REGISTERED NUMBER: 06533943 (England and Wales)

S.H.I.P.P. Limited

Unaudited Financial Statements

for the Year Ended 31st March 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

S Baker

Mrs J Baker

SECRETARY:

Mrs J Baker

REGISTERED OFFICE:

310 Wellingborough Road

Northampton

Northamptonshire

NN1 4EP

BUSINESS ADDRESS:

29 Conyngham Road

Little Billing

Northampton

NN3 9TA

REGISTERED NUMBER:

06533943 (England and Wales)

ACCOUNTANTS:

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

FIXED ASSETS

Intangible assets

5

22,500

30,000

Tangible assets

6

1,639

1,430

24,139

31,430

CURRENT ASSETS

Stocks

100

100

Debtors

7

15,718

36,535

Cash at bank

37,460

14,060

53,278

50,695

CREDITORS

Amounts falling due within one year

8

57,875

54,278

NET CURRENT LIABILITIES

(4,597

)

(3,583

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,542

27,847

CREDITORS

Amounts falling due after more than one year

9

-

(11,793

)

PROVISIONS FOR LIABILITIES

11

(200

)

(100

)

NET ASSETS

19,342

15,954

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

19,242

15,854

SHAREHOLDERS' FUNDS

19,342

15,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th September 2025 and were signed on its behalf by:

S Baker - Director

1.	STATUTORY INFORMATION

S.H.I.P.P. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

The principal activity of the company in the year under review was that of the provision of plumbing and heating services.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

150,000

AMORTISATION

At 1st April 2024

120,000

Amortisation for year

7,500

At 31st March 2025

127,500

NET BOOK VALUE

At 31st March 2025

22,500

At 31st March 2024

30,000

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1st April 2024

3,124

3,360

10,500

16,984

Additions

-

749

-

749

At 31st March 2025

3,124

4,109

10,500

17,733

DEPRECIATION

At 1st April 2024

2,824

3,283

9,447

15,554

Charge for year

72

205

263

540

At 31st March 2025

2,896

3,488

9,710

16,094

NET BOOK VALUE

At 31st March 2025

228

621

790

1,639

At 31st March 2024

300

77

1,053

1,430

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

14,328

35,256

Other debtors

1,390

1,279

15,718

36,535

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

10,740

10,068

Trade creditors

5,639

15,654

Taxation and social security

36,139

15,812

Other creditors

5,357

12,744

57,875

54,278

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

-

11,793

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

10,740

10,068

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

10,323

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

1,470

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

200

100

Deferred

tax

£

Balance at 1st April 2024

100

Provided during year

100

Balance at 31st March 2025

200

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

13.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2025 or 31st March 2024.

14.	CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2025 or 31st March 2024.