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Company Registration No. 13425899 (England and Wales)
SHEARSMITH AND IRVIN LTD Unaudited accounts for the year ended 31 May 2023
SHEARSMITH AND IRVIN LTD Unaudited accounts Contents
Page
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SHEARSMITH AND IRVIN LTD Company Information for the year ended 31 May 2023
Directors
Mr A G Irvin Miss A E M Shearsmith
Company Number
13425899 (England and Wales)
Registered Office
The Hall Lairgate Beverley East Yorkshire HU17 8HL
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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SHEARSMITH AND IRVIN LTD Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,300 
8,400 
Tangible assets
7,290 
6,513 
13,590 
14,913 
Current assets
Debtors
33,975 
13,150 
Cash at bank and in hand
2,113 
1,045 
36,088 
14,195 
Creditors: amounts falling due within one year
(37,326)
(11,661)
Net current (liabilities)/assets
(1,238)
2,534 
Total assets less current liabilities
12,352 
17,447 
Creditors: amounts falling due after more than one year
(12,161)
(19,013)
Net assets/(liabilities)
191 
(1,566)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
91 
(1,666)
Shareholders' funds
191 
(1,566)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by
Miss A E M Shearsmith Director Company Registration No. 13425899
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SHEARSMITH AND IRVIN LTD Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
SHEARSMITH AND IRVIN LTD is a private company, limited by shares, registered in England and Wales, registration number 13425899. The registered office is The Hall, Lairgate, Beverley, East Yorkshire, HU17 8HL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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SHEARSMITH AND IRVIN LTD Notes to the Accounts for the year ended 31 May 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 June 2022
10,500 
At 31 May 2023
10,500 
Amortisation
At 1 June 2022
2,100 
Charge for the year
2,100 
At 31 May 2023
4,200 
Net book value
At 31 May 2023
6,300 
At 31 May 2022
8,400 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2022
6,652 
Additions
3,253 
At 31 May 2023
9,905 
Depreciation
At 1 June 2022
139 
Charge for the year
2,476 
At 31 May 2023
2,615 
Net book value
At 31 May 2023
7,290 
At 31 May 2022
6,513 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
33,475 
12,705 
Accrued income and prepayments
500 
445 
33,975 
13,150 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,852 
6,852 
Taxes and social security
26,142 
4,726 
Other creditors
3,574 
- 
Loans from directors
758 
83 
37,326 
11,661 
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SHEARSMITH AND IRVIN LTD Notes to the Accounts for the year ended 31 May 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
12,161 
19,013 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 26 (2022: 16).
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