Shropshire Shutters Limited - Period Ending 2020-03-31

Shropshire Shutters Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 5

Shropshire Shutters Limited

Balance Sheet

31 March 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	39,470	22,598
Cash at bank and in hand		1,716	1,706
		41,186	24,304
Creditors: Amounts falling due within one year	5	(4,899)	(30,005)
Net assets/(liabilities)		36,287	(5,701)
Capital and reserves
Called up share capital		100	100
Profit and loss account		36,187	(5,801)
Total equity		36,287	(5,701)

Shropshire Shutters Limited

Balance Sheet

31 March 2020

For the financial year ending 31 March 2020 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 year in question in accordance with section 476; and
•	The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 December 2020
 

......................................... C P Rocker Director

Company Registration Number: 10237928

Shropshire Shutters Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2020

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:
59 Southbourne Grove
Bournemouth
Dorset
BH6 3QU

These financial statements were authorised for issue by the director on 17 December 2020.

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.

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.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Shropshire Shutters Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2020

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2019 - 0).

4

Debtors

	2020 £	2019 £
Trade debtors	3,500	9,182
Other debtors	35,970	13,416
	39,470	22,598

Shropshire Shutters Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2020

5

Creditors

Creditors: amounts falling due within one year

	2020 £	2019  £
Due within one year
Trade creditors	-	2,633
Amounts due to group undertakings	850	7,969
Corporation tax	1,770	6,547
Social security and other taxes	989	10,456
Accrued expenses	1,290	2,400
	4,899	30,005

6	Related party transactions

Advances to directors

2020	At 1 April 2019 £	Advances to director £	Repayments by director £	At 31 March 2020 £
C P Rocker
Director's loan account	(11,616)	(24,353)	-	(35,969)

2019	At 1 April 2018 £	Advances to director £	Repayments by director £	At 31 March 2019 £
C P Rocker
Director's loan account	48	(51,480)	39,816	(11,616)