Company Registration No. 08886529 (England and Wales)
SHAYS ASSETS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2022
31 March 2022
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SHAYS ASSETS LIMITED
COMPANY INFORMATION
Director
Mr R A Hall
Company number
08886529
Registered office
Shays Farm
Tosside
Skipton
North Yorkshire
BD23 4SY
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SHAYS ASSETS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SHAYS ASSETS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
161
161
Current assets
Debtors
4
777,990
1,749,557
Cash at bank and in hand
1,607,776
232,937
2,385,766
1,982,494
Creditors: amounts falling due within one year
5
(68,334)
(4,145)
Net current assets
2,317,432
1,978,349
Net assets
2,317,593
1,978,510
Capital and reserves
Called up share capital
645,100
545,100
Profit and loss reserves
1,672,493
1,433,410
Total equity
2,317,593
1,978,510
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 December 2022
Mr R A Hall
Director
Company Registration No. 08886529
SHAYS ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Shays Assets Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Shays Farm, Tosside, Skipton, North Yorkshire, BD23 4SY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Preparation of consolidated financial statements
The financial statements contain information about Shays Assets Limited as an individual company and
do not contain consolidated financial information as the parent of a group. The company is exempt
under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated
financial statements.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other taxes.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.4
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
SHAYS ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
161
161
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
747,154
1,746,529
Other debtors
30,836
3,028
777,990
1,749,557
5
Creditors: amounts falling due within one year
2022
2021
£
£
Taxation and social security
40,882
1,865
Other creditors
27,452
2,280
68,334
4,145
6
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
3,028
1,500
(4,528)
-
3,028
1,500
(4,528)
-