G H SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 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 125/126 High Street, Lincoln, LN5 7PP.
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 and is prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No judgements, estimates or assumptions have been made during the period that would have a significant effect on the amounts recognised in the financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all goods sold during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
2% on cost
Plant and equipment
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after making due allowance for obsolete and slow moving items. Cost is based on purchase price.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
18,695
15,404
14,265
47,140
95,504
---------
---------
---------
---------
---------
Depreciation
At 1 July 2023
4,113
14,643
14,265
29,798
62,819
Charge for the year
374
481
4,335
5,190
---------
---------
---------
---------
---------
At 30 June 2024
4,487
15,124
14,265
34,133
68,009
---------
---------
---------
---------
---------
Carrying amount
At 30 June 2024
14,208
280
13,007
27,495
---------
---------
---------
---------
---------
At 30 June 2023
14,582
761
17,342
32,685
---------
---------
---------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
140,628
112,871
Other debtors
8,995
9,711
----------
----------
149,623
122,582
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
41,602
44,666
Corporation tax
16,602
1,194
Social security and other taxes
18,585
16,273
Other creditors
145,955
138,254
----------
----------
222,744
200,387
----------
----------
8. Controlling party
The company was under the control of the directors throughout the current and previous year.