Shorelink (International) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03245593 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th September 2020

for

Shorelink (International) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

C Payne

A D Payne

SECRETARY:

A D Payne

REGISTERED OFFICE:

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

REGISTERED NUMBER:

03245593 (England and Wales)

ACCOUNTANTS:

Thickbroom Coventry Limited

Chartered Accountants

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shorelink (International) Limited for the year ended 30th September 2020 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Shorelink (International) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shorelink (International) Limited and state those matters that we have agreed to state to the Board of Directors of Shorelink (International) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shorelink (International) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Shorelink (International) 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 Shorelink (International) Limited. You consider that Shorelink (International) 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 Shorelink (International) 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.

Thickbroom Coventry Limited

Chartered Accountants

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

25th February 2021

FIXED ASSETS

Tangible assets

4

218,605

200,551

CURRENT ASSETS

Stocks

254,514

243,024

Debtors

5

300,978

288,371

Cash at bank and in hand

176,184

43,116

731,676

574,511

CREDITORS

Amounts falling due within one year

6

521,535

412,055

NET CURRENT ASSETS

210,141

162,456

TOTAL ASSETS LESS CURRENT LIABILITIES

428,746

363,007

CREDITORS

Amounts falling due after more than one year

7

(23,779

)

-

PROVISIONS FOR LIABILITIES

(39,508

)

-

NET ASSETS

365,459

363,007

CAPITAL AND RESERVES

Called up share capital

8

211,369

211,369

Revaluation reserve

9

134,722

134,722

Retained earnings

19,368

16,916

SHAREHOLDERS' FUNDS

365,459

363,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2020 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 and authorised for issue on 25th February 2021 and were signed on its behalf by:

A D Payne - Director

C Payne - Director

1.	STATUTORY INFORMATION

Shorelink (International) 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.

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.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

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 statement of financial position date.

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 NIL (2019 - 10 ).

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1st October 2019

20,743

639,065

50,334

710,142

Additions

-

17,929

28,500

46,429

Disposals

-

-

(32,287

)

(32,287

)

At 30th September 2020

20,743

656,994

46,547

724,284

DEPRECIATION

At 1st October 2019

20,743

448,877

39,971

509,591

Charge for year

-

22,533

3,091

25,624

Eliminated on disposal

-

-

(29,536

)

(29,536

)

At 30th September 2020

20,743

471,410

13,526

505,679

NET BOOK VALUE

At 30th September 2020

-

185,584

33,021

218,605

At 30th September 2019

-

190,188

10,363

200,551

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

298,129

254,524

Other debtors

2,849

33,847

300,978

288,371

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

3,024

5,174

Finance leases

15,292

3,789

Trade creditors

472,844

389,612

Taxation and social security

16,124

5,985

Other creditors

14,251

7,495

521,535

412,055

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Finance leases

23,779

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

211,369

Ordinary

£1

211,369

211,369

9.

RESERVES

Revaluation

reserve

£

At 1st October 2019

and 30th September 2020

134,722