Company registration number 09032419 (England and Wales)
SHACK IN THE BACK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SHACK IN THE BACK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SHACK IN THE BACK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,426
20,335
Current assets
Debtors
4
215,423
199,927
Cash at bank and in hand
224,736
202,891
440,159
402,818
Creditors: amounts falling due within one year
5
(242,342)
(165,874)
Net current assets
197,817
236,944
Total assets less current liabilities
227,243
257,279
Creditors: amounts falling due after more than one year
6
(2,737)
(12,500)
Net assets
224,506
244,779
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
224,406
244,679
Total equity
224,506
244,779

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 October 2025 and are signed on its behalf by:
Mr Liam Ivory
Mr Christopher Davids
Director
Director
Company registration number 09032419 (England and Wales)
SHACK IN THE BACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Shack In The Back Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.

1.1
Reporting period

The prior period reporting date was shortened from 31 May 2024 to 31 March 2024 for commercial reasons. The comparative amounts presented in the financial statements, including the related notes, are therefore not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from merchandise is recognised on receipt of payment.

Revenue from live performance is recognised based on performance date.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SHACK IN THE BACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

An impairment loss is recognised immediately in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

SHACK IN THE BACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
153,816
52,516
1,150
207,482
Additions
29,373
4,399
-
0
33,772
At 31 March 2025
183,189
56,915
1,150
241,254
Depreciation and impairment
At 1 April 2024
138,105
47,892
1,150
187,147
Depreciation charged in the year
19,941
4,740
-
0
24,681
At 31 March 2025
158,046
52,632
1,150
211,828
Carrying amount
At 31 March 2025
25,143
4,283
-
0
29,426
At 31 March 2024
15,711
4,624
-
0
20,335
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
12,271
32,131
Other debtors
203,152
167,796
215,423
199,927
SHACK IN THE BACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
32,994
-
0
Corporation tax
30,180
52,684
Other taxation and social security
40,400
3,899
Other creditors
128,768
99,291
242,342
165,874
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,737
12,500
7
Related party transactions

During the year L'Roix Limited, of which Liam Ivory is a director, was loaned £38,708 by the company and repaid £88,560 to the company. At the balance sheet date, the outstanding balance was £nil (2024: £49,852).

During the year C.M. Davids Limited, of which Chris Davids is a director, was loaned £42,212 by the company and repaid £70,364 to the company. At the balance sheet date, the outstanding balance was £nil (2024: £28,152).

No interest is payable on these balances.

8
Directors' transactions

Dividends totalling £130,000 (2024 - £60,000) were paid in the year in respect of shares held by the company's directors.

During the year, the company paid expenses on behalf of a director, Liam Ivory, totalling £83,005 and was repaid £80,421. At the balance sheet date, the company owed £1,637 to the director (2024: £4,220).

During the year, the company paid expenses on behalf of a director, Christopher Davids, totalling £78,921 and was repaid £78,438. At the balance sheet date, the company owed £1,157 to the director (2024: £1,640).

No interest is payable on these balances.

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