Company Registration No. SC167630 (Scotland)
SHREWS Limited
Unaudited accounts
for the year ended 28 February 2018
SHREWS Limited
Company Information
for the year ended 28 February 2018
Directors
M John Birchmore
James A Carruthers
Company Number
SC167630 (Scotland)
Registered Office
24 Lyne Park
West Linton
Peeblesshire
EH46 7HP
Accountants
Jean S Macnab LLB CA CTA
1 Medwyn Drive
West Linton
Peeblesshire
EH46 7HW
SHREWS Limited
Statement of financial position
as at 28 February 2018
Intangible assets
14,235
14,235
Cash at bank and in hand
1,390
1,063
Creditors: amounts falling due within one year
(180,561)
(175,050)
Net current liabilities
(177,683)
(172,372)
Net liabilities
(163,255)
(157,856)
Called up share capital
100
100
Profit and loss account
(163,355)
(157,956)
Shareholders' funds
(163,255)
(157,856)
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 29 November 2018.
M John Birchmore
Director
Company Registration No. SC167630
SHREWS Limited
Notes to the Accounts
for the year ended 28 February 2018
SHREWS Limited is a private company, limited by shares, registered in Scotland, registration number SC167630. The registered office is 24 Lyne Park, West Linton, Peeblesshire, EH46 7HP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the fair value of consultancy services provided.
Revenue from consulting is recognised when the service has been provided and all obligations to the customers under the consulting agreement have been fulfilled. For larger consulting projects containing several project milestones, revenue is recognised as each milestone is achieved or on a percentage of completion basis unless management has doubts as to the recoverability of fees.
Tangible fixed assets policy
Computer equipment is stated at cost less accumulated depreciation. Depreciation is charged to write off the cost, less estimated residual value, of each asset as follows :
Computer equipment - 33% straight line
Office furniture - 25% straight line
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.
A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.
SHREWS Limited
Notes to the Accounts
for the year ended 28 February 2018
4
Intangible fixed assets
Other
At 28 February 2018
14,235
At 28 February 2018
14,235
At 28 February 2017
14,235
The loan was advanced to First Malpils Power SIA, in which shares are held personally by the director J. Birchmore.
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2017
1,867
6,063
7,930
At 28 February 2018
1,867
6,063
7,930
At 1 March 2017
1,867
5,782
7,649
Charge for the year
-
88
88
At 28 February 2018
1,867
5,870
7,737
At 28 February 2018
-
193
193
At 28 February 2017
-
281
281
7
Creditors: amounts falling due within one year
2018
2017
Trade creditors
12,290
12,098
Loans from directors
168,271
162,952
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
SHREWS Limited
Notes to the Accounts
for the year ended 28 February 2018
9
Transactions with related parties
The company was under the control of the director, J Birchmore throughout the current and previous year.
The directors have advanced personal funds to meet the business expenses of the company. The amounts owing to the directors at 28 February 2018 are as follows :
J Birchmore £119,023
J Carruthers £49,248
The customers of the company in Latvia include First Malpils Power SIA and Riga International Business Park SIA, in which shares are held personally by the director J. Birchmore. In addition, a loan was advanced as detailed in Note 3.
10
Average number of employees
During the year the average number of employees was 0 (2017: 0).
