| SHS Homes Limited |
| Notes to the Accounts |
| for the year ended 31 December 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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|
| 2 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Corporation tax |
880 |
|
2,241 |
|
Other creditors |
107,993 |
|
108,196 |
|
|
|
|
|
|
108,873 |
|
110,437 |
|
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|
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| 3 |
Other information |
|
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SHS Homes Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
14 Whitwell Close |
|
Great Sankey |
|
Warrington |
|
WA5 3HW |
|
| 4 |
Ultimate controlling party |
|
The company is under the control of the directors. |
|
At the balance sheet date the directors were owed £37,214 (2018 £37,417) by the company |
