IRIS Accounts Production v25.2.0.378 03236998 Board of Directors Board of Directors 1.12.23 30.11.24 30.11.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032369982023-11-30032369982024-11-30032369982023-12-012024-11-30032369982022-11-30032369982022-12-012023-11-30032369982023-11-3003236998ns15:EnglandWales2023-12-012024-11-3003236998ns14:PoundSterling2023-12-012024-11-3003236998ns10:Director12023-12-012024-11-3003236998ns10:Director22023-12-012024-11-3003236998ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3003236998ns10:SmallEntities2023-12-012024-11-3003236998ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3003236998ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3003236998ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3003236998ns10:FullAccounts2023-12-012024-11-3003236998ns10:Director32023-12-012024-11-3003236998ns10:CompanySecretary12023-12-012024-11-3003236998ns10:RegisteredOffice2023-12-012024-11-3003236998ns5:CurrentFinancialInstruments2024-11-3003236998ns5:CurrentFinancialInstruments2023-11-3003236998ns5:Non-currentFinancialInstruments2024-11-3003236998ns5:Non-currentFinancialInstruments2023-11-3003236998ns5:ShareCapital2024-11-3003236998ns5:ShareCapital2023-11-3003236998ns5:RetainedEarningsAccumulatedLosses2024-11-3003236998ns5:RetainedEarningsAccumulatedLosses2023-11-3003236998ns5:PlantMachinery2023-12-012024-11-3003236998ns5:FurnitureFittings2023-12-012024-11-3003236998ns5:MotorVehicles2023-12-012024-11-3003236998ns5:PlantMachinery2023-11-3003236998ns5:FurnitureFittings2023-11-3003236998ns5:MotorVehicles2023-11-3003236998ns5:PlantMachinery2024-11-3003236998ns5:FurnitureFittings2024-11-3003236998ns5:MotorVehicles2024-11-3003236998ns5:PlantMachinery2023-11-3003236998ns5:FurnitureFittings2023-11-3003236998ns5:MotorVehicles2023-11-3003236998ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3003236998ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3003236998ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-11-3003236998ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-11-3003236998ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-11-3003236998ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-11-3003236998ns5:HirePurchaseContracts2024-11-3003236998ns5:HirePurchaseContracts2023-11-3003236998ns5:WithinOneYear2024-11-3003236998ns5:WithinOneYear2023-11-3003236998ns5:BetweenOneFiveYears2024-11-3003236998ns5:BetweenOneFiveYears2023-11-3003236998ns5:AllPeriods2024-11-3003236998ns5:AllPeriods2023-11-30
REGISTERED NUMBER: 03236998 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

SHIRLEY SMITH & SONS LIMITED
T/A
SSAS TOOLING

SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHIRLEY SMITH & SONS LIMITED
T/A SSAS TOOLING

COMPANY INFORMATION
for the year ended 30 November 2024







DIRECTORS: Mr P C Smith
Mr A O Smith
Mr S A Smith





SECRETARY: Mr P C Smith





REGISTERED OFFICE: 55a Faircharm Estate
Evelyn Drive
Leicester
Leicestershire
LE3 2BT





REGISTERED NUMBER: 03236998 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 141,151 130,359

CURRENT ASSETS
Stocks 10,300 7,000
Debtors 5 60,660 76,201
Cash at bank 210,809 196,598
281,769 279,799
CREDITORS
Amounts falling due within one year 6 (98,286 ) (75,845 )
NET CURRENT ASSETS 183,483 203,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,634

334,313

CREDITORS
Amounts falling due after more than one
year

7

(11,693

)

(14,350

)

PROVISIONS FOR LIABILITIES (25,500 ) (24,250 )
NET ASSETS 287,441 295,713

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 287,341 295,613
287,441 295,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

BALANCE SHEET - continued
30 November 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:




Mr P C Smith - Director



Mr A O Smith - Director


SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2024


1. STATUTORY INFORMATION

Shirley Smith & Sons Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is 55a Faircharm Estate, Evelyn Drive, Leicester, Leicestershire, LE3 2BT and the registered number is 03236998.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% straight line
Fixtures and fittings - 20% straight line
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other 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 payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.


SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023 662,144 67,420 27,954 757,518
Additions - - 43,651 43,651
Disposals - - (22,759 ) (22,759 )
At 30 November 2024 662,144 67,420 48,846 778,410
DEPRECIATION
At 1 December 2023 534,366 66,928 25,865 627,159
Charge for year 19,621 236 10,913 30,770
Eliminated on disposal - - (20,670 ) (20,670 )
At 30 November 2024 553,987 67,164 16,108 637,259
NET BOOK VALUE
At 30 November 2024 108,157 256 32,738 141,151
At 30 November 2023 127,778 492 2,089 130,359

SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 56,541 73,126
Prepayments and accrued income 4,119 3,075
60,660 76,201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 19,003 14,350
Trade creditors 6,542 6,177
Corporation tax 5,814 121
Social security and other taxes 3,494 -
VAT 15,905 14,523
Other creditors 2,989 7,140
Directors' current accounts 39,706 30,221
Accrued expenses 4,833 3,313
98,286 75,845

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 11,693 14,350

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 19,003 14,350
Between one and five years 11,693 14,350
30,696 28,700

Non-cancellable
operating leases
2024 2023
£    £   
Within one year 9,895 -
Between one and five years 1,920 -
11,815 -

SHIRLEY SMITH & SONS LIMITED (REGISTERED NUMBER: 03236998)
T/A SSAS TOOLING

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,696 28,700

Hire purchase contracts are secured upon the assets to which they relate.