Shelbourne, Letheby & Co. Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00416822 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

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)

ACCOUNTANTS:

Merchant & Co

Chartered Certified Accountants

20 Exhibition House

Addison Bridge Place

London

W14 8XP

FIXED ASSETS

Tangible assets

4

15,572

20,752

CURRENT ASSETS

Stock and work in progress

5

2,753

2,823

Debtors

6

30,641

47,159

Cash at bank and in hand

799,947

766,183

833,341

816,165

CREDITORS

Amounts falling due within one year

7

118,204

160,142

NET CURRENT ASSETS

715,137

656,023

TOTAL ASSETS LESS CURRENT LIABILITIES

730,709

676,775

PROVISIONS FOR LIABILITIES

-

24

NET ASSETS

730,709

676,751

CAPITAL AND RESERVES

Called up share capital

42,000

42,000

Retained earnings

688,709

634,751

SHAREHOLDERS' FUNDS

730,709

676,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 March 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

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 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2016

and 30 September 2017

18,866

15,842

30,688

65,396

DEPRECIATION

At 1 October 2016

18,138

15,835

10,671

44,644

Charge for year

174

2

5,004

5,180

At 30 September 2017

18,312

15,837

15,675

49,824

NET BOOK VALUE

At 30 September 2017

554

5

15,013

15,572

At 30 September 2016

728

7

20,017

20,752

5.	STOCK AND WORK IN PROGRESS

2017

2016

£

£

Raw materials and consumables

2,753

2,823

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

28,378

45,065

Other debtors

1,000

1,000

Deferred tax asset

255

-

Prepayments and accrued income

1,008

1,094

30,641

47,159

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation tax

12,479

1,600

Social security and other taxes

339

31,535

VAT

21,140

18,577

Other creditors

-

492

Directors' current accounts

13,280

64,320

Accruals and deferred income

70,966

43,618

118,204

160,142

8.	CONTINGENT LIABILITIES

The company has received a claim for damages from an ex-employee arising from their development of an

asbestos related disease. The claimant was employed by the company between 1961 and 1962.

At this stage no liability has been accepted on the part of the company and no value has been placed on the

amount of the claim.

9.	RELATED PARTY DISCLOSURES

For the whole year, the company was under the control of Mr T M Letheby, a director and the major

shareholder.

Hanwell Investment Company

A company in which Mr T M Letheby is a shareholder

Property maintenance and management services to the value of £9,861 (2016: £9,473) were received during

the year.

T C Properties Ltd

A company in which Mr T M Letheby is a shareholder

Property maintenance and management services to the value of £45,598 (2016: £47,353) were received during

the year.

2017

2016

£

£

Amount due from related party at the balance sheet date

484

12,707

W & J Properties (Ealing) Ltd

A company in which Mr T M Letheby is a shareholder

Property maintenance and management services to the value of £36,762 (2016: £27,749) were received during

the year.

2017

2016

£

£

Amount due from related party at the balance sheet date

12,583

9,000

W L & J M Properties Ltd

A company in which Mr T M Letheby is a shareholder

Property maintenance and management services to the value of £45,441 (2016: £53,758) were received during

the year.

2017

2016

£

£

Amount due from related party at the balance sheet date

1,242

16,534

Directors

2017

2016

£

£

Amount due to related party at the balance sheet date

13,330

64,320

10.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1st

January 2015.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.