Shire Textiles Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03972628 (England and Wales)

SHIRE TEXTILES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N S Jandu

S S Jandu

J S Jandu

SECRETARY:

Mrs R Jandu

REGISTERED OFFICE:

Unit 7, Wheler Road

Seven Stars Ind Estate

Coventry

West Midlands

CV3 4LJ

REGISTERED NUMBER:

03972628 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

CURRENT ASSETS

Stocks

1,750

2,000

Debtors

4

1,853,148

2,041,956

Cash at bank

8,067,412

7,095,218

9,922,310

9,139,174

CREDITORS

Amounts falling due within one year

5

993,238

949,750

NET CURRENT ASSETS

8,929,072

8,189,424

TOTAL ASSETS LESS CURRENT LIABILITIES

8,929,072

8,189,424

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,928,972

8,189,324

SHAREHOLDERS' FUNDS

8,929,072

8,189,424

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 February 2020 and were signed on its behalf by:

S S Jandu - Director

1.	STATUTORY INFORMATION

Shire Textiles 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.

Stocks

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

moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

1,739,678

1,903,832

Other debtors

113,470

138,124

1,853,148

2,041,956

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade creditors

941,455

897,967

Other creditors

51,783

51,783

993,238

949,750

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date £48,668 (2018: £48,668) was owed to Mr S S Jandu and £1,115 (2018: £1,115) owed

to Mr J S Jandu, the directors. The amounts are unsecured and interest free with no set terms for repayment.

7.	RELATED PARTY DISCLOSURES

During the year the company entered into various transactions in the ordinary course of business with Jandu

Developments Limited T/A J S Marketing, a company in which there are common directors who also have an

interest:

i. The company purchased goods amounting to £2,948,420 (2018: £4,799,723) from from Jandu Developments

Limited;

ii. The company was charged £50,000 (2018: £75,000) in respect of management and administrative services;

and

iii. The company was charged £10,000 (2018: £20,000) in respect of storage charges;

At the balance sheet date the company owed £929,696 (2018: £885,776) to Jandu Developments Ltd.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is S S Jandu.