REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
SHOREBUTTON LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
SHOREBUTTON LIMITED |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SHOREBUTTON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10 Nicholas Street |
Chester |
CH1 2NX |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
BALANCE SHEET |
30TH SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 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 | 10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
BALANCE SHEET - continued |
30TH SEPTEMBER 2024 |
The financial statements were approved by the director and authorised for issue on |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Shorebutton Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 30th September 2024 |
AMORTISATION |
Charge for year |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st October 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
6. | STOCKS |
30.9.24 | 30.9.23 |
£ | £ |
Finished goods |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade debtors |
Other debtors |
Mancuso Investments Ltd Loan | 1,800,000 | - |
Directors' current accounts | 322,646 | 521,646 |
Tax |
Prepayments |
Included in debtors are amounts due after more than one year £2,015,844 (2023: £215,844) |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 140,567 | 137,350 |
Wages control account | 1,118 | 807 |
Accruals and deferred income |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.9.24 | 30.9.23 |
£ | £ |
Within one year |
10. | PROVISIONS FOR LIABILITIES |
30.9.24 | 30.9.23 |
£ | £ |
Deferred tax | 95,466 | 33,824 |
Deferred |
tax |
£ |
Balance at 1st October 2023 |
Movement in the year due to: |
Changes in tax allowance | 61,642 |
Changes in tax rates |
Balance at 30th September 2024 |
SHOREBUTTON LIMITED (REGISTERED NUMBER: 04765916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
value: | £ | £ |
Ordinary | 1 | 1 | 1 |
12. | CAPITAL COMMITMENTS |
30.9.24 | 30.9.23 |
£ | £ |
Contracted but not provided for in the |
financial statements |
13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30th September 2024 and 30th September 2023: |
30.9.24 | 30.9.23 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The above loan which is repayable on demand was provided interest free to the director. |
14. | RELATED PARTY DISCLOSURES |
Included in other debtors is an amount of £2,460,036 (2023: £660,036) due from Mancuso Investments Limited, a company which is under the control of S.S. Mancuso. |
The company rented premises from Mancuso Investments Limited. The rental charge was £31,000 (2023: £31,000). |
15. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |