Shills of Cockermouth Ltd


Directors	SPECK, Caroline Tracy
	SPECK, Emily Victoria Margaret
	SPECK, Jonathan Roger Charles


Registered Address	Highfield Hotel
	The Heads
	Keswick
	CA12 5ER


Registered Number	08497479 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on 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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, 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 the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		28

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	4,675	4,675
At 31 March 25	4,675	4,675
Amortisation and impairment
Charge for year	935	935
At 31 March 25	935	935
Net book value
At 31 March 25	3,740	3,740
At 31 March 24	4,675	4,675

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	97,051	6,979	39,869	5,945	149,844
Additions	-	785	952	-	1,737
Disposals	-	(749)	-	-	(749)
At 31 March 25	97,051	7,015	40,821	5,945	150,832
Depreciation and impairment
At 01 April 24	88,373	1,753	36,792	4,556	131,474
Charge for year	4,373	1,156	1,342	1,158	8,029
On disposals	-	(240)	-	-	(240)
At 31 March 25	92,746	2,669	38,134	5,714	139,263
Net book value
At 31 March 25	4,305	4,346	2,687	231	11,569
At 31 March 24	8,678	5,226	3,077	1,389	18,370

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	2,948	12,320
Prepayments and accrued income	14,703	8,003
Total	17,651	20,323


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Other debtors includes a provision for deferred tax amounting to £8,000. It is made up of (£2,892) in respect of accelerated capital allowances and £10,977 in respect of losses carried forward.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Other debtors includes a provision for deferred tax amounting to £8,000. It is made up of (£2,892) in respect of accelerated capital allowances and £10,977 in respect of losses carried forward.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	34,355	53,475
Amounts owed to related parties	61,907	84,313
Taxation and social security	21,351	24,987
Other creditors	49,082	40,754
Accrued liabilities and deferred income	9,224	6,809
Total	175,919	210,338


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Provisions for liabilities
	The provision for deferred tax is made up of £2,900 in respect of accelerated capital allowances and (£5,700) in respect of losses carried forwards.

8.	Related party transactions
	During the year the company continued to borrow funds interest free from J & E Enterprises Limited, its parent company. At the balance sheet date the company owed £61,907 (2024 - £84,313) to J & E Enterprises Limited.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		3,740		4,675
Tangible assets	4		11,569		18,370
			15,309		23,045
Current assets
Stocks		41,500		39,873
Debtors	5	17,651		20,323
Cash at bank and on hand		41,102		68,831
		100,253		129,027
Creditors amounts falling due within one year	6	(175,919)		(210,338)
Net current assets (liabilities)			(75,666)		(81,311)
Total assets less current liabilities			(60,357)		(58,266)
Net assets			(60,357)		(58,266)
Capital and reserves
Called up share capital			2		2
Profit and loss account			(60,359)		(58,268)
Shareholders' funds			(60,357)		(58,266)