Company No: 03426392 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,186		2,268
Investments	4	6,235		6,235
		8,421		8,503
Current assets
Stocks	5	2,517		5,763
Debtors	6	279,017		217,338
Cash at bank and in hand		338,462		283,236
		619,996		506,337
Creditors: amounts falling due within one year	7	( 249,910)		( 170,350)
Net current assets		370,086		335,987
Total assets less current liabilities		378,507		344,490
Creditors: amounts falling due after more than one year	8	( 75,722)		( 75,722)
Net assets		302,785		268,768
Capital and reserves
Called-up share capital		52,350		52,350
Share premium account		1,517		1,517
Profit and loss account		248,918		214,901
Total shareholders' funds		302,785		268,768

For the financial year ending 31 December 2025 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 financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Shipley Limited (registered number: 03426392) were approved and authorised for issue by the Board of Directors on 11 September 2026. They were signed on its behalf by:

L M Retter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shipley Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Abbey Manor Business Centre, Preston Road, Yeovil, BA20 2EN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for services provided net of VAT and is recognised to the extent that there is a right to consideration and is recorded at the value of consideration due.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	3 years straight line
Office equipment	3 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals payable under operating leases are charged in the profit and loss on a straight line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		14

3. Tangible assets

	Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2025	169		4,074		56,849		61,092
Additions	0		159		1,465		1,624
Disposals	0		0		( 3,869)		( 3,869)
At 31 December 2025	169		4,233		54,445		58,847
Accumulated depreciation
At 01 January 2025	169		3,465		55,190		58,824
Charge for the financial year	0		411		1,295		1,706
Disposals	0		0		( 3,869)		( 3,869)
At 31 December 2025	169		3,876		52,616		56,661
Net book value
At 31 December 2025	0		357		1,829		2,186
At 31 December 2024	0		609		1,659		2,268

4. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	6,235		6,235

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	6,235
At 31 December 2025	6,235
Carrying value at 31 December 2025	6,235
Carrying value at 31 December 2024	6,235

5. Stocks

	2025		2024
	£		£
Stocks	2,517		5,763

6. Debtors

	2025		2024
	£		£
Trade debtors	253,799		195,375
Other debtors	25,218		21,963
	279,017		217,338

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	56,700		34,795
Other taxation and social security	102,989		68,388
Other creditors	90,221		67,167
	249,910		170,350

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	75,722		75,722

There are no amounts included above in respect of which any security has been given by the small entity.