Shelby Project Solutions Limited 31/03/2020 iXBRL
Shelby Project Solutions Limited 31/03/2020 iXBRL
Company registration number:
9396896
Unaudited filleted financial statements
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
|
|
|
||
|
||
Company number |
|
|
Registered office |
|
|
|
||
|
||
|
||
|
||
Accountants |
|
|
105 Garstang Road | ||
Preston | ||
Lancs | ||
PR1 1LD | ||
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Shelby Project Solutions Limited
Year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shelby Project Solutions Limited for the year ended 31 March 2020 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of Shelby Project Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Shelby Project Solutions Limited and state those matters that we have agreed to state to the board of directors of Shelby Project Solutions Limited as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shelby Project Solutions Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Shelby Project Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shelby Project Solutions Limited. You consider that Shelby Project Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Shelby Project Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
105 Garstang Road
Preston
Lancs
PR1 1LD
Statement of financial position
31 March 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Debtors | 6 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 7 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current assets |
|
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Provisions for liabilities |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 May 2020
, and are signed on behalf of the board by:
Director
Director
Company registration number:
9396896
Notes to the financial statements
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Business Suite, 18 Breck Road, Poulton-le-Fylde, Lancs, FY6 7AA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment | - |
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2019:
8
).
5.
Tangible assets
Plant and equipment | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2019 |
|
|
|
Additions | 3,680 | 3,680 | |
_______ | _______ | ||
At 31 March 2020 |
|
|
|
_______ | _______ | ||
Depreciation | |||
At 1 April 2019 |
|
|
|
Charge for the year |
|
|
|
_______ | _______ | ||
At 31 March 2020 |
|
|
|
_______ | _______ | ||
Carrying amount | |||
At 31 March 2020 |
|
|
|
_______ | _______ | ||
At 31 March 2019 |
|
|
|
_______ | _______ | ||
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Corporation tax |
|
|
||
Social security and other taxes |
|
|
||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
2020 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
|
|
|
(
|
|
|
|
|
|
(
|
|
|
|
|
|
- |
|
|
_______ | _______ | _______ | _______ | ||
|
|
(
|
|
||
_______ | _______ | _______ | _______ | ||