Shanleys Limited,Ltd - AccountsLtd - Accounts

Shanleys Limited,Ltd - AccountsLtd - Accounts

SHANLEYS LIMITED - Company Information

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2016-10-01 01225866 2017-09-30 01225866 2016-10-01 2017-09-30 01225866 2016-09-30 01225866 2015-10-01 2016-09-30 01225866 uk-core:WithinOneYear 2016-09-30 01225866 uk-core:WithinOneYear 2017-09-30 01225866 uk-core:AfterOneYear 2016-09-30 01225866 uk-core:AfterOneYear 2017-09-30 01225866 uk-core:ShareCapital 2017-09-30 01225866 uk-core:ShareCapital 2016-09-30 01225866 uk-core:RetainedEarningsAccumulatedLosses 2017-09-30 01225866 uk-core:RetainedEarningsAccumulatedLosses 2016-09-30 01225866 uk-bus:Director1 2016-10-01 2017-09-30 01225866 uk-core:Buildings 2016-10-01 2017-09-30 01225866 uk-core:PlantMachinery 2016-10-01 2017-09-30 01225866 uk-core:ToolsEquipment 2016-10-01 2017-09-30 01225866 uk-core:MotorCars 2016-10-01 2017-09-30 01225866 uk-core:FurnitureFittings 2016-10-01 2017-09-30 01225866 uk-core:ToolsEquipment 2016-09-30 01225866 uk-core:FurnitureFittings 2016-09-30 01225866 uk-core:MotorCars 2016-09-30 01225866 uk-core:PlantMachinery 2016-09-30 01225866 uk-core:Buildings 2016-09-30 01225866 uk-core:Buildings 2017-09-30 01225866 uk-core:MotorCars 2017-09-30 01225866 uk-core:FurnitureFittings 2017-09-30 01225866 uk-core:ToolsEquipment 2017-09-30 01225866 uk-core:PlantMachinery 2017-09-30 01225866 uk-core:WithinOneYear 2016-10-01 2017-09-30 iso4217:GBP 01225866 uk-bus:AuditExemptWithAccountantsReport 2016-10-01 2017-09-30 01225866 uk-bus:FRS102 2016-10-01 2017-09-30 01225866 uk-bus:FullAccounts 2016-10-01 2017-09-30 01225866 uk-bus:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30
Shanleys Limited
Registered Number:01225866
For the year ended 30 September 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2017
Shanleys Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 30 September 2017
Shanleys Limited
Statement of Financial Position
Registered Number :
01225866
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
727,445
844,881
2
727,445
844,881
Current assets
Inventories
8,697
4,318
3
Trade and other receivables
339,152
322,685
4
51,817
Cash and cash equivalents
43,411
370,414
399,666
Trade and other payables: amounts falling due within one
year
(434,856)
(376,842)
5
(35,190)
(6,428)
Net current liabilities
Total assets less current liabilities
721,017
809,691
Trade and other payables: amounts falling due after more
than one year
(17,000)
(14,501)
6
(128,413)
(157,763)
Provisions for liabilities
578,103
Net assets
634,928
Capital and reserves
Called up share capital
30,000
30,000
Retained earnings
548,103
604,928
578,103
634,928
Shareholders' funds
For the year ended 30 September 2017 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 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 proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
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4
For the year ended 30 September 2017
Shanleys Limited
Statement of Financial Position Continued
H S Kandola Director
These financial statements were approved and authorised for issue by the Board on 19 June 2018 and were signed by:
The notes form part of these financial statements
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5
For the year ended 30 September 2017
Shanleys Limited
Notes to the Financial Statements
Statutory Information
Shanleys Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 01225866.
Registered address:
Units 38-39
Britannia Way
Bolton
Lancashire
BL2 2HH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention
as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
10 years Straight line
Plant and machinery
13 years Straight line
3 or 7 years Straight line
Computer equipment
4 years Reducing balance
Motor vehicles
5 years Reducing balance
Fixtures and fittings
Inventories
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 30 September 2017
Shanleys Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
£
£
Cost or
valuation
At 01 October
2016
2,101,619
6,190
41,848
47,531
1,661,734
344,316
11,833
-
2,833
-
9,000
-
Additions
At 30 September
2017
344,316
47,531
44,681
6,190
2,113,452
1,670,734
Provision for depreciation and impairment
At 01 October
2016
1,256,738
5,527
33,531
34,470
913,130
270,080
Charge for year
129,269
663
2,186
3,265
88,722
34,433
At 30 September
2017
1,386,007
6,190
35,717
37,735
1,001,852
304,513
At 30 September
2017
Net book value
39,803
668,882
9,796
8,964
-
727,445
74,236
748,604
13,061
8,317
663
844,881
At 30 September
2016
3. Inventories
2016
2017
£
£
Stocks
4,318
8,697
4. Trade and other receivables
2016
2017
£
£
Trade debtors
304,805
322,703
Other debtors
17,880
16,449
339,152
322,685
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7
For the year ended 30 September 2017
Shanleys Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
167,109
177,210
Taxation and social security
24,619
45,099
Other creditors
185,114
212,547
376,842
434,856
Included in Other Creditors is a balance of £158,574 (2016: £180,379) owing to The Royal Bank of Scotland in respect of an Invoice Discounting arrangement. The contract is a rolling one whereby either party has to give a minimum of six months if they wish to terminate it.
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
14,501
17,000
7. Related party transactions
Mr J A Cropper, a director owns 50% of the issued share capital of the company. In addition he is a trustee of
the Margaret Cropper Trust which holds the other 50% of the share capital.
The company operates from premises owned by Mr J A Cropper's Self Invested Personal Pension Scheme,
during the year a market rental of £100,000 (2016: £100,000) was paid by the company.
The ultimate controlling party throughout the current and previous year is J A Cropper by virtue of his
shareholdings.
8. Guarantees and other financial commitments
Lease commitments
At the year end the company has obligations under operating lease commitments in respect of plant &
machinery amounting to £115,956.
9. Average number of persons employed
During the year the average number of employees was 13 (2016 : 14)
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