REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 28 February 2023 |
for |
Sherman Securities Limited |
REGISTERED NUMBER: |
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: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
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 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
9,189,114 | 8,926,980 |
Capital, reserves and liabilities |
Capital and reserves |
Called up share capital | 6 |
Retained earnings - non |
distributable | 7 |
Retained earnings |
Shareholders' funds |
Creditors | 8 |
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 |
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 |
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 |
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 |
Motor vehicles | - |
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. | Tangible fixed assets |
Motor |
vehicles |
£ |
Cost or valuation |
At 1 March 2022 |
and 28 February 2023 |
Depreciation |
At 1 March 2022 |
and 28 February 2023 |
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 |
Disposals | ( |
) |
At 28 February 2023 |
Net book value |
At 28 February 2023 |
At 28 February 2022 |
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 |
Prepayments |
6. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.23 | 28.2.22 |
value: | £ | £ |
Ordinary A | £1 | 126 | 126 |
Ordinary B | £1 | 99 | 99 |
Ordinary C | £1 | 449 | 449 |
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 |
Revaluation reserve decrease | (4,400 | ) |
At 28 February 2023 |
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 |
Tax |
Social security and other taxes |
VAT | 6,463 | 6,877 |
Other creditors |
Directors' current accounts | 430,658 | 415,419 |
Accrued expenses |
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. |
Ground Floor |
Chiswick Gate |
598 -608 Chiswick High Road |
London |
W4 5RT |
Date: ............................................. |