SHL Maintenance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05709149 (England and Wales)

SHL Maintenance Limited

Unaudited financial statements

For the year ended

31st March 2019

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

8

Directors:

Mrs J M Ladell

S P Ladell

Secretary:

Ms L Ladell

Registered office:

Unit 12 Forbes Business Centre

Bury St Edmunds

Suffolk

IP32 7AR

Registered number:

05709149 (England and Wales)

Accountants:

Haines Watts

8 Hopper Way

Diss

Norfolk

IP22 4GT

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

41,034

52,099

Investment property

6

690,000

690,000

731,034

742,099

Current assets

Stocks

123,670

160,856

Debtors

7

599,596

718,801

Cash at bank and in hand

222,002

158,131

945,268

1,037,788

Creditors

Amounts falling due within one year

8

1,159,375

1,371,619

Net current liabilities

(214,107

)

(333,831

)

Total assets less current liabilities

516,927

408,268

Creditors

Amounts falling due after more than one year

9

(139,167

)

-

Provisions for liabilities

(52,419

)

(54,197

)

Net assets

325,341

354,071

Capital and reserves

Called up share capital

12

100

100

Retained earnings

325,241

353,971

Shareholders' funds

325,341

354,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors on 30th December 2019 and were signed on its behalf by:

S P Ladell - Director

Mrs J M Ladell - Director

1.	Statutory information

SHL Maintenance 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs

in bringing stocks to their present location and condition.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 49 (2018 - 83 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st April 2018

and 31st March 2019

5,000

Amortisation

At 1st April 2018

and 31st March 2019

5,000

Net book value

At 31st March 2019

-

At 31st March 2018

-

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1st April 2018

20,698

33,462

70,345

82,291

206,796

Additions

-

-

-

5,521

5,521

At 31st March 2019

20,698

33,462

70,345

87,812

212,317

Depreciation

At 1st April 2018

12,028

17,444

60,981

64,244

154,697

Charge for year

1,734

2,403

2,341

10,108

16,586

At 31st March 2019

13,762

19,847

63,322

74,352

171,283

Net book value

At 31st March 2019

6,936

13,615

7,023

13,460

41,034

At 31st March 2018

8,670

16,018

9,364

18,047

52,099

6.	Investment property

Total

£

Fair value

At 1st April 2018

and 31st March 2019

690,000

Net book value

At 31st March 2019

690,000

At 31st March 2018

690,000

7.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

529,295

664,213

Other debtors

70,301

54,588

599,596

718,801

8.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

10,000

4,971

Trade creditors

492,230

539,325

Taxation and social security

236,851

246,746

Other creditors

420,294

580,577

1,159,375

1,371,619

9.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Bank loans

139,167

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

99,167

-

10.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

93,625

97,603

Between one and five years

48,166

69,121

141,791

166,724

11.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

149,167

-

Factor Liability

415,294

575,577

564,461

575,577

The bank loan is secured by a first legal charge over the investment property, and a guarantee from the

directors up to £40,000.

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

13.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st March 2019 and

31st March 2018:

2019

2018

£

£

S P Ladell and Mrs J M Ladell

Balance outstanding at start of year

34,493

251,031

Amounts advanced

235,119

74,960

Amounts repaid

(215,222

)

(291,498

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

54,390

34,493

Interest is charged on the director loan. The loan is to be repaid within 9 months of the year end.