Company Registration No. 04955952 (England and Wales)
SHIRLAWS (UK) NO 10 LIMITED
DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
SHIRLAWS (UK) NO 10 LIMITED
COMPANY INFORMATION
Director
Mr D J Shirlaw
Company number
04955952
Registered office
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Accountants
Bryden Johnson
Kings Parade
Lower Coombe Street
Croydon
CR0 1AA
Business address
16 Morley Road
East Twickenham
London
United Kingdom
TW1 2HF
SHIRLAWS (UK) NO 10 LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 8
SHIRLAWS (UK) NO 10 LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
The director presents his report and financial statements for the year ended 31 March 2016.
Director
The following director has held office since 1 April 2015:
Mr D J Shirlaw
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Mr D J Shirlaw
Director
16 December 2016
SHIRLAWS (UK) NO 10 LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHIRLAWS (UK) NO 10 LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shirlaws (UK) No 10 Limited for the year ended 31 March 2016 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Shirlaws (UK) No 10 Limited, as a body, in accordance with the terms of our engagement letter dated 26 November 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Shirlaws (UK) No 10 Limited and state those matters that we have agreed to state to the Board of Directors of Shirlaws (UK) No 10 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shirlaws (UK) No 10 Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Shirlaws (UK) No 10 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 Shirlaws (UK) No 10 Limited. You consider that Shirlaws (UK) No 10 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 Shirlaws (UK) No 10 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.
Bryden Johnson
19 December 2016
Chartered Accountants
Kings Parade
Lower Coombe Street
Croydon
CR0 1AA
SHIRLAWS (UK) NO 10 LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2016
2015
Notes
£
£
Turnover
1,273,823
1,449,702
Cost of sales
(1,009,696)
(1,111,819)
Gross profit
264,127
337,883
Administrative expenses
(149,281)
(238,808)
Operating profit
2
114,846
99,075
Other interest receivable and similar income
3
28
91
Profit on ordinary activities before taxation
114,874
99,166
Tax on profit on ordinary activities
4
(24,303)
(20,925)
Profit for the year
10
90,571
78,241
SHIRLAWS (UK) NO 10 LIMITED
BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 4 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
6
1,879
2,368
Current assets
Debtors
7
528,292
585,031
Cash at bank and in hand
188,175
151,097
716,467
736,128
Creditors: amounts falling due within one year
8
(457,218)
(510,739)
Net current assets
259,249
225,389
Total assets less current liabilities
261,128
227,757
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
10
261,028
227,657
Shareholders' funds
261,128
227,757
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the Board for issue on 16 December 2016
Mr D J Shirlaw
Director
Company Registration No. 04955952
SHIRLAWS (UK) NO 10 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
- 5 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% straight line
2
Operating profit
2016
2015
£
£
Operating profit is stated after charging:
Depreciation of tangible assets
1,210
3,761
Director's remuneration
12,000
12,000
3
Investment income
2016
2015
£
£
Bank interest
28
91
28
91
4
Taxation
2016
2015
£
£
Domestic current year tax
U.K. corporation tax
24,303
20,925
Total current tax
24,303
20,925
5
Dividends
2016
2015
£
£
Ordinary interim paid
57,200
47,200
SHIRLAWS (UK) NO 10 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 6 -
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2015
27,544
Additions
721
At 31 March 2016
28,265
Depreciation
At 1 April 2015
25,176
Charge for the year
1,210
At 31 March 2016
26,386
Net book value
At 31 March 2016
1,879
At 31 March 2015
2,368
7
Debtors
2016
2015
£
£
Trade debtors
462,395
563,355
Other debtors
65,897
21,676
528,292
585,031
8
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
368,272
451,541
Taxation and social security
31,495
41,539
Other creditors
57,451
17,659
457,218
510,739
SHIRLAWS (UK) NO 10 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 7 -
9
Share capital
2016
2015
£
£
Allotted, called up and fully paid
90 Ordinary Shares of £1 each
90
90
10 Ordinary A Shares of £1 each
10
10
100
100
10
Statement of movements on profit and loss account
Profit
and loss
account
£
Balance at 1 April 2015
227,657
Profit for the year
90,571
Dividends paid
(57,200)
Balance at 31 March 2016
261,028
11
Financial commitments
At 31 March 2016 the company was committed to making the following payments under non-cancellable operating leases in the year to 31 March 2017:
2016
2015
£
£
Operating leases which expire:
Between two and five years
14,400
14,400
12
Control
The director, D J Shirlaw is the ultimate controlling party.
SHIRLAWS (UK) NO 10 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 8 -
13
Related party relationships and transactions
The following director had
an
interest free loan during the year. The movement on the loan
is
as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr D J Shirlaw - Int free
-
7,261
-
-
7,261
-
7,261
-
-
7,261
-
Dividend to Director
The following director w
as
paid dividends during the year as outlined in the table below:
2016
2015
£
£
Mr D J Shirlaw
40,000
30,000
40,000
30,000
2016-03-31
2015-04-01
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