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Company No: 01589536 (England and Wales)

SHRINK 1ST LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

SHRINK 1ST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

SHRINK 1ST LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
SHRINK 1ST LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
DIRECTORS R Hatton
G Jones
REGISTERED OFFICE Units 8 & 9 Bridgewater Close
Hawksworth Trading Estate
Swindon
SN2 1ED
United Kingdom
COMPANY NUMBER 01589536 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
SHRINK 1ST LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
SHRINK 1ST LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 116,158 116,513
116,158 116,513
Current assets
Stocks 226,401 257,956
Debtors 4 1,288,308 1,068,348
Cash at bank and in hand 1,081,899 1,008,875
2,596,608 2,335,179
Creditors: amounts falling due within one year 5 ( 959,408) ( 867,325)
Net current assets 1,637,200 1,467,854
Total assets less current liabilities 1,753,358 1,584,367
Creditors: amounts falling due after more than one year 6 ( 18,524) ( 28,891)
Provision for liabilities ( 28,099) ( 29,037)
Net assets 1,706,735 1,526,439
Capital and reserves
Called-up share capital 7 4,000 4,000
Capital contribution reserve 220,000 220,000
Profit and loss account 1,482,735 1,302,439
Total shareholder's funds 1,706,735 1,526,439

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 financial statements of Shrink 1st Limited (registered number: 01589536) were approved and authorised for issue by the Board of Directors on 25 June 2025. They were signed on its behalf by:

G Jones
Director
SHRINK 1ST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
SHRINK 1ST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shrink 1st Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Units 8 & 9 Bridgewater Close, Hawksworth Trading Estate, Swindon, SN2 1ED, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 3 - 4 years straight line
Plant and machinery etc. 15 % reducing balance
2 - 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 9

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2024 86,176 295,081 381,257
Additions 9,935 12,574 22,509
At 31 December 2024 96,111 307,655 403,766
Accumulated depreciation
At 01 January 2024 77,645 187,099 264,744
Charge for the financial year 6,039 16,825 22,864
At 31 December 2024 83,684 203,924 287,608
Net book value
At 31 December 2024 12,427 103,731 116,158
At 31 December 2023 8,531 107,982 116,513

4. Debtors

2024 2023
£ £
Trade debtors 667,796 513,234
Amounts owed by Parent undertakings 525,304 525,304
Other debtors 95,208 29,810
1,288,308 1,068,348

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,433 8,499
Trade creditors 672,446 536,020
Taxation and social security 149,081 208,712
Other creditors 128,448 114,094
959,408 867,325

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 18,524 28,891

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3,000 Ordinary A shares of £ 1.00 each 3,000 3,000
1,000 Ordinary B shares of £ 1.00 each 1,000 1,000
4,000 4,000

8. Financial commitments

Other financial commitments

2024 2023
£ £
Operating lease commitments 177,280 35,951