Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity43falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08521199 2022-04-01 2023-03-31 08521199 2021-04-01 2022-03-31 08521199 2023-03-31 08521199 2022-03-31 08521199 c:Director1 2022-04-01 2023-03-31 08521199 c:Director2 2022-04-01 2023-03-31 08521199 c:RegisteredOffice 2022-04-01 2023-03-31 08521199 d:FurnitureFittings 2022-04-01 2023-03-31 08521199 d:FurnitureFittings 2023-03-31 08521199 d:FurnitureFittings 2022-03-31 08521199 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08521199 d:Goodwill 2022-04-01 2023-03-31 08521199 d:Goodwill 2023-03-31 08521199 d:Goodwill 2022-03-31 08521199 d:CurrentFinancialInstruments 2023-03-31 08521199 d:CurrentFinancialInstruments 2022-03-31 08521199 d:Non-currentFinancialInstruments 2023-03-31 08521199 d:Non-currentFinancialInstruments 2022-03-31 08521199 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08521199 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08521199 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08521199 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08521199 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08521199 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 08521199 d:ShareCapital 2023-03-31 08521199 d:ShareCapital 2022-03-31 08521199 d:RetainedEarningsAccumulatedLosses 2023-03-31 08521199 d:RetainedEarningsAccumulatedLosses 2022-03-31 08521199 c:FRS102 2022-04-01 2023-03-31 08521199 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08521199 c:FullAccounts 2022-04-01 2023-03-31 08521199 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08521199 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 08521199







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


SHEEPFOLD LIMITED






































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SHEEPFOLD LIMITED
 


 
COMPANY INFORMATION


Directors
G M Faulkner 
D P Faulkner 




Registered number
08521199



Registered office
Cavendish House
Littlewood Court

West 26 Industrial Estate

Cleckheaton

West Yorkshire

BD19 4TE




Trading Address
Silverdene
South Drive

Dorking

Surrey

RH5 4AG






Accountants
Menzies LLP
Chartered Accountants

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF





 


SHEEPFOLD LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


SHEEPFOLD LIMITED
REGISTERED NUMBER:08521199



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
163,937
208,376

Tangible assets
 5 
21,742
26,995

  
185,679
235,371

Current assets
  

Debtors: amounts falling due within one year
 6 
3,739
-

Cash at bank and in hand
  
6,520
48,681

  
10,259
48,681

Creditors: amounts falling due within one year
 7 
(131,106)
(155,671)

Net current liabilities
  
 
 
(120,847)
 
 
(106,990)

Total assets less current liabilities
  
64,832
128,381

Creditors: amounts falling due after more than one year
 8 
(15,133)
(81,287)

  

Net assets
  
49,699
47,094


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
49,697
47,092

  
49,699
47,094


Page 1

 


SHEEPFOLD LIMITED
REGISTERED NUMBER:08521199


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G M Faulkner
Director

Date: 30 September 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


SHEEPFOLD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Sheepfold Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office and principle place of business is disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 


SHEEPFOLD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 


SHEEPFOLD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).

Page 5

 


SHEEPFOLD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
260,221



At 31 March 2023

260,221



Amortisation


At 1 April 2022
51,845


Charge for the year on owned assets
44,439



At 31 March 2023

96,284



Net book value



At 31 March 2023
163,937



At 31 March 2022
208,376




5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2022
29,208


Additions
1,973



At 31 March 2023

31,181



Depreciation


At 1 April 2022
2,213


Charge for the year on owned assets
7,226



At 31 March 2023

9,439



Net book value



At 31 March 2023
21,742



At 31 March 2022
26,995

Page 6

 


SHEEPFOLD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
178
-

Other debtors
3,000
-

Prepayments and accrued income
561
-

3,739
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,000
5,838

Trade creditors
420
-

Amounts owed to group undertakings
-
15,268

Corporation tax
35,010
28,458

Other taxation and social security
10,485
12,666

Other creditors
15,490
31,546

Accruals and deferred income
63,701
61,895

131,106
155,671



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,133
21,146

Accruals and deferred income
-
60,141

15,133
81,287


The following liabilities were secured:

2023
2022
£
£



Bank loans
21,133
26,984

21,133
26,984

Details of security provided:

The loan amount is guaranteed under the Bounce Back Loan Scheme (BBLS) by the UK Government.

Page 7

 


SHEEPFOLD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,000
5,838


6,000
5,838

Amounts falling due 1-2 years

Bank loans
15,133
21,146


15,133
21,146



21,133
26,984



10.


Controlling party

The ultimate parent company is Silverdene Properties Limited, a company registered in England & Wales whose registered office is Silverdene, South Drive, Dorking, Surrey RH5 4AG.

 
Page 8