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Registration number: 09225833

SH ONLINE LTD

trading as SHO

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

SH ONLINE LTD

trading as SHO

Contents

Company Information

1

Statement of financial position

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

SH ONLINE LTD

trading as SHO

Company Information

Directors

Mr S Heraghty

Miss C Harpley

Registered office

3-5 Horsley's Fields
Kings Lynn
Norfolk
PE30 5DD

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

SH ONLINE LTD

trading as SHO

(Registration number: 09225833)
Statement of financial position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

76,046

60,614

Tangible assets

5

46,177

66,037

 

122,223

126,651

Current assets

 

Stocks

6

629,412

680,022

Debtors

7

537,391

366,867

Cash at bank and in hand

 

839,516

641,496

 

2,006,319

1,688,385

Creditors: Amounts falling due within one year

8

(1,136,820)

(833,330)

Net current assets

 

869,499

855,055

Total assets less current liabilities

 

991,722

981,706

Creditors: Amounts falling due after more than one year

8

(152,892)

(256,506)

Provisions for liabilities

(11,545)

(14,832)

Net assets

 

827,285

710,368

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

827,185

710,268

Shareholders' funds

 

827,285

710,368

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

 

SH ONLINE LTD

trading as SHO

(Registration number: 09225833)
Statement of financial position as at 31 December 2024

.........................................
Mr S Heraghty
Director

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3-5 Horsley's Fields
Kings Lynn
Norfolk
PE30 5DD

The principal place of business is:
3-5 Horsley's Fields
Kings Lynn
Norfolk
PE30 5DD

These financial statements were authorised for issue by the Board on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Moulds are depreciated over units of production, with a mould having an estimated maximum life of 20,000 units.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% reducing balance

Moulds

Over mould usage

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

10% Straight Line

Patents and Trademarks

5 Years Straight Line

Product development

5 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 13).

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Internally generated software development costs
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

-

72,432

-

72,432

Additions acquired separately

16,336

-

44,690

61,026

Transfer

-

(39,626)

-

(39,626)

At 31 December 2024

16,336

32,806

44,690

93,832

Amortisation

At 1 January 2024

-

11,818

-

11,818

Amortisation charge

1,915

3,281

772

5,968

At 31 December 2024

1,915

15,099

772

17,786

Carrying amount

At 31 December 2024

14,421

17,707

43,918

76,046

At 31 December 2023

-

60,614

-

60,614

Individually material intangible assets

Assets in construction

Included within the above carrying amount are assets which have not been amortised as they were incomplete at year end.

The carrying amount of these assets is £21,530 (2023 -£36,380 )

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

135,236

135,236

Additions

937

937

Disposals

(786)

(786)

At 31 December 2024

135,387

135,387

Depreciation

At 1 January 2024

69,199

69,199

Charge for the year

20,363

20,363

Eliminated on disposal

(352)

(352)

At 31 December 2024

89,210

89,210

Carrying amount

At 31 December 2024

46,177

46,177

At 31 December 2023

66,037

66,037

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

629,412

680,022

7

Debtors

Current

2024
£

2023
£

Trade debtors

175,007

86,594

Prepayments

344,331

265,915

Other debtors

18,053

14,358

 

537,391

366,867

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

101,466

101,827

Trade creditors

 

210,222

169,684

Amounts due to related parties

11

26,468

252

Social security and other taxes

 

493,437

391,082

Outstanding defined contribution pension costs

 

-

1,888

Other payables

 

173,575

96,798

Accruals

 

48,664

36,992

Tax liability

82,988

28,549

Deferred income

 

-

6,258

 

1,136,820

833,330

Due after one year

 

Loans and borrowings

152,892

256,506


Creditors include net obligations under hire purchase contracts which are secured of £Nil (2023 - £2,026).


Creditors include unsecured loans payable in instalments of £101,466 (2023 - £99,801).

Creditors due after one year include unsecured loans payable in instalments of £152,892 (2023 - £256,505).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

75

75

75

75

Ordinary B Shares of £1 each

25

25

25

25

100

100

100

100

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

 

SH ONLINE LTD

trading as SHO

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

8,565

5,714

Later than one year and not later than five years

24,982

-

33,547

5,714

The amount of non-cancellable operating lease payments recognised as an expense during the year was £8,572 (2023 - £10,158).

11

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

252

252

Advanced

26,216

26,216

At end of period

26,468

26,468

2023

Key management
£

Total
£

At start of period

3,061

3,061

Repaid

(2,809)

(2,809)

At end of period

252

252

Terms of loans from related parties

Directors loan to the comapny.