Shapers (West Midlands) Limited - Period Ending 2018-06-30

Registration number: 10800274

Shapers (West Midlands) Limited

Annual Report and Unaudited Financial Statements

for the Period from 2 June 2017 to 30 June 2018

Shapers (West Midlands) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 6

Shapers (West Midlands) Limited

Company Information

Director

Miss J Taroni

Registered office

New Park Farm London Road Bassetts Pole Sutton Coldfield B75 6JZ

Accountants

Mitchell Meredith Limited The Exchange Fiveways Temple Street Llandrindod Wells Powys LD1 5HG

Page 1

Shapers (West Midlands) Limited

(Registration number: 10800274)
Balance Sheet as at 30 June 2018

	Note	2018 £
Fixed assets
Tangible assets	4	45,001
Current assets
Stocks	5	38,000
Cash at bank and in hand		6,171
		44,171
Creditors: Amounts falling due within one year	6	(94,815)
Net current liabilities		(50,644)
Net liabilities		(5,643)
Capital and reserves
Called up share capital		1
Profit and loss account		(5,644)
Total equity		(5,643)

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 2

Shapers (West Midlands) Limited

(Registration number: 10800274)
Balance Sheet as at 30 June 2018

For the financial period ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 October 2019
 

Miss J Taroni
Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Shapers (West Midlands) Limited

Notes to the Financial Statements for the Period from 2 June 2017 to 30 June 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
New Park Farm London Road
Bassetts Pole
Sutton Coldfield
B75 6JZ
UK

The principal place of business is:
Shapers
43 Avery Road
Sutton Coldfield
B73 6QB
UK

These financial statements were authorised for issue by the director on 7 October 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date the company had net current liabilities of £50,644 and total net liabilities of £5,643. However creditors includes a loan from the director of £84,973. On the basis of her continued support, the director consider it appropriate to prepare these accounts on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Page 4

Shapers (West Midlands) Limited

Notes to the Financial Statements for the Period from 2 June 2017 to 30 June 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4.

Page 5

Shapers (West Midlands) Limited

Notes to the Financial Statements for the Period from 2 June 2017 to 30 June 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	50,001	50,001
At 30 June 2018	50,001	50,001
Depreciation
Charge for the period	5,000	5,000
At 30 June 2018	5,000	5,000
Carrying amount
At 30 June 2018	45,001	45,001

5

Stocks

	2018 £
Stock	38,000

6

Creditors

Creditors: amounts falling due within one year

	2018 £
Due within one year
Trade creditors	5,632
Taxation and social security	4,211
Directors loan	84,972
	94,815

Page 6