Shipley Loans Limited - Abbreviated accounts 16.3

Shipley Loans Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: 07470041















SHIPLEY LOANS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016






SHIPLEY LOANS LIMITED (REGISTERED NUMBER: 07470041)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Chartered Certified Accountants' Report 5

SHIPLEY LOANS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2016







DIRECTORS: H J Shipley Snr
W Shipley
H J Shipley Jnr
L A Shipley
G Shipley





REGISTERED OFFICE: National House
Etchell Road
Tamworth
Staffordshire
B78 3HF





REGISTERED NUMBER: 07470041





ACCOUNTANTS: Phoenix Business Associates Limited
Chartered Certified Accountants
The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW

SHIPLEY LOANS LIMITED (REGISTERED NUMBER: 07470041)

ABBREVIATED BALANCE SHEET
31 March 2016

31/3/16 31/3/15
Notes £    £   
CURRENT ASSETS
Debtors 2 10,193,462 11,597,826
Cash at bank 2,236,408 510,164
12,429,870 12,107,990
CREDITORS
Amounts falling due within one year 384,963 398,373
NET CURRENT ASSETS 12,044,907 11,709,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,044,907

11,709,617

CREDITORS
Amounts falling due after more than one
year

3

10,690,000

10,690,000
NET ASSETS 1,354,907 1,019,617

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 1,354,807 1,019,517
SHAREHOLDERS' FUNDS 1,354,907 1,019,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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.

SHIPLEY LOANS LIMITED (REGISTERED NUMBER: 07470041)

ABBREVIATED BALANCE SHEET - continued
31 March 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 14 October 2016 and were signed on its
behalf by:





H J Shipley Snr - Director


SHIPLEY LOANS LIMITED (REGISTERED NUMBER: 07470041)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 31 March 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with
the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents income derived from the company's principal activity of making commercial loans.

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

2. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 10,193,462 (31/3/15 - £
11,597,826 )

3. CREDITORS

Creditors include the following debts falling due in more than five years:

31/3/16 31/3/15
£    £   
Repayable otherwise than by instalments 10,690,000 10,690,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/16 31/3/15
value: £    £   
10,690,000 'A' Preference £1 10,690,000 10,690,000

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/16 31/3/15
value: £    £   
100 Ordinary £1 100 100

The directors have restated the preference shares as debt as it is the members right to request repayment
at any time.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SHIPLEY LOANS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages
two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Shipley Loans Limited for the year ended 31 March 2016 which comprise the Profit and
Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Shipley Loans Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shipley Loans Limited and state those matters that we have agreed to state to the Board of Directors of Shipley Loans Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Shipley Loans Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shipley Loans Limited. You consider that Shipley Loans Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shipley Loans 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 financial statements.






Phoenix Business Associates Limited
Chartered Certified Accountants
The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW


14 October 2016