Classic Shaker Design Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11908036 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

CLASSIC SHAKER DESIGN LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

Mr D Hurtley

REGISTERED OFFICE:

95 King Street

Lancaster

LA1 1RH

REGISTERED NUMBER:

11908036 (England and Wales)

ACCOUNTANTS:

Taylor, Robertson & Willett Ltd

95 King Street

Lancaster

Lancashire

LA1 1RH

FIXED ASSETS

Intangible assets

4

6,000

7,000

Tangible assets

5

276,472

166,035

282,472

173,035

CURRENT ASSETS

Stocks

54,624

39,691

Debtors

6

5,645

2,652

Cash at bank

72,361

12,660

132,630

55,003

CREDITORS

Amounts falling due within one year

7

75,610

27,618

NET CURRENT ASSETS

57,020

27,385

TOTAL ASSETS LESS CURRENT LIABILITIES

339,492

200,420

CREDITORS

Amounts falling due after more than one year

8

(121,553

)

(66,375

)

PROVISIONS FOR LIABILITIES

(40,199

)

(21,238

)

NET ASSETS

177,740

112,807

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

177,640

112,707

177,740

112,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 November 2023 and were signed by:

Mr D Hurtley - Director

1.	STATUTORY INFORMATION

Classic Shaker Design Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

10,000

AMORTISATION

At 1 April 2022

3,000

Amortisation for year

1,000

At 31 March 2023

4,000

NET BOOK VALUE

At 31 March 2023

6,000

At 31 March 2022

7,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

137,618

15,944

29,580

2,725

185,867

Additions

114,686

-

31,491

-

146,177

At 31 March 2023

252,304

15,944

61,071

2,725

332,044

DEPRECIATION

At 1 April 2022

13,125

1,659

4,098

950

19,832

Charge for year

21,390

2,144

11,620

586

35,740

At 31 March 2023

34,515

3,803

15,718

1,536

55,572

NET BOOK VALUE

At 31 March 2023

217,789

12,141

45,353

1,189

276,472

At 31 March 2022

124,493

14,285

25,482

1,775

166,035

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2022

-

19,980

19,980

Additions

73,754

31,491

105,245

At 31 March 2023

73,754

51,471

125,225

DEPRECIATION

At 1 April 2022

-

2,498

2,498

Charge for year

1,383

9,620

11,003

At 31 March 2023

1,383

12,118

13,501

NET BOOK VALUE

At 31 March 2023

72,371

39,353

111,724

At 31 March 2022

-

17,482

17,482

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

1,629

Other debtors

5,645

1,023

5,645

2,652

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

13,726

13,726

Hire purchase contracts

26,818

4,741

Trade creditors

30,210

1,621

Taxation and social security

2,027

(1,702

)

Other creditors

2,829

9,232

75,610

27,618

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

39,896

53,134

Hire purchase contracts

81,657

13,241

121,553

66,375

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report is prepared solely for the confidential use of the directors and should not be relied upon by any third party without prior reference to ourselves.

Taylor, Robertson & Willett Ltd

95 King Street

Lancaster

Lancashire

LA1 1RH

9 November 2023