5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2024 - FRS102_2024 20,790 1,755 22,545 16,976 835 17,811 4,734 3,814 xbrli:pure xbrli:shares iso4217:GBP 02377757 2023-05-01 2024-04-30 02377757 2024-04-30 02377757 2023-04-30 02377757 2022-05-01 2023-04-30 02377757 2023-04-30 02377757 2022-04-30 02377757 core:PlantMachinery 2023-05-01 2024-04-30 02377757 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02377757 bus:Director4 2023-05-01 2024-04-30 02377757 core:PlantMachinery 2023-04-30 02377757 core:PlantMachinery 2024-04-30 02377757 core:WithinOneYear 2024-04-30 02377757 core:WithinOneYear 2023-04-30 02377757 core:ShareCapital 2024-04-30 02377757 core:ShareCapital 2023-04-30 02377757 core:RetainedEarningsAccumulatedLosses 2024-04-30 02377757 core:RetainedEarningsAccumulatedLosses 2023-04-30 02377757 core:PlantMachinery 2023-04-30 02377757 bus:Director1 2023-05-01 2024-04-30 02377757 bus:SmallEntities 2023-05-01 2024-04-30 02377757 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02377757 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02377757 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02377757 bus:FullAccounts 2023-05-01 2024-04-30 02377757 bus:OrdinaryShareClass1 2024-04-30 02377757 bus:OrdinaryShareClass1 2023-04-30 02377757 bus:Chairman 2023-04-30 02377757 bus:ChiefExecutive 2023-05-01 2024-04-30 02377757 bus:ChairmanChiefExecutive 2023-05-01 2024-04-30 02377757 bus:CompanySecretary1 2024-04-30
COMPANY REGISTRATION NUMBER: 02377757
Shoe Garage Limited
Filleted Unaudited Financial Statements
Year ended
30 April 2024
Shoe Garage Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Shoe Garage Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
4,734
3,814
Current assets
Stocks
500
500
Debtors
6
110,499
128,847
Cash at bank and in hand
29,994
51,467
---------
---------
140,993
180,814
Creditors: amounts falling due within one year
7
31,999
42,042
---------
---------
Net current assets
108,994
138,772
---------
---------
Total assets less current liabilities
113,728
142,586
Provisions
Taxation including deferred tax
899
725
---------
---------
Net assets
112,829
141,861
---------
---------
Shoe Garage Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
112,729
141,761
---------
---------
Shareholders funds
112,829
141,861
---------
---------
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 April 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 17 April 2025 , and are signed on behalf of the board by:
W Clark
Director
Company registration number: 02377757
Shoe Garage Limited
Notes to the Financial Statements
Year ended 30 April 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 North Wraxall, Nr. Chippenham, Wilts, SN14 8SD.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the fair value of services provided to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion. The value of incomplete services is recorded as accrued income and included as part of debtors.
Tax
Current tax represents the amount of tax payable or receivable in respect of the 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 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery
-
25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stock.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 May 2023
20,790
20,790
Additions
1,755
1,755
--------
--------
At 30 April 2024
22,545
22,545
--------
--------
Depreciation
At 1 May 2023
16,976
16,976
Charge for the year
835
835
--------
--------
At 30 April 2024
17,811
17,811
--------
--------
Carrying amount
At 30 April 2024
4,734
4,734
--------
--------
At 30 April 2023
3,814
3,814
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
11,015
6,463
Other debtors
99,484
122,384
---------
---------
110,499
128,847
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,500
18,093
Social security and other taxes
10,393
19,369
Other creditors
9,106
4,580
--------
--------
31,999
42,042
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Directors' advances, credits and guarantees
With regard to the advances to directors, the balance at the start of the year was £ 72,872 . Further advances totalling £ 28,500 and repayments totalling £ 48,500 were made during the year and the balance at the year-end was £ 52,872 . The advances were made interest-free and are repayable on demand.