Shaw Paints Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09573012 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019

FOR

SHAW PAINTS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C I Shaw

REGISTERED OFFICE:

11 Castle Hill

Maidenhead

Berkshire

SL6 4AA

REGISTERED NUMBER:

09573012 (England and Wales)

ACCOUNTANTS:

Knight & Company

Chartered Certified Accountants

11 Castle Hill

Maidenhead

Berkshire

SL6 4AA

FIXED ASSETS

Tangible assets

4

158,284

66,889

CURRENT ASSETS

Stocks

140,617

144,283

Debtors

149,569

77,605

Cash at bank and in hand

73,368

40,784

363,554

262,672

CREDITORS

Amounts falling due within one year

439,717

270,243

NET CURRENT LIABILITIES

(76,163

)

(7,571

)

TOTAL ASSETS LESS CURRENT LIABILITIES

82,121

59,318

PROVISIONS FOR LIABILITIES

16,122

8,421

NET ASSETS

65,999

50,897

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

65,899

50,797

SHAREHOLDERS' FUNDS

65,999

50,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 April 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 22 August 2019 and were signed by:

C I Shaw - Director

1.	STATUTORY INFORMATION

Shaw Paints Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 10 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Net realisable value is based on selling price less anticipated costs to completion plus selling costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2018

120,501

Additions

160,548

At 30 April 2019

281,049

DEPRECIATION

At 1 May 2018

53,612

Charge for year

69,153

At 30 April 2019

122,765

NET BOOK VALUE

At 30 April 2019

158,284

At 30 April 2018

66,889

5.	LEASING AGREEMENTS

As at 30th April 2019 Shaw Paints Ltd future total operating lease commitment is £381,642.

6.	RELATED PARTY DISCLOSURES