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REGISTERED NUMBER: 06252582 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Sherwood Hire Limited

Sherwood Hire Limited (Registered number: 06252582)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sherwood Hire Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr D J Board
Mr S J Board
Mrs N L Board





REGISTERED OFFICE: C/O Wright Vigar
International House
Brunel Drive
Newark
NG24 2EG





REGISTERED NUMBER: 06252582 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
International House
Brunel Drive
Newark
Nottinghamshire
NG24 2EG

Sherwood Hire Limited (Registered number: 06252582)

Balance Sheet
31 March 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 241,320 242,777

CURRENT ASSETS
Debtors 5 13,914 12,299
Cash at bank and in hand 19,108 29,210
33,022 41,509
CREDITORS
Amounts falling due within one year 6 61,507 73,778
NET CURRENT LIABILITIES (28,485 ) (32,269 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,835

210,508

CREDITORS
Amounts falling due after more than one
year

7

(40,759

)

(39,814

)

PROVISIONS FOR LIABILITIES (45,851 ) (45,958 )
NET ASSETS 126,225 124,736

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 126,125 124,636
126,225 124,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by:





Mr D J Board - Director


Sherwood Hire Limited (Registered number: 06252582)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Sherwood Hire 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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 - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Sherwood Hire Limited (Registered number: 06252582)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 459,830
Additions 86,338
Disposals (56,525 )
At 31 March 2023 489,643
DEPRECIATION
At 1 April 2022 217,053
Charge for year 62,826
Eliminated on disposal (31,556 )
At 31 March 2023 248,323
NET BOOK VALUE
At 31 March 2023 241,320
At 31 March 2022 242,777

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 3,500 5,965
Other debtors 10,414 6,334
13,914 12,299

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 6,000 4,514
Trade creditors 19,180 54,711
Taxation and social security 5,126 374
Other creditors 25,645 8,623
61,507 73,778

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 34,259 39,814
Hire purchase contracts 6,500 -
40,759 39,814

Sherwood Hire Limited (Registered number: 06252582)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
as restated
£    £   
Mr D J Board
Balance outstanding at start of year - -
Amounts advanced 1,255 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,255 -