Stuart Shuttleworth Decorators Limited 31/12/2022 iXBRL

Stuart Shuttleworth Decorators Limited 31/12/2022 iXBRL

STUART SHUTTLEWORTH DECORATORS LIMITED - Company Information

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6 31/12/2022 2022-12-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 4978348 2022-01-01 2022-12-31 4978348 2022-12-31 4978348 2021-12-31 4978348 2021-01-01 2021-12-31 4978348 2021-12-31 4978348 core:NetGoodwill 2022-01-01 2022-12-31 4978348 core:PlantMachinery 2022-01-01 2022-12-31 4978348 core:FurnitureFittingsToolsEquipment 2022-01-01 2022-12-31 4978348 core:MotorVehicles 2022-01-01 2022-12-31 4978348 bus:Director1 2022-01-01 2022-12-31 4978348 core:NetGoodwill 2022-12-31 4978348 core:PlantMachinery 2021-12-31 4978348 core:FurnitureFittingsToolsEquipment 2021-12-31 4978348 core:MotorVehicles 2021-12-31 4978348 core:PlantMachinery 2022-12-31 4978348 core:FurnitureFittingsToolsEquipment 2022-12-31 4978348 core:MotorVehicles 2022-12-31 4978348 core:WithinOneYear 2022-12-31 4978348 core:WithinOneYear 2021-12-31 4978348 core:ShareCapital 2022-12-31 4978348 core:ShareCapital 2021-12-31 4978348 core:RetainedEarningsAccumulatedLosses 2022-12-31 4978348 core:RetainedEarningsAccumulatedLosses 2021-12-31 4978348 core:NetGoodwill 2021-12-31 4978348 core:PlantMachinery 2021-12-31 4978348 core:FurnitureFittingsToolsEquipment 2021-12-31 4978348 core:MotorVehicles 2021-12-31 4978348 bus:SmallEntities 2022-01-01 2022-12-31 4978348 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 4978348 bus:FullAccounts 2022-01-01 2022-12-31 4978348 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 4978348 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
Company registration number: 4978348
Stuart Shuttleworth Decorators Limited
Unaudited filleted financial statements
31 December 2022
Stuart Shuttleworth Decorators Limited
Contents
Statement of financial position
Notes to the financial statements
Stuart Shuttleworth Decorators Limited
Statement of financial position
31 December 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 16,017 2,937
_______ _______
16,017 2,937
Current assets
Stocks 195 235
Debtors 7 26,724 23,395
Cash at bank and in hand 21,583 24,342
_______ _______
48,502 47,972
Creditors: amounts falling due
within one year 8 ( 38,465) ( 24,937)
_______ _______
Net current assets 10,037 23,035
_______ _______
Total assets less current liabilities 26,054 25,972
Provisions for liabilities ( 3,186) ( 570)
_______ _______
Net assets 22,868 25,402
_______ _______
Capital and reserves
Called up share capital 12 12
Profit and loss account 22,856 25,390
_______ _______
Shareholders funds 22,868 25,402
_______ _______
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2023 , and are signed on behalf of the board by:
Mr JS Shuttleworth
Director
Company registration number: 4978348
Stuart Shuttleworth Decorators Limited
Notes to the financial statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is H & M Ltd, The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 machinery - 15 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 25 % reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2021: 6 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2022 and 31 December 2022 20,000 20,000
_______ _______
Amortisation
At 1 January 2022 and 31 December 2022 20,000 20,000
_______ _______
Carrying amount
At 31 December 2022 - -
_______ _______
At 31 December 2021 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 6,801 356 9,000 16,157
Additions 177 - 16,999 17,176
_______ _______ _______ _______
At 31 December 2022 6,978 356 25,999 33,333
_______ _______ _______ _______
Depreciation
At 1 January 2022 4,944 277 7,999 13,220
Charge for the year 297 8 3,791 4,096
_______ _______ _______ _______
At 31 December 2022 5,241 285 11,790 17,316
_______ _______ _______ _______
Carrying amount
At 31 December 2022 1,737 71 14,209 16,017
_______ _______ _______ _______
At 31 December 2021 1,857 79 1,001 2,937
_______ _______ _______ _______
7. Debtors
2022 2021
£ £
Trade debtors 26,724 23,395
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 917 1,332
Corporation tax 6,818 7,520
Social security and other taxes 1,488 2,707
Other creditors 29,242 13,378
_______ _______
38,465 24,937
_______ _______