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REGISTERED NUMBER: 04771871 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2017

for

Shopright Limited

Shopright Limited (Registered number: 04771871)






Contents of the Financial Statements
for the Year Ended 31 July 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Shopright Limited

Company Information
for the Year Ended 31 July 2017







DIRECTORS: Mr D W Beswick
Miss H Y Holmes



SECRETARY: Miss H Y Holmes



REGISTERED OFFICE: 6-8 Garfield Terrace
Leeman Road
York
YO26 4XU



REGISTERED NUMBER: 04771871 (England and Wales)



ACCOUNTANTS: Parker Hartley & Co
Incorporated Financial Accountants
2 Waverley Street
The Groves
York
YO31 7QZ



BANKERS: National Westminster Bank Plc
1 Market Street
York
YO1 8SR

Shopright Limited (Registered number: 04771871)

Balance Sheet
31 July 2017

31/7/17 31/7/16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,998 45,498
Tangible assets 5 18,897 22,943
57,895 68,441

CURRENT ASSETS
Stocks 6 37,045 43,295
Debtors 7 3,438 766
Cash at bank and in hand 7,748 14,183
48,231 58,244
CREDITORS
Amounts falling due within one year 8 65,948 76,975
NET CURRENT LIABILITIES (17,717 ) (18,731 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,178

49,710

CREDITORS
Amounts falling due after more than one
year

9

(17,000

)

(27,407

)

PROVISIONS FOR LIABILITIES (3,418 ) (4,148 )
NET ASSETS 19,760 18,155

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 19,660 18,055
SHAREHOLDERS' FUNDS 19,760 18,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 January 2018 and were signed on its behalf by:




Mr D W Beswick - Director


Shopright Limited (Registered number: 04771871)

Notes to the Financial Statements
for the Year Ended 31 July 2017

1. STATUTORY INFORMATION

Shopright Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Turnover represents net invoiced sales of services and goods, excluding value added taxation.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised
evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Office equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially
recorded at cost and thereafter at fair value with charges being recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal
of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Shopright Limited (Registered number: 04771871)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2016
and 31 July 2017 129,999
AMORTISATION
At 1 August 2016 84,501
Amortisation for year 6,500
At 31 July 2017 91,001
NET BOOK VALUE
At 31 July 2017 38,998
At 31 July 2016 45,498

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2016
and 31 July 2017 21,337 43,743 7,778 72,858
DEPRECIATION
At 1 August 2016 18,759 24,089 7,067 49,915
Charge for year 387 2,948 711 4,046
At 31 July 2017 19,146 27,037 7,778 53,961
NET BOOK VALUE
At 31 July 2017 2,191 16,706 - 18,897
At 31 July 2016 2,578 19,654 711 22,943

6. STOCKS
31/7/17 31/7/16
£    £   
Stocks 37,045 43,295

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/17 31/7/16
£    £   
Other debtors 771 500
Prepayments 2,667 266
3,438 766

Shopright Limited (Registered number: 04771871)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/17 31/7/16
£    £   
Bank loans and overdrafts 10,393 9,933
Trade creditors 37,050 42,028
Corporation Tax 13,214 963
VAT - 2,692
Directors' current accounts 2,596 11,101
Accrued expenses 2,695 10,258
65,948 76,975

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/17 31/7/16
£    £   
Bank loans - 1-2 years 17,000 27,407

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2017 and
31 July 2016:

31/7/17 31/7/16
£    £   
Mr D W Beswick and Miss H Y Holmes
Balance outstanding at start of year 11,101 23,524
Amounts advanced 49,000 -
Amounts repaid (57,505 ) (12,423 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,596 11,101

The directors have given personal guarantees to the bank of £35,000 (2016 £35,000).

The bank also has assigned to it, as security for borrowings, policies of life assurance over the directors.

11. ULTIMATE CONTROLLING PARTY

The Company is under the control of Mr DW Beswick and Miss HY Holmes who own 100% of the issued share
capital.

12. FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting Standard
102 section 1A (FRS 102 section 1A) issued by the Financial Reporting Council.
The following disclosures are required in the year of transition.
The last financial statements under previous UK GAAP were for the year ended 31 July 2016 and the date of
transition to FRS 102 section 1A was therefore 1 August 2015. As a consequence of adopting FRS 102 section
1A no changes were required.

The Reconciliation of Equity and the Reconciliation of Profit reports have been prepared and no adjustments
were required as a result of the transition from UK GAAP to FRS 102. As a result it has been deemed not
required to state the full reports in the financial statements.