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Logo On Report
Registered Number: 13582568
England and Wales

 

 

 

SHERWOOD BURGERS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 24 August 2021

End date: 31 August 2022
Director IBRAHIM SAYGILI
Registered Number 13582568
Registered Office 572 Mansfield Road
Sherwood
Nottingham
England
NG5 2FS
Accountants SMART ACCOUNTING AND CONSULTANCY LTD
RUTLAND HOUSE
23-25 FRIAR LANE
LEICESTER
LE1 5QQ
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 August 2022.
Directors
The directors who served the company throughout the period were as follows:
IBRAHIM SAYGILI (from 18/10/2021)
KEMAL ERUZ (from 24/08/2021 to 02/02/2022)
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
IBRAHIM SAYGILI
Director

Date approved: 13 September 2022
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
SMART ACCOUNTING AND CONSULTANCY LTD
31 August 2022



....................................................
SMART ACCOUNTING AND CONSULTANCY LTD
RUTLAND HOUSE
23-25 FRIAR LANE
LEICESTER
LE1 5QQ
13 September 2022
3
 
 
Notes
 
2022
£
Current assets    
Stocks 3 2,374 
Debtors 4 6,986 
Cash at bank and in hand 13,699 
23,059 
Creditors: amount falling due within one year 5 (20,138)
Net current assets 2,921 
 
Total assets less current liabilities 2,921 
Net assets 2,921 
 

Capital and reserves
   
Called up share capital 6 100 
Profit and loss account 2,821 
Shareholder's funds 2,921 
 


For the period ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 September 2022 and were signed on its behalf by:


--------------------------------
IBRAHIM SAYGILI
Director
4
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 24 August 2021
Profit for the period 2,821  2,821 
Total comprehensive income for the period 2,821  2,821 
Shares issued 100  100 
Total investments by and distributions to owners 100  100 
At 31 August 2022 100  2,821  2,921 
5
General Information
SHERWOOD BURGERS LTD is a private company, limited by shares, registered in England and Wales, registration number 13582568, registration address 572 Mansfield Road , Sherwood , Nottingham , England, NG5 2FS

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 4.
3.

Stocks

2022
£
Stocks 2,374 
2,374 

4.

Debtors: amounts falling due within one year

2022
£
Trade Debtors 6,986 
6,986 

5.

Creditors: amount falling due within one year

2022
£
Trade Creditors 5,378 
Corporation Tax 662 
VAT 14,098 
20,138 

6.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2022
£
100 Class A shares of £1.00 each 100 
100 

6