Company registration number 09487187 (England and Wales)
SHAFE & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
SHAFE & SONS LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SHAFE & SONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
41
Tangible assets
4
16,057
19,031
Current assets
Stocks
5,900
6,200
Debtors
5
25,386
30,274
Cash at bank and in hand
14,837
21,084
46,123
57,558
Creditors: amounts falling due within one year
6
(50,304)
(58,298)
Net current liabilities
(4,181)
(740)
Total assets less current liabilities
11,876
18,332
Creditors: amounts falling due after more than one year
7
(17,593)
(23,259)
Provisions for liabilities
(3,050)
(3,616)
Net liabilities
(8,767)
(8,543)
Capital and reserves
Called up share capital
8
700
700
Profit and loss reserves
(9,467)
(9,243)
Total equity
(8,767)
(8,543)
SHAFE & SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -

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

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 16 July 2026 and are signed on its behalf by:
Mrs M Shafe
Director
Company Registration No. 09487187
The notes on pages 3 to 7 form part of these financial statements
SHAFE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

Shafe & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is 63 Frinton Road, Holland on Sea, Clacton on Sea, Essex, CO15 5UH.

1.1
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for plumbing and heating goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
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:

Long leasehold property
No charge
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance

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.

SHAFE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash at bank and in hand

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.

1.8
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.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

SHAFE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
2
Employees

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

2026
2025
Number
Number
Total
8
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
30,000
Amortisation and impairment
At 1 April 2025
29,959
Amortisation charged for the year
41
At 31 March 2026
30,000
Carrying amount
At 31 March 2026
-
0
At 31 March 2025
41
SHAFE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
4
Tangible fixed assets
Long leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2025
5,155
1,419
27,025
33,599
Additions
-
0
458
-
0
458
Disposals
-
0
(390)
-
0
(390)
At 31 March 2026
5,155
1,487
27,025
33,667
Depreciation and impairment
At 1 April 2025
-
0
755
13,811
14,566
Depreciation charged in the year
-
0
105
3,303
3,408
Eliminated in respect of disposals
-
0
(364)
-
0
(364)
At 31 March 2026
-
0
496
17,114
17,610
Carrying amount
At 31 March 2026
5,155
991
9,911
16,057
At 31 March 2025
5,155
664
13,212
19,031
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
14,838
19,501
Other debtors
10,548
10,773
25,386
30,274
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
5,556
5,556
Trade creditors
25,542
26,766
Taxation and social security
12,107
16,059
Other creditors
7,099
9,917
50,304
58,298
SHAFE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
17,593
23,148
Other creditors
-
0
111
17,593
23,259
8
Called up share capital
2026
2025
£
£
Ordinary share capital
Issued and fully paid
600 Ordinary shares of £1 each
600
600
Preference share capital
Issued and fully paid
100 Preference shares of £1 each
100
100
Preference shares classified as equity
100
100
Total equity share capital
700
700
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
26,771
32,257
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