Company Registration No. 07935420 (England and Wales)
Shevington Jv Ltd
Unaudited accounts
for the year ended 31 December 2024
Shevington Jv Ltd
Unaudited accounts
Contents
Shevington Jv Ltd
Company Information
for the year ended 31 December 2024
Directors
Ansar Mahmood
Azhar Ali Ahmed
Company Number
07935420 (England and Wales)
Registered Office
Shevington Surgery
1 Houghton Lane
Shevington
Wigan
Lancashire
WN6 8ET
England
Accountants
Shipleys Tax - Chartered Accountants
32 Park Cross Street
Leeds
West Yorkshire
LS1 2QH
Shevington Jv Ltd
Statement of financial position
as at 31 December 2024
Intangible assets
37,500
82,500
Tangible assets
6,510
11,767
Cash at bank and in hand
113,976
217,049
Creditors: amounts falling due within one year
(405,781)
(313,922)
Net current (liabilities)/assets
(21,818)
172,635
Total assets less current liabilities
22,192
266,902
Provisions for liabilities
Deferred tax
(1,628)
(2,942)
Called up share capital
10
10
Profit and loss account
20,554
263,950
Shareholders' funds
20,564
263,960
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 directors acknowledge their 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 of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by
Ansar Mahmood
Director
Company Registration No. 07935420
Shevington Jv Ltd
Notes to the Accounts
for the year ended 31 December 2024
Shevington Jv Ltd is a private company, limited by shares, registered in England and Wales, registration number 07935420. The registered office is Shevington Surgery, 1 Houghton Lane, Shevington, Wigan, Lancashire, WN6 8ET, 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The Directors have made an assessment of the Company’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements were approved for release. As a result of this assessment, the Directors consider that the Company is able to continue to operate as a going concern and that it is appropriate to prepare the financial statements on a going concern basis.
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% reducing balance method
Motor vehicles
25% straight line method
Fixtures & fittings
20% straight line method
Computer equipment
33% straight line method
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Licences - 5 years
Shevington Jv Ltd
Notes to the Accounts
for the year ended 31 December 2024
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial liabilities and equity are classified according to the substance of the financial instruments contractual obligations, rather than legal form.
The Company's cash at bank and in hand and trade and other debtors and its trade and other creditors are measured initially at the transaction price, including transaction cost, and subsequently at amortised cost using effective interest method.
Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
Apart from the Health England grant in prior year, the Company has not directly benefited from any other forms of government assistance.
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 payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Shevington Jv Ltd
Notes to the Accounts
for the year ended 31 December 2024
Current and Deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date
Judgements in applying accounting policies and key sources of estimation uncertainty
In preparing these financial statements, the directors have had to make the following judgements:
-Determining that the stock valuation should include goods in transit as the Company becomes liable for the goods when the orders are placed, not when the goods are received.
- Determine whether leases entered into by the Company either as a lessor or a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the Company's tangible and intangible assets.
Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
4
Intangible fixed assets
Other
At 31 December 2024
225,000
Charge for the year
45,000
At 31 December 2024
187,500
At 31 December 2024
37,500
At 31 December 2023
82,500
Shevington Jv Ltd
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
1,000
9,761
15,020
25,781
At 31 December 2024
1,000
9,761
15,020
25,781
At 1 January 2024
146
9,761
4,107
14,014
Charge for the year
250
-
5,007
5,257
At 31 December 2024
396
9,761
9,114
19,271
At 31 December 2024
604
-
5,906
6,510
At 31 December 2023
854
-
10,913
11,767
Finished goods
50,000
54,265
Amounts falling due within one year
Amounts due from group undertakings etc.
6,001
-
Accrued income and prepayments
163,412
164,075
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
275,987
251,658
Amounts owed to group undertakings and other participating interests
10,000
9,990
Taxes and social security
28,293
46,576
Other creditors
80,001
290
Loans from directors
10,000
-
Shevington Jv Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Deferred taxation
2024
2023
Accelerated capital allowances
1,628
2,942
Provision at start of year
2,942
-
(Credited)/charged to the profit and loss account
(1,314)
2,942
Provision at end of year
1,628
2,942
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
11
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
27,864
27,864
Later than one year and not later than five years
111,456
111,456
Later than five years
211,302
239,166
As at the balance sheet date, the immediate and ultimate parent company of Shevington JV Ltd is Adams Thornton Ltd , a company incorporated in England and Wales. Adam Thornton Ltd hold 100% of the issued share capital of Shevington JV Ltd, giving it the ability to exercise control over the company.
13
Average number of employees
During the year the average number of employees was 18 (2023: 18).