REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30th June 2022 |
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for |
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JAMES W SHENTON LTD |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30th June 2022 |
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for |
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JAMES W SHENTON LTD |
JAMES W SHENTON LTD (REGISTERED NUMBER: 01232247) |
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Contents of the Financial Statements |
for the year ended 30th June 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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JAMES W SHENTON LTD |
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Company Information |
for the year ended 30th June 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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(The practising name of |
Baker (Midlands) Limited) |
3rd Floor |
International House |
Hatherton Street |
Walsall |
WS4 2LA |
JAMES W SHENTON LTD (REGISTERED NUMBER: 01232247) |
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Balance Sheet |
30th June 2022 |
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2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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JAMES W SHENTON LTD (REGISTERED NUMBER: 01232247) |
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Notes to the Financial Statements |
for the year ended 30th June 2022 |
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1. | STATUTORY INFORMATION |
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James W Shenton Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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The policy adopted for the recognition of turnover is as follows: |
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Sale of goods |
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the despatch of the goods. |
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Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from sales of services and commissions received are recognised in the accounting period in which the service was provided. When the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Depreciation is provided on all tangible assets , at rates calculated to write off the cost, less estimated residual value, of each asset on systematic basis over its useful life as follows: |
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Plant and machinery - 10-33% straight line |
Motor vehicles - 20% straight line |
JAMES W SHENTON LTD (REGISTERED NUMBER: 01232247) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Debtors and creditors payable/receivable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recoded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses. |
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Cash and cash equivalents |
Cash comprise cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that mature in no more than three months from the date of aquisition and that are readily convertible to known amounts of cash with an insignificant risk of change in value. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
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Impairment |
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is accrued at a revalued amount where the impairment loss is a revaluation decrease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 -
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JAMES W SHENTON LTD (REGISTERED NUMBER: 01232247) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2022 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Included in other debtors are prepayments of £Nil (2021: £Nil). |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Included in other creditors are accruals of £Nil (2021: £Nil). |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary shares | £1 | 20,000 | 20,000 |
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7. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary of Edison Holdings Ltd. There is no single controlling party of Edison Holdings Ltd. |