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REGISTERED NUMBER: 01201116












Financial Statements

for the Year Ended 28 February 2023

for

Sherman Securities Limited

Sherman Securities Limited (Registered number: 01201116)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

Sherman Securities Limited

Company Information
for the Year Ended 28 February 2023







Directors: D Sherman
Mrs S V Hopkins
Miss E C Sherman





Secretary: D Sherman





Registered office: 20 South Ealing Road
Ealing
London
W5 4QA





Registered number: 01201116





Accountants: GKP Partnership
Ground Floor
Chiswick Gate
598 -608 Chiswick High Road
London
W4 5RT

Sherman Securities Limited (Registered number: 01201116)

Statement of Financial Position
28 February 2023

28.2.23 28.2.22
Notes £    £   
Assets

Fixed assets
Tangible assets 3 - -
Investment properties 4 7,051,110 7,056,110
7,051,110 7,056,110

Current assets
Stocks 2,633 2,633
Debtors 5 23,416 18,470
Cash at bank 2,111,955 1,849,767
2,138,004 1,870,870
9,189,114 8,926,980

Capital, reserves and liabilities

Capital and reserves
Called up share capital 6 1,000 1,000
Retained earnings - non
distributable 7 4,445,618 4,450,018
Retained earnings 4,141,103 3,887,564
Shareholders' funds 8,587,721 8,338,582

Creditors 8 601,393 588,398
9,189,114 8,926,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Sherman Securities Limited (Registered number: 01201116)

Statement of Financial Position - continued
28 February 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





D Sherman - Director


Sherman Securities Limited (Registered number: 01201116)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. 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 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 the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

2. Employees and directors

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

3. Tangible fixed assets
Motor
vehicles
£   
Cost or valuation
At 1 March 2022
and 28 February 2023 7,000
Depreciation
At 1 March 2022
and 28 February 2023 7,000
Net book value
At 28 February 2023 -
At 28 February 2022 -

Cost or valuation at 28 February 2023 is represented by:

Motor
vehicles
£   
Cost 7,000

Sherman Securities Limited (Registered number: 01201116)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. Investment properties
Total
£   
Fair value
At 1 March 2022 7,056,110
Disposals (5,000 )
At 28 February 2023 7,051,110
Net book value
At 28 February 2023 7,051,110
At 28 February 2022 7,056,110

Investment properties were valued on an open market basis by D A Sherman FRICS.

5. Debtors: amounts falling due within one year
28.2.23 28.2.22
£    £   
Trade debtors 21,700 16,528
Prepayments 1,716 1,942
23,416 18,470

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
126 Ordinary A £1 126 126
99 Ordinary B £1 99 99
449 Ordinary C £1 449 449
126 Ordinary D £1 126 126
100 Ordinary E £1 100 100
100 Ordinary F £1 100 100
1,000 1,000

7. Reserves
Retained
earnings
- non
distributable
£   
At 1 March 2022 4,450,018
Revaluation reserve decrease (4,400 )

At 28 February 2023 4,445,618

Sherman Securities Limited (Registered number: 01201116)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. Creditors: amounts falling due within one year
28.2.23 28.2.22
£    £   
Trade creditors 1,618 3,605
Tax 62,592 61,872
Social security and other taxes 399 404
VAT 6,463 6,877
Other creditors 94,629 94,187
Directors' current accounts 430,658 415,419
Accrued expenses 5,034 6,034
601,393 588,398

9. Related party disclosures

Sherman Securities Limited had the following related party transactions with D A S Executive Pension Scheme which is a self-administered pension fund with the following as trustees and members: D A Sherman, E Sherman and S Hopkins.

Sherman Securities Limited charged D A S Executive Pension Scheme £3,260 in respect of insurance premiums recharged.

Sherman Securities Limited

Report of the Accountants to the Directors of
Sherman Securities Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 28 February 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






GKP Partnership
Ground Floor
Chiswick Gate
598 -608 Chiswick High Road
London
W4 5RT


Date: .............................................