REGISTERED NUMBER: |
Financial Statements for the Year Ended 30th June 2024 |
for |
SHACKERLEY (HOLDINGS) GROUP LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30th June 2024 |
for |
SHACKERLEY (HOLDINGS) GROUP LIMITED |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Contents of the Financial Statements |
for the Year Ended 30th June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SHACKERLEY (HOLDINGS) GROUP LIMITED |
Company Information |
for the Year Ended 30th June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditor |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Balance Sheet |
30th June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation Reserve |
Capital reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Notes to the Financial Statements |
for the Year Ended 30th June 2024 |
1. | STATUTORY INFORMATION |
Shackerley (Holdings) Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Turnover is the value of goods, net of value added tax, provided to customers during the year. |
Sale of Goods: |
Revenue from sale of goods is recognised when the following conditions are satisfied: |
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods; |
- the amount of revenue can be measured reliably; |
- it is probable that the economic benefits associated with the transaction will flow to the entity; and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view. |
Impairment of Assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors, loans to common controlled companies and cash and bank balances, are initially measured at transaction price including transaction costs. They are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Other financial assets |
All the company's financial assets fall to be classified as basic financial assets under Section 11 of FRS 102 and the company therefore holds no other financial assets. |
Basic financial liabilities |
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Other financial liabilities |
All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 profit or loss in the period to which they relate. |
Investments |
Investments in subsidiaries:- |
Investments held as fixed assets are stated at cost less provision for any impairment in value. Investments held by the company in subsidiaries denominated in foreign currencies are translated at rates ruling at the balance sheet date. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
Warranty provisions |
Warranty provisions are recognised in the accounts on the basis of the sale of products with warranty being the past obligation and giving rise to the present legal obligation, some expenditure being included to settle the whole class of warranty obligations and that the warranty provision is included as a best estimate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1st July 2023 |
Additions |
Revaluations |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
The properties have been revalued in the year on 26th April 2024 by Alan McNaughton MRICS. |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2024 |
5. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
6. | STOCKS |
30.6.24 | 30.6.23 |
£ | £ |
Raw materials |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors |
Directors' current accounts | - | 401,138 |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 25,084 | 99,376 |
Accrued expenses |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.24 | 30.6.23 |
£ | £ |
Within one year |
Between one and five years |
SHACKERLEY (HOLDINGS) GROUP LIMITED (REGISTERED NUMBER: 01704765) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 155,000 | 155,000 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Abrams Ashton - Chorley |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30th June 2024 and 30th June 2023: |
30.6.24 | 30.6.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The brought forward directors loan balance due from Mr BE Newell of £401,138 was repaid in full on 31st August 2023. Interest was charged up to the date of repayment at the official HMRC beneficial loan rate of 2%. |
13. | RELATED PARTY DISCLOSURES |
During the year, the company received a management charge of £50,000 from a business controlled by the director Mr BG Newell. This was in respect of management services provided by the company. |
14. | CONTROLLING PARTY |
The controlling party is Mr B G Newell. |
Throughout the current and previous year, the above named director, has controlled the company by virtue of holding 100% of the issued ordinary share capital. |