Shelbourne, Letheby & Co. Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00416822 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2023

for

Shelbourne, Letheby & Co. Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T M Letheby

Ms W A Mason

SECRETARY:

Ms W A Mason

REGISTERED OFFICE:

154 New Kings Road

Fulham

London

SW6 4LZ

REGISTERED NUMBER:

00416822 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,409

4,535

CURRENT ASSETS

Stock and work in progress

-

2,676

Debtors

5

40,101

40,843

Cash at bank and in hand

993,549

946,018

1,033,650

989,537

CREDITORS

Amounts falling due within one year

6

85,163

90,061

NET CURRENT ASSETS

948,487

899,476

TOTAL ASSETS LESS CURRENT LIABILITIES

951,896

904,011

CAPITAL AND RESERVES

Called up share capital

42,000

42,000

Retained earnings

909,896

862,011

SHAREHOLDERS' FUNDS

951,896

904,011

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 January 2024 and were signed on its behalf by:

Mr T M Letheby - Director

1.	STATUTORY INFORMATION

Shelbourne, Letheby & Co. 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 represents net invoiced sales of goods and services, excluding value added tax.

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 etc

-

25% 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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 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.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2022

and 30 September 2023

66,853

DEPRECIATION

At 1 October 2022

62,318

Charge for year

1,126

At 30 September 2023

63,444

NET BOOK VALUE

At 30 September 2023

3,409

At 30 September 2022

4,535

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

38,199

38,980

Other debtors

1,902

1,863

40,101

40,843

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

9,861

11,870

Taxation and social security

16,466

21,537

Other creditors

58,836

56,654

85,163

90,061

7.	CONTINGENT LIABILITIES

The company has received claims for damages from ex-employees arising from their development of asbestos related diseases. The claimants were employed by the company between 1961 and 1962.

At this stage no liabilities have been accepted on the part of the company and no value has been placed on the amount of the claims.