Sheerwater Churches Limited
(Limited by Guarantee)
Registered number: 01181532
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,151,179 1,161,172
Net current assets - -
Net assets 1,151,179 1,161,172
Capital and reserves
Reserves 4 317,147 317,290
Profit and loss account 834,031 843,881
Reserves 1,151,178 1,161,171
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E. Street
Director
Approved by the board on 20 September 2023
Sheerwater Churches Limited
(Limited by Guarantee)
Notes to the Accounts
for the year ended 31 December 2022
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).
Tangible fixed assets
Tangible fixed assets are measured at cost or valuation less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Freehold Buildings 1% on cost
2 Employees 2022 2021
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2022 1,200,001 21,717 1,221,718
At 31 December 2022 1,200,001 21,717 1,221,718
Depreciation
At 1 January 2022 39,400 21,146 60,546
Charge for the year 9,850 143 9,993
At 31 December 2022 49,250 21,289 70,539
Net book value
At 31 December 2022 1,150,751 428 1,151,179
At 31 December 2021 1,160,601 571 1,161,172
Freehold land and buildings: 2022 2021
£ £
Historical cost 318,763 318,763
Cumulative depreciation based on historical cost 14,322 11,935
304,441 306,828
St Michaels Church and 288 Albert Drive were revalued at fair value at 31 December 2017 by Gibson Associates, Chartered Surveyors.
4 Other Reserves 2022 2021
Restricted Fund £ £
At 1 January 2022 317,290 317,480
Transfers (143) (190)
At 31 December 2022 317,147 317,290
The Restricted Fund is to meet the cost of purchasing and improving properties and other fixed assets.
5 Profit and loss account 2022 2021
£ £
At 1 January 2022 843,881 853,731
(Deficit)/surplus for the year (9,993) (10,040)
Transfer reserves 143 190
At 31 December 2022 834,031 843,881
6 Other information
Sheerwater Churches Limited is a company limited by guarantee and incorporated in England. Its registered office is:
St Michaels Shared Church
Dartmouth Avenue
Woking
Surrey
GU21 5PJ
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