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Registered number: 07684565 SHIP SHOP REGENERATION LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
SHIP SHOP REGENERATION LIMITED REGISTERED NUMBER: 07684565 BALANCE SHEET AS AT 31 JANUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks |  | 503,050 |  | 494,557 |
Debtors: amounts falling due within one year | 4 | 1,212 |  | 888 |
Cash at bank and in hand |  | 1,806 |  | 412 |
|  | 506,068 |  | 495,857 |
Creditors: amounts falling due within one year | 5 | (164,560) |  | (201,773) |
Net current assets |  |  | 341,508 |  | 294,084
Creditors: amounts falling due after more than one year | 6 |  | (462,680) |  | (402,680)
Net liabilities |  |  | (121,172) |  | (108,596)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (121,272) |  | (108,696)
|  |  | (121,172) |  | (108,596)
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SHIP SHOP REGENERATION LIMITED REGISTERED NUMBER: 07684565 BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2025.
J E Nuttall
Director
The notes on pages 3 to 5 form part of these financial statements. Page 2
SHIP SHOP REGENERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. | General information
Ship Shop Regeneration Limited is a private company limited by shares, incorporated in England and Wales (registered number: 07684565). Its registered office is 443 Handsworth Road, Handsworth, Sheffield, England, S13 9DD. The principal activities of the Company throughout the year continued to be that of property development and rental. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentation currency is pounds sterling. The following principal accounting policies have been applied:
| 2.2 | Going concern
At 31 January 2025 the Company's liabilities exceeded its assets by £121,172 (2024: £108,596). The ability of the company to meet its liabilities as they fall due is dependent on the future profitability and cash generation of the company. The directors are confident that the company will be able to pay its debts as they fall due and accordingly these accounts are prepared on a going concern basis.
| 2.3 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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. Page 3
SHIP SHOP REGENERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.4 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price 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, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. 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.
| 2.5 | Taxation
Tax is recognised in the Statement of Income and Retained Earnings. The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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SHIP SHOP REGENERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
4. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Prepayments and accrued income | 1,212 | 888
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 2,297 | 6,682
| Amounts owed to group undertakings | 134,085 | 166,555
| Other taxation and social security | 328 | 1,250
| Other creditors | 603 | 716
| Accruals and deferred income | 27,247 | 26,570
|  | 164,560 | 201,773
6. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 462,680 | 402,680
| Secured loans Security has been given on the loan included in creditors due after more than one year.
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