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REGISTERED NUMBER: 02149000 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Sharpfibre Limited

Sharpfibre Limited (Registered number: 02149000)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Income Statement 2

Balance Sheet 3

Statement of Changes in Equity 5

Notes to the Financial Statements 6


Sharpfibre Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr P O'Brien
Mrs P M O'Brien



REGISTERED OFFICE: Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL



REGISTERED NUMBER: 02149000 (England and Wales)



ACCOUNTANTS: BPSL
Brooms Professional Services Limited
Chartered Certified Accountants
Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL



BANKERS: Lloyds Bank plc
47-51 New London Road
Chelmsford
Essex
CM99 1AT

Sharpfibre Limited (Registered number: 02149000)

Income Statement
for the Year Ended 31 December 2022

31.12.22 31.12.21
Notes £    £   

TURNOVER 20,807,702 8,384,734

Cost of sales 15,388,388 5,501,228
GROSS PROFIT 5,419,314 2,883,506

Administrative expenses 1,498,595 1,059,210
3,920,719 1,824,296

Other operating income 9,607 314,244
OPERATING PROFIT 4 3,930,326 2,138,540

Interest receivable and similar income - 854
3,930,326 2,139,394
Gain/loss on revaluation of investments (21,539 ) -
PROFIT BEFORE TAXATION 3,908,787 2,139,394

Tax on profit 751,842 384,443
PROFIT FOR THE FINANCIAL YEAR 3,156,945 1,754,951

Sharpfibre Limited (Registered number: 02149000)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 16,463 19,433
Investments 6 21,539 43,077
38,002 62,510

CURRENT ASSETS
Stocks 7 179,722 87,219
Debtors 8 2,403,502 6,830,673
Cash at bank 3,909,680 816,959
6,492,904 7,734,851
CREDITORS
Amounts falling due within one year 9 2,064,246 1,164,107
NET CURRENT ASSETS 4,428,658 6,570,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,466,660

6,633,254

PROVISIONS FOR LIABILITIES 1,883 2,174
NET ASSETS 4,464,777 6,631,080

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 4,464,677 6,630,980
SHAREHOLDERS' FUNDS 4,464,777 6,631,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Sharpfibre Limited (Registered number: 02149000)

Balance Sheet - continued
31 December 2022


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

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:




Mr P O'Brien - Director



Mrs P M O'Brien - Director


Sharpfibre Limited (Registered number: 02149000)

Statement of Changes in Equity
for the Year Ended 31 December 2022

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 January 2021 50 4,908,272 50 4,908,372

Changes in equity
Dividends - (32,243 ) - (32,243 )
Total comprehensive income - 1,754,951 - 1,754,951
Balance at 31 December 2021 50 6,630,980 50 6,631,080

Changes in equity
Dividends - (5,323,248 ) - (5,323,248 )
Total comprehensive income - 3,156,945 - 3,156,945
Balance at 31 December 2022 50 4,464,677 50 4,464,777

Sharpfibre Limited (Registered number: 02149000)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Sharpfibre 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced work done, adjusted for amounts recoverable on contracts.

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 - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete items.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Sharpfibre Limited (Registered number: 02149000)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 20 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.22 31.12.21
£    £   
Depreciation - owned assets 7,014 8,651

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2022 187,547 116,668 33,839 338,054
Additions 2,564 1,480 - 4,044
At 31 December 2022 190,111 118,148 33,839 342,098
DEPRECIATION
At 1 January 2022 185,042 108,231 25,348 318,621
Charge for year 1,516 3,375 2,123 7,014
At 31 December 2022 186,558 111,606 27,471 325,635
NET BOOK VALUE
At 31 December 2022 3,553 6,542 6,368 16,463
At 31 December 2021 2,505 8,437 8,491 19,433

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2022 43,077
Revaluations (21,538 )
At 31 December 2022 21,539
NET BOOK VALUE
At 31 December 2022 21,539
At 31 December 2021 43,077

Sharpfibre Limited (Registered number: 02149000)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2022 is represented by:

Shares in
group
undertakings
£   
Valuation in 2021 43,077
Valuation in 2022 (21,538 )
21,539

If shares in group undertakings had not been revalued they would have been included at the following historical cost:

31.12.22 31.12.21
£    £   
Cost 43,077 43,077

Shares in group undertakings were valued on a fair value basis on 16 October 2023 by the directors .

7. STOCKS
31.12.22 31.12.21
£    £   
Materials 179,722 87,219

8. DEBTORS
31.12.22 31.12.21
£    £   
Amounts falling due within one year:
Trade debtors 305,440 407,150
Amounts owed by group undertakings 213,059 783,728
Other debtors 4,858 15,036
Amounts recoverable on contracts 1,789,320 1,920,630
VAT 90,825 86,844
Prepayments and accrued income - 17,285
2,403,502 3,230,673

Amounts falling due after more than one year:
Amounts owed by group undertakings - 3,600,000

Aggregate amounts 2,403,502 6,830,673

Sharpfibre Limited (Registered number: 02149000)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 993,548 667,824
Tax 1,012,106 408,916
Social security and other taxes 31,112 51,549
Other creditors 18,155 5,129
Accrued expenses 9,325 30,689
2,064,246 1,164,107

10. RELATED PARTY TRANSACTIONS

At the end of the year the balance owed by the parent company was £50,000. (2021: £3,600,000)
At the end of the year the balance owed by the subsidiary company was £163,059. (2021: £783,728)

11. CONTROLLING PARTY

The controlling party is OD Fire Protection Limited.

12. GROUP ACCOUNTS

By virtue of s383 of the Companies Act 2006 the company has elected not to produce group accounts.