Registration number: 08399037

I & M Shaw Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

I & M Shaw Limited

(Registration number: 08399037)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	336,000	360,000
Tangible assets	5	159,264	178,146
		495,264	538,146
Current assets
Stocks	6	50,926	59,200
Debtors	7	143,134	65,122
Cash at bank and in hand		19,321	33,421
		213,381	157,743
Creditors: Amounts falling due within one year	8	(133,094)	(103,117)
Net current assets		80,287	54,626
Total assets less current liabilities		575,551	592,772
Creditors: Amounts falling due after more than one year	8	(21,641)	(43,986)
Provisions for liabilities		(35,614)	(33,848)
Net assets		518,296	514,938
Capital and reserves
Called up share capital		2	2
Share premium reserve		507,285	507,285
Retained earnings		11,009	7,651
Shareholders' funds		518,296	514,938

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 August 2025 and signed on its behalf by:
 

I & M Shaw Limited

(Registration number: 08399037)
Balance Sheet as at 31 October 2024

......................................... Mr Ian Mark Shaw Director

I & M Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sycamore Lodge Farm Ford Wetley
Onecote
Leek
ST13 7RN

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

I & M Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% reducing balance
Fixtures fittings & equipment	10% reducing balance
Plant & machinery	20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

I & M Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

I & M Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 November 2023	480,000	480,000
At 31 October 2024	480,000	480,000
Amortisation
At 1 November 2023	120,000	120,000
Amortisation charge	24,000	24,000
At 31 October 2024	144,000	144,000
Carrying amount
At 31 October 2024	336,000	336,000
At 31 October 2023	360,000	360,000

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 November 2023	13,845	189,880	171,220	374,945
Additions	-	-	15,150	15,150
Disposals	-	-	(15,000)	(15,000)
At 31 October 2024	13,845	189,880	171,370	375,095
Depreciation
At 1 November 2023	5,314	99,173	92,312	196,799
Charge for the year	853	18,141	13,415	32,409
Eliminated on disposal	-	-	(13,377)	(13,377)
At 31 October 2024	6,167	117,314	92,350	215,831
Carrying amount
At 31 October 2024	7,678	72,566	79,020	159,264
At 31 October 2023	8,531	90,707	78,908	178,146

I & M Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Stocks

	2024 £	2023 £
Work in progress	50,926	59,200

7

Debtors

Current	2024 £	2023 £
Trade debtors	124,462	51,660
Other debtors	18,672	13,462
	143,134	65,122

I & M Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		19,420	25,543
Trade creditors		42,121	45,071
Taxation and social security		41,812	31,556
Other creditors		29,741	947
		133,094	103,117

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	10,000	6,715
HP and finance lease liabilities	9,420	18,828
	19,420	25,543

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		21,641	43,986

9

Dividends

		2024		2023
		£		£
Interim dividend of £20,000.00 (2023 - £24,250.00) per ordinary share		40,000		48,500