Shrink and Stretch Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08795072 (England and Wales)

Unaudited Financial Statements

for the Period 1 December 2020 to 29 November 2021

for

Shrink and Stretch Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Clavell Bate

REGISTERED OFFICE:

Unit 35

Lomeshaye Business Village

Turner Road

Nelson

Lancashire

BB9 7DR

REGISTERED NUMBER:

08795072 (England and Wales)

ACCOUNTANTS:

Bennett Kirkhope Smith

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

6,178

3,952

CURRENT ASSETS

Stocks

16,000

16,000

Debtors

5

17,955

39,054

Cash at bank

2,394

11,908

36,349

66,962

CREDITORS

Amounts falling due within one year

6

92,002

69,720

NET CURRENT LIABILITIES

(55,653

)

(2,758

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(49,475

)

1,194

PROVISIONS FOR LIABILITIES

811

751

NET (LIABILITIES)/ASSETS

(50,286

)

443

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(50,386

)

343

(50,286

)

443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 20 April 2023 and were signed by:

A Clavell Bate - Director

1.	STATUTORY INFORMATION

Shrink and Stretch 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

-

15% 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 period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 period was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2020

6,909

Additions

3,207

At 29 November 2021

10,116

DEPRECIATION

At 1 December 2020

2,957

Charge for period

981

At 29 November 2021

3,938

NET BOOK VALUE

At 29 November 2021

6,178

At 30 November 2020

3,952

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.11.21

30.11.20

£

£

Trade debtors

7,648

29,592

Other debtors

4,171

4,171

S455 tax

1,298

1,298

Directors' current accounts

790

3,993

Tax

4,048

-

17,955

39,054

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.11.21

30.11.20

£

£

Trade creditors

5,179

9,822

Corporation tax

-

6,212

Social security and other taxes

23,169

12,504

VAT

59,000

35,912

Other creditors

1,406

-

Accrued expenses

3,248

5,270

92,002

69,720

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29 November 2021 and the year ended 30 November 2020:

29.11.21

30.11.20

£

£

A Clavell Bate

Balance outstanding at start of period

3,993

-

Amounts advanced

-

3,993

Amounts repaid

(3,203

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

790

3,993