Shrink Wrapping Supplies Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06879807 (England and Wales)

Shrink Wrapping Supplies Limited

Unaudited Financial Statements for the Year Ended 31 July 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Porter

Ms G Fielding

REGISTERED OFFICE:

Unit 4a Corporation Road

Audenshaw

Manchester

M34 5LR

REGISTERED NUMBER:

06879807 (England and Wales)

FIXED ASSETS

Tangible assets

4

7,764

10,353

CURRENT ASSETS

Stocks

5

590,858

476,500

Debtors

6

247,884

243,135

Cash at bank and in hand

8,114

6,036

846,856

725,671

CREDITORS

Amounts falling due within one year

7

676,008

620,791

NET CURRENT ASSETS

170,848

104,880

TOTAL ASSETS LESS CURRENT LIABILITIES

178,612

115,233

CREDITORS

Amounts falling due after more than one year

8

78,208

104,993

NET ASSETS

100,404

10,240

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

100,304

10,140

SHAREHOLDERS' FUNDS

100,404

10,240

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2024 and were signed on its behalf by:

C Porter - Director

1.	STATUTORY INFORMATION

Shrink Wrapping Supplies 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

23,380

DEPRECIATION

At 1 August 2022

13,027

Charge for year

2,589

At 31 July 2023

15,616

NET BOOK VALUE

At 31 July 2023

7,764

At 31 July 2022

10,353

5.

STOCKS

31.7.23

31.7.22

£

£

Stocks

590,858

476,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

92,470

148,019

Other debtors

155,116

95,116

Directors' current accounts

298

-

247,884

243,135

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade creditors

56,357

14,031

Tax

47,133

19,725

Social security and other taxes

(1,175

)

(1,330

)

VAT

127,243

46,467

Credit Card

23,422

-

Intercompany

421,028

539,341

Directors' current accounts

-

557

Accrued expenses

2,000

2,000

676,008

620,791

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans (see note 9)

78,208

104,993

9.

LOANS

An analysis of the maturity of loans is given below:

31.7.23

31.7.22

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

78,208

104,993

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 August 2022

10,140

Profit for the year

166,664

Dividends

(76,500

)

At 31 July 2023

100,304