Shire Lofts Limited

Shire Lofts Limited

SHIRE LOFTS LIMITED - Company Information

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Company Registration No. 14118801 (England and Wales)
Shire Lofts Limited Unaudited accounts for the period from 19 May 2022 to 31 May 2023
Shire Lofts Limited Unaudited accounts Contents
Page
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Shire Lofts Limited Company Information for the period from 19 May 2022 to 31 May 2023
Director
Matthew Potton
Company Number
14118801 (England and Wales)
Registered Office
Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Shire Lofts Limited for the period from 19 May 2022 to 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Shire Lofts Limited for the period from 19 May 2022 to 31 May 2023 as set out on pages 5 - 7 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Shire Lofts Limited, as a body, in accordance with the terms of our engagement letter dated 27 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of Shire Lofts Limited and state those matters that we have agreed to state to the Board of Directors of Shire Lofts Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shire Lofts Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Shire Lofts Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Shire Lofts Limited. You consider that Shire Lofts Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Shire Lofts 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 accounts.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross EN8 7AN 19 February 2024
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Shire Lofts Limited Statement of financial position as at 31 May 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
4
3,400 
Current assets
Cash at bank and in hand
6,644 
Creditors: amounts falling due within one year
5
(20,621)
Net current liabilities
(13,977)
Net liabilities
(10,577)
Capital and reserves
Called up share capital
6
100 
Profit and loss account
(10,677)
Shareholders' funds
(10,577)
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 February 2024 and were signed on its behalf by
Matthew Potton Director Company Registration No. 14118801
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Shire Lofts Limited Notes to the Accounts for the period from 19 May 2022 to 31 May 2023
1
Statutory information
Shire Lofts Limited is a private company, limited by shares, registered in England and Wales, registration number 14118801. The registered office is Brindley Goldstein Ltd , 103 High Street, Waltham Cross, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
Commercial vehicles - 20% straight line basis
Going concern
The director, having considered the net liability position of the company and made due enquiries, continues to adopt the going concern basis in preparing the financial statements as he will support the company and believes the company will continue in operation for the foreseeable future.
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Shire Lofts Limited Notes to the Accounts for the period from 19 May 2022 to 31 May 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 19 May 2022
- 
Additions
4,250 
At 31 May 2023
4,250 
Depreciation
Charge for the period
850 
At 31 May 2023
850 
Net book value
At 31 May 2023
3,400 
5
Creditors: amounts falling due within one year
2023 
£ 
VAT
3,484 
Taxes and social security
16,981 
Loans from directors
156 
20,621 
6
Share capital
2023 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
7
Transactions with related parties
The company was under the control of Matthew Potton throughout the current period. Matthew Potton is personally interested in 100% of the company's share capital. Matthew Potton received a dividend from the company during the period of £80,750.
8
Average number of employees
During the period the average number of employees was 1.
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