Company Registration No. 10521622 (England and Wales)
Shutter Suffolk Limited
Unaudited accounts
for the year ended 31 December 2024
Shutter Suffolk Limited
Unaudited accounts
Contents
Shutter Suffolk Limited
Company Information
for the year ended 31 December 2024
Company Number
10521622 (England and Wales)
Registered Office
UNIT 5B THE BARTON ROAD TRADING ESTATE
BURY ST. EDMUNDS
SUFFOLK
IP32 7BE
ENGLAND
Shutter Suffolk Limited
Statement of financial position
as at 31 December 2024
Tangible assets
20,181
24,542
Cash at bank and in hand
10,710
9,469
Creditors: amounts falling due within one year
(59,780)
(41,458)
Net current assets
3,785
12,144
Total assets less current liabilities
23,966
36,686
Creditors: amounts falling due after more than one year
(20,391)
(27,827)
Provisions for liabilities
Deferred tax
(3,507)
(4,663)
Called up share capital
2
2
Profit and loss account
66
4,194
Shareholders' funds
68
4,196
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 September 2025 and were signed on its behalf by
O G Davitt
Director
Company Registration No. 10521622
Shutter Suffolk Limited
Notes to the Accounts
for the year ended 31 December 2024
Shutter Suffolk Limited is a private company, limited by shares, registered in England and Wales, registration number 10521622. The registered office is UNIT 5B THE BARTON ROAD TRADING ESTATE, BURY ST. EDMUNDS, SUFFOLK, IP32 7BE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on reducing balance
Grants are recognised on the accruals basis and are recognised in the Income Statement when the company receives the right to receive the grant.
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.
Shutter Suffolk Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets andliabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the
Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If
a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for
the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle
the liability simultaneously.
Shutter Suffolk Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
3,116
33,288
2,251
2,311
40,966
Additions
-
-
-
1,725
1,725
At 31 December 2024
3,116
33,288
2,251
4,036
42,691
At 1 January 2024
2,050
11,551
1,235
1,588
16,424
Charge for the year
266
5,385
254
181
6,086
At 31 December 2024
2,316
16,936
1,489
1,769
22,510
At 31 December 2024
800
16,352
762
2,267
20,181
At 31 December 2023
1,066
21,737
1,016
723
24,542
Amounts falling due within one year
Trade debtors
31,622
17,078
Accrued income and prepayments
17,408
23,230
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
17,095
15,156
Taxes and social security
9,165
7,532
Loans from directors
(9,930)
(6,608)
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
13,747
17,184
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).