Shelan Communications Limited Filleted accounts for Companies House (small and micro)

SHELAN COMMUNICATIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04338291

Shelan Communications Limited

Filleted Unaudited Financial Statements

31 December 2018

Shelan Communications Limited

Directors' Report

Year ended 31 December 2018

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2018 .

Directors

The directors who served the company during the year were as follows:

Mr M Middleton
Mrs F J Middleton

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 May 2019 and signed on behalf of the board by:

Mr M Middleton	Mrs F J Middleton
Director	Director

Registered office:

First Floor, CQL House

Alington Road

Little Barford

St. Neots

Cambs

United Kingdom

PE19 6YH

Shelan Communications Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		440,919	447,396

Current assets

Stocks		3,300	6,750
Debtors	6	20,538	43,985
Cash at bank and in hand		47,156	84,107
		--------	---------
		70,994	134,842

Creditors: amounts falling due within one year	7	32,001		50,816
		--------		---------
Net current assets			38,993	84,026
			---------	---------
Total assets less current liabilities			479,912	531,422

Creditors: amounts falling due after more than one year	8	( 98,443)	( 113,658)
		---------	---------
Net assets		381,469	417,764
		---------	---------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	76,552	76,552
Profit and loss account	304,915	341,210
	---------	---------
Shareholders funds	381,469	417,764
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Shelan Communications Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 17 May 2019 , and are signed on behalf of the board by:

Mr M Middleton	Mrs F J Middleton
Director	Director

Company registration number: 04338291

Shelan Communications Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, CQL House, Alington Road, Little Barford, St. Neots, Cambs, PE19 6YH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 4 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2018	433,798	21,043	523	19,795	34,022	509,181
Additions	–	2,117	–	–	508	2,625
	---------	--------	----	--------	--------	---------
At 31 Dec 2018	433,798	23,160	523	19,795	34,530	511,806
	---------	--------	----	--------	--------	---------
Depreciation
At 1 Jan 2018	–	16,383	226	18,840	26,336	61,785
Charge for the year	–	4,963	131	955	3,053	9,102
	---------	--------	----	--------	--------	---------
At 31 Dec 2018	–	21,346	357	19,795	29,389	70,887
	---------	--------	----	--------	--------	---------
Carrying amount
At 31 Dec 2018	433,798	1,814	166	–	5,141	440,919
	---------	--------	----	--------	--------	---------
At 31 Dec 2017	433,798	4,660	297	955	7,686	447,396
	---------	--------	----	--------	--------	---------

6. Debtors

	2018	2017
	£	£
Trade debtors	14,551	31,991
Directors loan account	1,441	6,908
Other debtors	4,546	5,086
	--------	--------
	20,538	43,985
	--------	--------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	13,800	12,209
Accruals and deferred income	4,250	4,780
Corporation tax	12,720	30,871
Social security and other taxes	1,231	2,956
	--------	--------
	32,001	50,816
	--------	--------

8. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Bank loans and overdrafts	98,443	113,658
	--------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr M Middleton	3,454	39,266	( 42,000)	720
Mrs F J Middleton	3,454	39,266	( 42,000)	720
	-------	--------	--------	-------
	6,908	78,532	( 84,000)	1,440
	-------	--------	--------	-------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr M Middleton	( 8,491)	66,445	( 54,500)	3,454
Mrs F J Middleton	( 8,491)	66,445	( 54,500)	3,454
	--------	---------	---------	-------
	( 16,982)	132,890	( 109,000)	6,908
	--------	---------	---------	-------